Procuring More Sustainable Products and Services: NN Group’s Commitment to Sustainable Operations

NN Group, a leading international financial services company, is actively advancing sustainability within its procurement processes. Recognizing the significant environmental footprint associated with purchasing, NN Group leverages its substantial annual procurement spend and vast supplier network to champion more sustainable products and services.

Focus Areas and Emission Footprint

The company identifies IT, consultancy, and facility management as its highest-spend and most carbon-intensive procurement categories. Notably, over two-thirds of emissions tied to suppliers are linked specifically to NN Group’s Dutch business units and staff departments.

Transitioning to Supplier-Specific Emissions Reporting

Currently, NN Group uses a spend-based method to estimate emissions from purchased goods and services. Looking ahead, the company plans to adopt a more precise supplier-specific emissions reporting system. This approach will enable closer monitoring of individual suppliers’ emissions and their progress in reducing greenhouse gases (GHG). Many suppliers are either under the Corporate Sustainability Reporting Directive (CSRD) or voluntarily disclose their sustainability data, facilitating this transition.

Responsible Procurement and Supplier Engagement Programmes

In 2024, NN Group launched a responsible procurement strategy beginning with Dutch units, with full international rollout planned for 2025-2026. A cornerstone initiative is the Supplier ESG Engagement Programme, designed to evaluate and score suppliers on their net-zero journey by examining their targets, transition plans, and emissions reporting practices.

• Engagement Goals: Aim to engage at least 35% of suppliers by spend by end-2025.
• For Existing Suppliers: Encourage enhanced net-zero efforts when current standards are unmet.
• For New Suppliers: Implement improvement plans during contracting, including emissions measurement and net-zero commitments, with progress reviewed at contract renewal.

Driving Real Economy Change Through Collaboration

Instead of exclusively partnering with low-carbon suppliers, NN Group chooses to collaborate with high-emission suppliers to foster decarbonization within the broader economy. This approach supports systemic change rather than merely optimizing the company’s immediate supply chain footprint. Nevertheless, NN Group sets strict minimum requirements and timelines, retaining the option to discontinue contracts if sufficient progress is not demonstrated.

Commitment and Transparency

NN Group’s sustainable procurement efforts form part of its wider climate strategy, detailed in its latest Climate Action Plan and further information accessible via its website. By integrating sustainability deeply into procurement, NN Group not only reduces its operational footprint but also influences supplier behaviors toward a more sustainable future.

About NN Group: Operating in 10 countries including major European markets and Japan, NN Group serves approximately 19 million customers through retirement services, pensions, insurance, banking, and investments. Listed on Euronext Amsterdam (NN), the group includes brands such as Nationale-Nederlanden, ABN AMRO Insurance, and others.

For further inquiries, contact:

Gerbert van Genderen Stort
Spokesperson NN Group – Corporate Matters, Sustainability & Responsible Investment
Email: Gerbert.stort@nn-group.com
Phone: +31 (0)6 10 19 58 32

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