Our role in supporting the transition to net-zero

In November, world leaders, businesses and civil society organisations will gather at COP, the annual UN climate conference. Discussions will likely focus on how to reduce emissions, attract the investment needed to support a more sustainable economy, and help societies adapt to the effects of climate change.

While international agreements help set the direction, progress is often shaped by the countless decisions people make every day: when homeowners decide to make their homes more energy efficient, where investors chose to allocate capital, and if businesses choose to adopt new technologies and ways of working.

For NN, these decisions are closely linked to our role as a financial services provider. ‘We recognise that we have a responsibility to contribute to the transition. This includes investing in climate solutions, encouraging change through our role as an investor, and incorporating sustainability considerations into the products and services we offer our customers,’ says Anna Miley, Head of Sustainability and Social Impact at NN Group.

Investing in the transition and influencing change

The transition to a lower-carbon economy requires significant investment. Renewable energy projects, energy-efficient buildings and infrastructure to support electrification all need long-term funding. ‘As a long-term institutional investor, NN allocates capital to a wide range of climate solutions that contribute to climate change mitigation or adaptation,’ said Nathalie van Toren, Head of Responsible Investment at NN Group. By the end of June 2026, NN's investments in climate solutions had reached €14.3 billion.

While investment decisions play an important role in accelerating the transition, real-world progress also depends on the decisions companies make about how they operate and adapt to a lower-carbon economy.

NN combines capital allocation with active ownership. This means we engage with businesses across our investment portfolio on issues such as climate strategy, emissions reduction and transition planning. We also use our voting rights and collaborate with other investors to encourage positive change.

Climate stewardship is an important focus area. In 2025, NN updated its existing asset alignment and engagement threshold objectives, which are used to steer and monitor our corporate investment portfolio and to focus engagement with investee companies.

The company also expanded its stewardship efforts on nature-related issues, encouraging stronger commitments from investee companies to prevent deforestation and land conversion among businesses linked to high-risk commodities. This is also relevant to climate change, as forests absorb and store carbon.

Recognising that systemic challenges require collective action, NN works closely with external asset managers, engagement partners and peer investors. ‘Through collaborative initiatives, industry programmes and policy discussions, NN seeks to amplify its impact and help accelerate change beyond its own portfolio,’ added van Toren.

Helping customers and businesses adapt

New technologies are creating important opportunities to accelerate the transition. At the same time, they bring new and evolving risks that need to be understood and managed.

As businesses invest in electrification, battery storage and local energy infrastructure, confidence that these assets can be protected and insured is essential. Insurers can play an important role in creating that confidence. In the Netherlands, for example, NN's Non-life business has developed solutions to support entrepreneurs as they electrify their operations.

One example is the cover our Non-life business provides for energy hubs on business parks. ‘The hubs can help businesses manage energy supply and demand more efficiently, but they also introduce new technical, operational and liability risks. By combining tailored coverage with specialist risk expertise, NN can help businesses adopt and operate new technologies with greater confidence,’ said Adrie Heinsbroek, Manager Sustainability Business at NN Group.

NN is also focused on reducing the environmental impact of its own operations. The company has set a net-zero ambition for 2040 and continues to embed sustainability across its operations.

‘Supporting the transition is not just about how we invest or the products we offer. It is also about how we run our own business. By reducing emissions from our offices, energy use and business travel, we are working to minimise the environmental impact of our day-to-day operations,’ said Heinsbroek.

Turning ambition into action

While we are encouraged by the progress we have already made, we are also realistic about the scale of the challenge ahead. The transition to a low-carbon economy will take time, and no single organisation can drive it on its own. Real progress depends on governments, companies and the public working together to make an impact.

At NN, we are committed to playing our part. ‘Through our investments, engagement activities, the insurance solutions we offer and through our own operations, we aim to support the transition where we can make the greatest impact. There is still much more to do, but we believe that meaningful steps, taken together, can make a difference,’ added Miley.