Banking activities
The insurance industry has an important role to play in meeting the challenges of climate change. NN Group can help enable the transition to a low-carbon economy by offering products and services that address the environmental challenges our customers face. These could be new products and services that contribute to a low-carbon economy or that help more effectively insure our customers against the impacts of climate change
Commitment to a net-zero mortgage portfolio
Our residential mortgage portfolio mainly consists of Dutch mortgages originated and/or serviced by NN Bank. NN Bank is steering its mortgage portfolio towards becoming net zero by 2050 or earlier. To monitor our progress, we have established emission reduction reference targets for 2030.
NN Bank has identified the following ways to achieve its goals
- Engage with and encourage customers to reduce their greenhouse gas emissions
- Develop new mortgage-specific propositions and services
- Leverage NN Bank’s Green Bond Framework
- Evaluate and adjust products to help customers in their sustainability journey
- Contribute to (sector) initiatives and partnerships
Calculating our carbon footprint
NN Bank is a Dutch retail bank serving approximately 1.2 million retail customers in the Netherlands and is a large mortgage provider. Together with other financial institutions within the Partnership for Carbon Accounting (PCAF), we have developed a modelling approach to calculate the carbon footprint of our mortgage portfolio. NN Bank assesses its decarbonisation reference objective for the mortgage portfolio against the 1.5°C pathways of the Carbon Risk Real Estate Monitor (CRREM). Read more about how we calculate the carbon footprint of our mortgage portfolio in our Climate Action Plan.