At ING, we consider sustainability as a strategic priority. We support the development of a wide range of clients from different sectors and of different sizes and structures in the Corporate Banking area, while also serving a vision of a sustainable future.
In this context, we are acting to transform individual and corporate habits, investments, and business practices. We work with our clients for social well-being and future generations. We value the support we provide to sectors and companies in terms of sustainable and durable economic growth and employment.
We are aware that the journey of sustainability requires very diverse and multi-layered solutions according to the priorities and needs of each organization. In this context, we offer a very wide range of customized solutions to our corporate clients in a wide product segment. We support their access to sustainable finance sources in both local and international markets. In addition to providing financial resources for them to achieve their Sustainable Development Goals, we are also by their side for all their consulting needs, becoming partners in their sustainability journey. Our experience and leadership in this field allows us to create strong, trust-based relationships with our clients, providing opportunities for creating strong sustainable values. As a testament to our commitment, one out of five of our Corporate Banking clients who participated in our Promoter Score survey state that they chose ING Türkiye "due to its sustainability profile and competencies".
Furthermore, ING Group's sustainability-related transactions in the Turkish market are experiencing rapid growth. On the Corporate Banking side, the number of sustainability-related transactions has increased fivefold, and the transaction volume has surged tenfold over the last two years. At ING Türkiye, we also extend support to Commercial and SME customers through Sustainable Business Credit while actively promoting awareness through various events.
We work with a focus on sustainable transformation and awareness
The sustainability journey can only be successful with effective and multi-faceted stakeholder management. In this context, we prioritize understanding the needs and expectations of our corporate customers through regular sustainability discussions in all our work. Based on feedback from our customers and Banking Sector Basic Sustainability Principles of the Banks Association of Türkiye (TBB), we aim to continuously improve and develop the products and services developed within ING Türkiye.
We are aware that our customers have expectations for the bank not only in terms of environmental targets, but also in terms of social and governance goals. We play a role in the end-to-end sustainability-focused transformation of organizations in all units and organs of the organization with mastery of the internal organizational structure. We support the coordinated actions of group companies that are compatible with the sustainability goals of multi-layered structures like group companies.
Supporting the widespread distribution of banking services and enabling access to sustainable financial resources for all segments of society is also one of our top priorities. We aim to expand the sustainable finance practices we have initiated in Corporate Banking to a wider base. In this context, we continue our work on projects and credit products that will cover both legal entities and individual customers. We aim to be present on both sides of the consumption equation to provide social benefits and support the economy. To reflect sustainable development on all segments of society, we work to bring together our corporate customers with our retail banking teams through projects such as consumer financing products.
Additionally, we regularly report on the effects and results of our work in this area to increase awareness and transparency for all of our stakeholders in order to encourage sustainable production and consumption. In this context, you can access the ING Group's 2022 Climate Report, which outlines our integrated approach in the field of Climate Change, a key strategic priority in the field of sustainability, and sector developments within our TERRA Approach, by clicking here.
We are leading the way in the development journey of sustainable financing
The need for sustainable financing in the business world emerged in the 1990s, particularly due to the value-oriented strategic transformations of societies, economists, opinion leaders, public institutions, and of course companies in many parts of the world. Individuals and organizations were driven by various motivations and reasons, with the influence of international organizations playing a key role.
The 2010s, however, made visible the risks faced by organizations that do not prioritize taking action for sustainability in the internal and external dynamics of their actions. In particular, organizations operating in carbon-intensive sectors changed their efforts from selling related assets to changing the technology they use, adding green energy assets to their portfolios, among others. The transformation process towards sustainability, which requires high amounts of financing, has enabled financial institutions to improve themselves in the field of sustainable financing and shape both the private and public sectors in this field.
At the ING Group, we are one of the pioneering organizations that started the journey of sustainability in the 1990s. In parallel with the climate action process, we introduced our first Environmental and Social Risk (ESR) policy in 1997. In 2015, we accelerated our activities, which form the basis of the integrated climate action approach, by approving the Paris Climate Agreement. In the same year, we launched our first Green Bond and pledged not to finance coal-fired power plants.
In 2017, while pledging to zero out coal-related financing by 2025, the ING Group also published its first Climate Change policy within the ING ESR Framework. In 2021, we became a member of the Net Zero Banking Alliance, which aims to align banks' lending and investment portfolios with the goal of limiting global temperature increase to 1.5 C degrees as set out in the Paris Climate Agreement by 2050.