Yesterday, NN Group’s Chief Investment Officer (CIO) Jelle van der Giessen was elected to the board of the Institutional Investors Group on Climate Change (IIGCC).
This is the European membership body for investor collaboration on climate change. NN Group has been a member of the IIGCC since July 2017. We support the organisation’s work and contribute to further raise awareness of the potential impact of climate change.
As a geologist Van der Giessen has a strong affinity with climate change and he understands that climate change processes can be hard to reverse. He considers climate change as the single largest threat facing our society and our planet. ‘The worldwide impact is becoming increasingly visible, making it essential that we act to reverse the adverse effects of climate change. I believe that the financial industry, especially institutional investors, should play an important role in convincing market players to embark on the path that keeps global warming well below 2°C.‘
Initiatives within NN
When it comes to climate change, NN Group endorsed the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) in 2017. And there have been more initiatives within NN. Van der Giessen: ‘NN Group is one of first insurance companies to publish a comprehensive carbon footprint analysis of our investments. And for a number of years we have actively invested in improving the environmental footprint of our private real estate portfolio. In addition, our asset manager NN Investment Partners (NN IP) actively engages on climate change topics with companies we have invested in, and it is a member of the Climate Action 100+. Last but not least, we are currently performing climate-related scenario analysis for our investments.’
IIGCC
IIGCC is the voice of investors taking action for a prosperous, low carbon future. It has more than 170 members - mainly pension funds and asset managers - across 13 countries, with over EUR 23 trillion in assets under management. IIGCC members consider it a fiduciary duty to ensure that stranded asset risks, or other losses from climate change, are minimised. And that opportunities presented by the transition to a low carbon economy – such as renewable energy, new technologies and energy efficiency – should be maximised.
