EMEA represents a bulk of ING’s sustainable finance activities.

ING Bank has issued $35.37b in sustainable financing in Q2 2024, 30% higher compared to the first quarter period and the same quarter in 2023, the bank said in a report.

To date, ING has closed 204 sustainability transactions, according to the third issue of the ING Sustainable Finance Pulse published in October 2024.

ING’s Philippine country manager Jun Palanca affirmed the bank’s goal of scaling their power generation lending.

“With plans to scale our power generation lending to $8.24b by 2025, we are confident in our ability to help the Philippines build a more resilient and sustainable economy,” Palanca said in a press release announcing the report’s launch.

ING observed slightly lower activity in the market Q2 in general.

“Like the market in general, the EMEA region still represents the bulk of ING’s sustainable finance activities, continuing to contribute ca 70% of volume mobilized. The deal pipeline of our APAC sustainable franchise remains healthy, performing consistently with the robust growth of the market in general,” ING said in the report.

Globally, about $26b of green loans were disbursed in Q2, on par with past years’ averages for the quarter.

Sustainable finance issuance was lower during the quarter, totalling just $376b in Q2, lower than the $400b average in the past few years.