Memberships and endorsements
Fulfilling our commitment to contribute to the well-being of people and planet by tackling challenges such as climate change requires us to join forces with a broad range of stakeholders. So collaboration with our peers, representatives from other industries, and governments is vital.
Commitments and cooperation
To underline our sustainability ambition, NN Group is a member of Dutch and international organisations and has endorsed several initiatives. By joining forces and pooling resources we can increase our leverage. Our actions are founded on the Paris Agreement commitment and other (inter)national commitments and collaborations.
To ensure compliance and discuss the impact of various regulatory policies, NN is a member of various national and international organisations.
NN Group has signed the commitment of the financial sector to the Dutch Climate Agreement (Klimaatakkoord). As a signatory financial institution, NN commits to contribute to the execution of the Paris Agreement. The financial sector’s commitment shows its support for energy transition and sustainable financial solutions to reduce GHG emissions in line with the Paris goals as requested by the Dutch government. Signatories should also measure the carbon footprint of their investments and explore measures to contribute to the transition towards a low-carbon economy. Being a signatory does not require NN to set emission reduction targets or pay any fees.
Start date: 2019
In 2022, NN Group became a member of the Finance for Biodiversity Foundation (FfB) and signed the Finance for Biodiversity Pledge. The pledge is a global initiative launched in 2020 in which financial institutions commit to protecting and restoring biodiversity through their investment and financing activities. Signatories aim to reverse nature loss this decade by collaborating, engaging with companies, assessing impact, and setting science-based targets. As a signatory to the Pledge, NN commits to collaborate, engage with companies, assess its own impact, set and disclose science-based targets and make public disclosures. NN Group participates in several of the Foundation’s working groups. There is an annual fee for the Pledge.
Start date: 2022
NN Group is a member of the Institutional Investors Group on Climate Change (IIGCC). This investor network, with more than 400 members, collaborates on the topic of climate change. Its purpose is to provide a platform to encourage public policies, investment practices, and corporate behaviour that address the long-term risks and opportunities associated with climate change. NN Group participates in the climate solutions working group. Being a member of this initiative does not require NN to report on climate progress or make a net-zero commitment. It does require an annual contribution fee.
Start date: 2017
The PAAO initiative is a collaborative investor-led forum that supports investors globally to align their strategies to the goals of the Paris Agreement. As a signatory, NN Group acknowledges the importance of emission reductions in the real economy within the sectors and companies we invest in. We are committed to transitioning our proprietary investment portfolio to achieve net-zero emissions by 2050, drawing on the Net-Zero Investment Framework.
Start date: 2021
NN Group joined the Forum for Insurance Transition to Net Zero (FIT) in 2024. FIT builds on the work of the Net-Zero Insurance Alliance (NZIA), promoting structured dialogue and providing a multistakeholder forum to support the acceleration and scaling up of voluntary climate action and net-zero thinking and practices by the insurance industry and key stakeholders. The Forum publishes guidance on processes and protocols specifically for the insurance sector to enable additional steps on climate action and net zero. NN participates in FIT working groups. There are no specific requirements for members except an annual financial contribution.
Start date: 2024
The Partnership for Carbon Accounting Financials (PCAF) is a collaboration between financial institutions to develop and implement a harmonised approach to measuring and disclosing GHG emissions associated with investments. NN participates in the PCAF NL working groups on mortgages and science-based targets. NN Group also joined the PCAF Insurance Associated Emissions working group to contribute to developing PCAF’s first standard for measuring insurance associated emissions. In addition to paying a contribution, being a member of this initiative requires NN to assess and disclose its GHG emissions and set science-based targets. PCAF does not monitor its members’ implementation of these targets.
Start date: 2020
NN Group has been a signatory of the UN Principles for Responsible Investment (PRI) since 2022 (and through our former asset manager since 2006). PRI is an international network that aims to put its six Principles for Responsible Investment into practice. Its goal is to understand the implications of sustainability for investors and support signatories in incorporating these issues into their investment decision-making and ownership practices. As a signatory, NN is required to have a formal policy on responsible investing, senior level oversight and to report annually to the organisation on how it incorporates the six principles. The PRI has an annual membership fee.
Start date: 2022