Contributing to a sustainable future
Our values care, clear, commit guide our interactions with all stakeholders, and they embody responsible business conduct and corporate citizenship. As a large international financial services company, we believe our business has a role to play in the transition to a sustainable economy. Through our products and services – retirement, pensions, insurance, banking – and our investments, we want to make a positive social and environmental impact and contribute to the well-being of people, the planet and society.
Sustainability is embedded in our governance
We have developed a governance structure that enables the Executive Board, Management Board, Supervisory Board and senior management to intergrate sustainability matters and actions into strategy setting, execution and monitoring. This structure also supports the implementation of sustainability in our operations and business processes, and in our Risk Management, Compliance and Legal functions.
In June 2020, NN Group launched its climate strategy with the objective of moving towards net-zero greenhouse gas emissions by 2050, in line with the Paris Agreement. We also integrate environmental, social and governance (ESG) factors into our insurance business through both our investment and underwriting processes.
We have developed a Responsible Insurance Underwriting (RIU) policy which sets the minimum standard for implementing sustainability in our underwriting and related product development and risk management activities. This includes evaluating sustainability risks and opportunities associated with the product or service, as well as considering their potential impact on society and the environment. By systematically incorporating ESG due diligence, we can reflect NN Group’s values in the underwriting process and better align our business with our broader objectives and the expectations of society while minimising harm to people and the planet. This policy ensures we take a proactive approach to sustainability in our insurance underwriting and demonstrates our commitment to driving positive change.
Respecting people and the world we live in
The NN Group Human Rights Statement and the NN Group Environmental Statement reflect our commitment to human rights and the environment. The statements set out our approach to these topics in our roles as employer, insurer, business partner, investor and corporate citizen.
Products and services that add social and environmental value
We create products and services that add environmental and social value by offering solutions to our customers that encourage sustainable living and mobility, promote health and well-being, and help insure them against climate change-related risks. We also aim to address societal needs or add social value by reaching more vulnerable groups in society.
Sustainable living environment
We enable net-zero living by empowering our customers to make their home or business more sustainable. For example, our mortgage provider Woonnu rewards more sustainable living and our platform Powerly offers tailored advice to homeowners on making their homes more energy efficient.
Addressing adverse impacts on the environment is also about preserving and restoring our ecosystems, biodiversity and much more. We seek solutions that address biodiversity. NN is one of the leading marine insurers in the Netherlands and aims to limit negative impacts to ocean ecosystems from climate change, pollution and overfishing.
Sustainable mobility
We support our customers in shifting to more sustainable mobility solutions. We offer insurance for electric vehicles, including NN Belgium’s insurance for electric bikes. Through our partnership with klimaatplein.nl, we have developed a climate change prevention scan for SME companies.
Pension impact
BeFrank launched the first carbon-neutral pension fund in the Netherlands and NN Slovakia established the first ESG pension fund in Slovakia. Through Netherlands Life’s online pension platform, the Human Capital Planner (HCP), customers can see the impact of their life cycle investments in terms of CO2 reduction, water savings and waste reduction.
Health and financial well-being
We promote health and well-being and aim to help people stay socially engaged. We support a carefree retirement for example through Zorggenoot, a platform which helps customers take care of their relatives or arrange the services they need. Our critical illness products in Central and Eastern Europe are supported by cancer awareness and prevention campaigns. Nationale-Nederlanden Spain’s ForYouWomen, is a community platform for women that provides information about the prevention and treatment of breast and gynaecologic cancers. We offer a similar concept in Poland.
We also offer help to customers who are or might become financially distressed.