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Integrity of Sustainability-Linked Debt at Risk for Pioneer ING

  • Bank says targets linked to green financing must be ambitious
  • Risk of falling standards as this debt becomes more mainstream

A sustainable finance pioneer issued a rallying cry for banks and their clients to set more ambitious ethical goals when selling debt.

ING Groep NV, which says it created the first loan tied to a client’s sustainability performance in 2017, warned the burgeoning market’s credibility is now at risk. Sustainability targets linked to financing must be ambitious, recognized industry-wide and verified by a reputable independent party, the lender said in a statement on its website Thursday.