Governance, memberships and endorsements
At NN Group, corporate citizenship, including our sustainability approach, is part of the portfolio of the Chief Organisation & Corporate Relations within the Management Board. The Chief Risk Officer, also a member of the Management Board, has day-to-day responsibility for NN Group’s risk management function, including risks related to sustainability matters, such as climate change. Additionally, all members of the Management Board have a responsibility for integrating sustainability in their respective businesses and functions.
NN Group strives to structurally embed sustainability in our policies, processes and activities. To drive our strategy and the implementation of our processes, we have a dedicated team in place; the Corporate Citizenship team within the Corporate Relations department. This team works closely together with the different businesses and functions to steer and advise on the implementation of the overall strategy.
Additionally, there are experts within specific departments, such as Investment Office, Risk M
anagement, Legal and Compliance, that include ESG related activities in their respective roles.
Memberships and endorsements
To underline our ambition NN is a member of various national and international organisations and endorsed
several initiatives. Our memberships and endorsements include:
- UN Global Compact
- UNEP FI
- United Nations Principles for Sustainable Insurance (PSI)
- Net-Zero Insurance Alliance (NZIA)
- World Economic Forum, CEO Climate Alliance
- Partnership for Carbon Accounting Financials (PCAF)
- Value Reporting Foundation
- MVO Nederland
- EEMI & EEML (NN Bank Membership)
Memberships related to our investment activities
- Institutional Investors Group on Climate Change (IIGCC)
- Climate Action 100+ (supporter)
- Dutch Association of Investors for Sustainable Development (VBDO)
- Paris Agreement Pledge for Action
- Paris Aligned Investment Initiative Net Zero Asset Owner Commitment
- Statement of Support for Task Force on Climate-Related Financial Disclosures (TCFD)
- ICSR covenant for the Dutch insurance sector
- Commitment Financial sector to the Dutch Climate Agreement (Dutch Klimaatakkoord)
To ensure compliance and discuss the impact of various regulatory policies, NN is a member of various national and international organisations:
Dutch Association of Insurers, Dutch Banking Association (NVB), The Confederation of Netherlands Industry and Employers (VNO-NCW), European Retail Financial Forum (ERFF), Geneva Association, European Insurance CFO Forum (CFO Forum), CRO Forum.
The annual total monetary contributions and expenditures to trade associations in 2020 was EUR 6.3m. The three largest contributions were to the Dutch Association of Insurers, the Geneva Association and the Confederation of Netherlands Industry and Employers (VNO-NCW). NN Group has direct engagements with the authorities and political parties concerning regulatory and financial market related issues. There is no culture and it is not common to do financial contributions from listed companies to political parties in the Netherlands, and NN Group does not make any such contributions.