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ING Germany partners with share to launch Girokonto Future

Wednesday 19 April 2023 15:26 CET | News

ING Germany has announced adding a sustainable option to its current account.

Customers can now use the “Girokonto Future” account for an additional euro a month, in which all customer deposits are matched with social and ecological financing and investments. The basis for the use of funds is a set of sustainability criteria specially developed for the account, which take into account the UN principles for responsible banking and are based on the EU taxonomy in terms of content.

ING Germany partners with share to launch Girokonto Future

ING is working with the social impact company share for the "Girokonto Future". Share also receives a subsidy of EUR 1 per month from ING per customer. The customer can freely choose which share project is funded with this amount. For ING Germany, the "Girokonto Future" is the first product alternative with which the offer in the private customer business is to be structurally more sustainable. According to an ING representative, they want to offer an option in daily banking with which they can promote social and economic change.

The importance of sustainable finance

ING Germany is expanding its range to include an alternative that users can use to contribute to ecological and social sustainability. ING Germany plans to exchange all customer deposits on the "Girokonto Future" with corresponding investments in sustainable loans and investments. To this end, the bank has developed its own sustainability criteria, which it publishes on its website. According to this, the deposits on the "Girokonto Future" are used for energy-efficient construction financing, social and ecological corporate loans, and project financing as well as for investments in green and social bonds. 

The initial six projects

As stated by an ING representative, they are expanding the new account model in collaboration with share to include an aspect that goes far beyond banking, namely the promotion of specific, social, and ecological projects. As part of the initial launch, share offers six social and ecological projects that help people locally or globally. In this way, customers can decide according to their own wishes which funding project will be supported by ING with EUR 1 per month. In addition, the rounding function can be used to round up to the next full EUR amount or to the next full five euros for each card payment. The rounded-up amount benefits the selected funding project. The maximum monthly amount for rounding up can be set individually.

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Keywords: partnership, ING, sustainability , banking, investment
Categories: Banking & Fintech
Companies: ING
Countries: Germany
This article is part of category

Banking & Fintech

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