NN Group is collaborating with peers to intensify its engagement with investee companies
NN Group has joined two new investor engagement efforts, the Ceres' Valuing Water Finance Initiative, and Platform Living Wage Financials, to further strengthen its active ownership activities as a large investor. Collaborating with other investors enables NN to achieve maximum influence, while pooling resources and expertise. Previously, NN already became a signatory of the worldwide Climate Action 100+ programme, supporting engagements conducted on climate-related topics.
Fleur Hudig, head of Corporate Citizenship of NN Group: 'We are committed to being an active asset owner, and working together with other investors will bring engagement efforts with our investee companies to a next level. Joint engagement is a powerful tool that allows us to influence change and encourage companies to improve their environmental, social, and governance (ESG) practices more effectively. As a responsible corporate citizen, we have identified water stewardship and promoting a living wage as two important engagement priorities. By joining these initiatives, we are contributing to long-term value that benefits society at large.’
About Ceres’ Valuing Water Finance Initiative (VWFI)
VWFI is a global investor-led effort to engage companies with a high water footprint to value and act on water as a financial risk and drive the necessary large-scale change to better protect water systems. Launched in August 2022, the initiative has developed a water valuation framework in which it assesses companies’ water impacts and has identified 72 companies to engage with. The initiative was launched with 64 investor signatories and continues to grow.
Water is a vital resource for society at large. Yet, poor water management, intensified by climate change, is contributing to water shortages and water pollution globally. For companies, competition for water, weak regulation, growing demand, aging infrastructure, water scarcity, and water contamination are all sources of financial risk. NN Group will engage with companies with a high water footprint, to adopt and implement a set of clear steps called the Corporate Expectations for Valuing Water.
About Platform Living Wage Financials (PLWF)
PLWF is a collaboration of 20 financial institutions with over EUR 6.9 trillion of assets under management and advice, that encourages and monitors investee companies to enable living wages and incomes for workers in their global supply chains.
The implementation of a living wage helps to raise the standard of living of workers and their families. A living wage enables them to meet their basic needs. Moreover, a living wage can act as a catalyst for improvement in other areas of the labour market. For instance, there is less likelihood of child labour when parents earn enough to support their families.
