Friends of the Earth, a climate activist group, said that it will target Dutch bank ING for its financing of the fossil fuel industry as part of a lawsuit in the bank’s native country.

The group has sent ING’s board of directors a letter detailing claims and demands, a requirement before filing a civil lawsuit in the Netherlands. One of the key demands is for ING to cut its own emissions in half by 2030 from its 2019 levels and that it stop cooperation with “polluting companies”.

Noting that the bank was being targeted for its size and influence, Friends of the Earth Director Donald Pols said: "ING is very simply the banker of the climate crisis. Because they fund polluters, they play a crucial role in climate change."

Responding to the action, a statement from ING said: “We're confident that we take impactful action to fight climate change. We will of course respond in court if necessary.”

ING previously drew criticism over its plans to phase out financing of oil and gas development projects by 2040, with activists saying that the plan showed a lack of ambition.

Friends of the Earth has a successful track record of holding major businesses to task for their role in the climate crisis. It won a landmark suit against Shell in 2021 that saw the petrochemical giant forced to cut its emissions.

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