ING to invest EUR 100m in sustainable businesses via new fund

ING's head office in Amsterdam. Author: ING Group. License: Attribution 2.0 Generic (CC BY 2.0)

Dutch financial services major ING Groep NV (NYSE:ING) has committed EUR 100 million (USD 122.6m) of capital to a new fund that will support sustainable businesses in all sectors, including the energy industry.

The fund, called Sustainable Investments, will initially focus on opportunities in the Benelux and will look into other core markets over time. It will support innovative business models that need funding to expand their existing operations both organically or through a “buy and build” strategy, ING said in a statement on Thursday.

The EUR 100 million will be spent gradually during the next three to four years.

“This step enables ING to support our clients who are proactively making changes in their business models to adapt to a more sustainable and energy-friendly way for the future, and further support them throughout their journey,” said Mark Weustink, director within ING’s Corporate Investments team. Weustink will be leading and managing the new fund.

(EUR 1.0 = USD 1.226)

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