Sustainable business operations

We aim to effectively manage our direct environmental footprint by reducing our use of natural resources, seeking green alternatives and compensating for the remainder of our carbon emissions. Making responsible choices in our procurement contributes to this.

As a financial service provider, our direct environmental impact is limited as we mainly operate in an office environment. Nevertheless, we have a responsibility to approach the environment with care. Therefore, we aim to minimise our footprint.

Managing our CO2 footprint

NN Group has committed to reduce its CO2 emissions with at least 35% by 2025, and at least 70% by 2030 compared to 2019. With this path we expect to reach net-zero by 2040. This covers CO2 emissions from our buildings, lease cars and business air travel.

We aim to reach our targets through various actions. One way is the introduction of the hybrid way of working to stimulate colleagues to also work from home. Another way is our ambition to a 100% electric car fleet in the Netherlands by 2025. In addition, we aim to improve energy efficiency in our buildings and increase the use of renewable electricity.

Finally, NN Group compensates the remainder of its emissions as we have since 2015 and is therefore carbon neutral.

Sustainable procurement

NN Group is committed to making sustainable procurement decisions and we encourage our supplier to do the same. Our purchasing decisions do not only meet our organisation’s need for products and services, we aim to contribute to society as well and minimise environmental impact in doing so while addressing socioeconomic issues.

Our approach starts with assessing environmental, social and governmental (ESG) factors that can pose risks or present opportunities for NN. When material, we incorporate appropriate evaluation criteria in our sourcing processes and evaluate all costs associated with the product or service. We also challenge our suppliers to offer sustainable and innovative solutions. Our suppliers are asked to register to an innovative supplier qualification platform where they provide detailed information on the policies and processes they have in place to among others minimise environmental impact. During the course of a contract, we also engage actively with our suppliers to stimulate ongoing improvements.

We continually improve our relationships with suppliers and work together in a mutually beneficial way. We have included our most important standards in our approach to the environment and human rights in NN’s Terms and Conditions, which our suppliers agree to when doing business with us. On top of this, all key suppliers are asked to commit to our Supplier Code of Conduct (SCC), which outlines our expectations of the sustainability policies and practices of our suppliers.

NN Group Supplier Code of Conduct

Our environmental data

Environmental indicators
2021 2020 2019
Total emissions (in kilotonnes) 7.5 9 18.4
Scope 1 3.6 4.6 7.4
Lease car travel 3.0 3.7 6.1
Natural gas 0.6 0.8 1.2
Scope 2 3.4 3.5 4.8
Electricity 2.8 2.6 3.8
District heating 0.6 0.9 1.1
Scope 3 0.5 0.9 6.2
Business air travel 0.5 0.9 6.2
CO2 emissions (tonnes)/FTE 0.5 0.6 1.3
% of CO2 emissions offset 100% 100% 100%

Energy consumption
2021 2020 2019
Total energy consumption (MWh x 1,000) 29 32 46
Non-renewable electricity 6 5 8
Renewable electricity 12 16 23
Renewable electricity as % of total electricity 67% 74% 75%
Natural gas 3 4 6
District heating 8 7 9
Paper
2021 2020 2019
Total paper use (kg x 1,000) 123 107 281
Sustainable paper 77 65 182
Sustainable paper as % of total paper 62% 61% 65%
Waste
2021 2020 2019
Total waste (kg x 1,000) 276 428 630
Recycled waste 210 157 364
Recycled waste as % of total waste 76% 37% 58%
Water*
2021 2020 2019
Total water usage (thousand cubic meters) 7.5 6.4 14.2

*) This only covers the International Business Units. We expect to include the Netherlands in the coming years

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