NN Group Advances Sustainable Procurement to Reduce Carbon Footprint

NN Group, an international financial services firm active in 10 countries, is intensifying efforts to procure more sustainable products and services for its operations. Recognizing its substantial annual spend and extensive supplier base, NN Group aims to leverage procurement as a critical leverage point in its broader climate strategy.

Focus on Sustainable Supplier Engagement

Key emissions drivers within NN Group’s supply chain include IT, consultancy, and facility management services — collectively accounting for over two-thirds of procurement-related emissions, particularly within Dutch operations.

To address this, NN Group launched a Responsible Procurement approach in 2024 focused on reducing emissions associated with purchased goods and services. Implementation began with Dutch business units and staff departments and will extend internationally through 2025 and 2026. A centerpiece initiative, the Supplier ESG Engagement Programme, assesses and scores suppliers on climate ambition, net-zero targets, transition plans, and emissions reporting. The Group commits to engaging at least 35% of suppliers by spend by the end of 2025, encouraging existing partners to enhance their sustainability efforts and onboarding new suppliers with expectations and improvement plans related to emission measurement and net-zero commitments.

From Spend-Based to Supplier-Specific Emissions Reporting

Currently, NN Group employs a spend-based emissions reporting methodology. The company plans to transition to supplier-specific emissions data, enabling more precise monitoring of individual suppliers’ progress. This shift aligns with increased corporate transparency requirements such as the Corporate Sustainability Reporting Directive (CSRD) and voluntary sustainability data disclosures from suppliers.

Collaborative Approach to Real-World Decarbonization

NN Group favors engagement over exclusion, opting to work collaboratively with suppliers — including higher-emitting partners — to drive decarbonization across the economy. Clear minimum environmental standards and timelines are established, with contract renewals contingent on demonstrated progress toward sustainability goals. Only where suppliers fail to meet minimum requirements would the Group consider contract non-renewal.

Commitment to Transparency and Ongoing Climate Action

NN Group shares its comprehensive climate and sustainability efforts in its latest Climate Action Plan and related online resources. The company integrates responsible procurement deeply within its overarching sustainability framework, reflecting its ambition to positively influence both its supply chain and the wider ecosystem through practical and measurable actions.

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

About NN Group:
Operating across Europe and Japan, NN Group serves approximately 19 million customers with pensions, insurance, banking, and investment products. Listed on Euronext Amsterdam (NN), its brands include Nationale-Nederlanden, ABN AMRO Insurance, Movir, and others dedicated to sustainable and responsible business practices.

Design Delight Studio curates high-impact, authoritative insights into sustainable and organic product trends, helping conscious consumers and innovative brands stay ahead in a fast-evolving green economy.