NN Group Advances Sustainable Procurement to Reduce Environmental Impact
NN Group, a leading international financial services company, is reinforcing its commitment to sustainability by enhancing the procurement of more sustainable products and services within its operations. Recognizing that procurement significantly influences its carbon footprint, the company leverages its substantial annual spend and extensive supplier network to promote greener practices.
Focus on High-Impact Procurement Categories
NN Group identifies IT, consultancy, and facility management as its most carbon-intensive and high-expenditure procurement categories. More than two-thirds of related supplier emissions originate from the Dutch business units and staff departments, highlighting a key focus area for emission reduction.
Transitioning to Supplier-Specific Emissions Reporting
Currently, NN Group employs a spend-based method to report emissions from purchased goods and services. Moving forward, the company plans to adopt supplier-specific emissions data, enabling more precise monitoring of each supplier’s progress in reducing greenhouse gas (GHG) emissions. This transition aligns with regulatory frameworks like the Corporate Sustainability Reporting Directive (CSRD), with NN Group beginning to collect actual GHG data from suppliers capable of providing it.
Responsible Procurement Approach and Supplier ESG Engagement
In 2024, NN Group launched a responsible procurement approach initially within its Dutch operations, with plans to extend internationally by 2026. Central to this strategy is the Supplier ESG Engagement Programme, which assesses suppliers’ net-zero ambitions, emissions targets, and transition plans. NN Group aims to engage at least 35% of its suppliers by spend by the end of 2025, fostering collaboration to elevate sustainability standards.
Collaborative Decarbonization over Supplier Exclusion
Rather than severing ties with high-emission suppliers, NN Group emphasizes partnership and engagement to drive decarbonization across its supply chain. While setting clear minimum requirements and timelines, the company encourages improvement plans such as emissions measurement and net-zero target setting. Contracts may not be extended if suppliers fail to demonstrate sufficient progress, balancing rigorous standards with constructive support.
Commitment to Climate Action
NN Group’s proactive procurement strategy is a cornerstone of its broader climate ambitions, detailed in its latest Climate Action Plan. By integrating sustainability deeply into sourcing practices, NN Group not only mitigates its operational emissions but also contributes to systemic change in the wider economy.
About NN Group:
Operating in 10 countries with around 19 million customers, NN Group offers services in pensions, insurance, banking, and investments. The Group includes brands such as Nationale-Nederlanden and ABN AMRO Insurance and is listed on Euronext Amsterdam (NN).
For detailed insights on NN Group’s sustainability efforts and climate strategy, visit their website.
Contact:
Gerbert van Genderen Stort, NN Group Spokesperson – Corporate matters, Sustainability & Responsible Investment
Email: Gerbert.stort@nn-group.com | Phone: +31 (0)6 10 19 58 32
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