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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. Such as developing new products and services that contribute to a low-carbon economy and helping insure our customers against the impacts of climate change. 

Commitment to 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 areas for action  

  • Engage with and encourage NN Bank’s customers to reduce their GHG emissions

  • Develop new mortgage-specific propositions and services

  • Leverage NN Bank’s Green Bond Framework

  • Evaluate and adjust all other products to help customers in their sustainability journey

  • Contribute to (sector) initiatives and partnerships

    Calculating our carbon footprint

    NN Bank is currently ranked as the fifth-largest mortgage provider in the Netherlands. Together with other financial institutions within the Partnership for Carbon Accounting Financials (PCAF), we developed a modelling approach to calculate the carbon footprint of the mortgage portfolio. We used the tool of Carbon Risk Real Estate Monitor (CRREM) to analyse our portfolio against science-based decarbonisation pathways aligned with the Paris Agreement. The pathways are calculated based on a carbon budget to stay within the boundaries of 1.5°C of global warming. Read more about how we calculate the carbon footprint of our mortgage portfolio our Climate Action Plan.

    Climate Action Plan 2023

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