Chaotic ING shareholders' meeting due to climate activists protests; At least 1 arrest

The ING shareholders' meeting was very chaotic on Monday due to protests by climate activists angered by the bank's fossil investments. The meeting in the Muziekgebouw aan 't IJ in Amsterdam was halted several times/ and the police were present to remove activists. At least one person was arrested over the course of the day.

Dozens of demonstrators from Milieudefensie and Extinction Rebellion were able to attend the meeting because they own ING shares. During the meeting, the activists shouted slogans, sang songs, blew whistles and held up banners. The police made arrests, and security guards in the room, of which there were many, removed activists from the hall. Activists were also standing with banners outside the Muziekgebouw.

One person arrested contiuously blew a whistle and shouted that he would remain seated on the floor until ING stopped investing in fossil fuels. The other activists in the room shouted in support during his arrest, saying that "he is not alone." Campaigners also shouted in Dutch, "This is what democracy looks like," and yelled that they "want climate action now."

Hans Wijers, the Supervisory Board Chair, suspended the meeting several times because of the unrest. Wijers said that the portests "have nothing to do with democracy," and are just "pure obstruction," preventing other shareholders from speaking. Calm gradually returned after most of the activists had been removed from the room, although noise could occasionally be heard by remaining demonstrators. Those people were then also removed from the room.

Due to all the interruptions, the meeting was delayed considerably. Wijers acknowledged that the meeting was "quite chaotic" and he also expressed his displeasure with the disruptions. Due to the arrival of the climate activists, ING moved the meeting to the Muziekgebouw because the bank needed a larger location than the head office in Amsterdam Zuidoost.

Demonstrators from Milieudefensie kept repeating the same question as to whether the bank will do everything it can to reduce greenhouse gas emissions by at least 45 percent across the entire manufacturing chain by 2030, when compared to emissions levels in 2019. ING CEO Steven van Rijswijk said that the bank is adhering to the Paris climate goals and that major efforts are being made to reduce its own emissions.

During the meeting, some yelled out that Van Rijswijk "has blood on his hands."

Milieudefensie stated, "ING does not show the ambition to prevent dangerous climate change." The environmental group is considering filing a lawsuit against ING to force the bank to adopt a stricter climate policy, just as it previously did against oil and gas group Shell. Milieudefensie won that case against Shell.

Milieudefensie also attended the annual Ahold Delhaize meeting to ask questions about the supermarket group's climate policy. There, too, the same question about reducing emissions was repeated over and over.