NN Group Advances Sustainable Procurement to Reduce Operational Emissions

NN Group, a leading international financial services company, is intensifying efforts to procure more sustainable products and services within its own operations. The initiative is part of the company’s broader commitment to support the transition toward a more sustainable world and lower its carbon footprint related to purchased goods and services.

Strategic Focus on High-Impact Procurement Categories

NN Group’s Sustainability Officer Procurement, Anies Langerak, highlights that IT, consultancy, and facility management represent the largest share of procurement emissions, particularly for the Dutch business units and supporting staff departments, which account for over two-thirds of supplier-related emissions. With thousands of suppliers and significant annual procurement spend, NN Group recognizes the potential for meaningful environmental impact through more sustainable purchasing practices.

Moving from Spend-Based to Supplier-Specific Emissions Reporting

Currently, NN Group employs a spend-based methodology to estimate emissions from purchased goods and services. The company’s future strategy involves transitioning to supplier-specific emissions reporting, leveraging actual greenhouse gas (GHG) data from suppliers subject to the Corporate Sustainability Reporting Directive (CSRD) or voluntary sustainability disclosures. This will enable more precise tracking of emission reduction progress across individual suppliers.

Responsible Procurement Approach and Supplier ESG Engagement

In 2024, NN Group developed and initiated a responsible procurement framework, starting with implementation in Dutch business units and planning gradual rollout internationally through 2025 and 2026. A cornerstone of this framework is the Supplier ESG Engagement Programme, designed to evaluate supplier climate ambitions, net-zero targets, transition plans, and emissions reporting transparency.

NN Group aims to engage at least 35% of its supplier base by spend by the end of 2025. The company encourages existing suppliers who do not currently meet its standards to adopt improvement plans, such as setting net-zero targets and enhancing emissions reporting. For new suppliers, these requirements are integrated at the contracting phase with ongoing progress evaluations tied to contract renewals.

Collaborating for Real-World Decarbonization

Rather than limiting relationships only to low-emission suppliers, NN Group emphasizes collaborative engagement with high-emitting suppliers to foster decarbonization initiatives and contribute to broader real economy change. While the company sets clear minimum standards and timelines, contract extensions depend on demonstrable progress toward sustainability goals.

Commitment and Transparency

The full scope of NN Group’s climate actions, ambitions, and progress across business areas is detailed in their latest Climate Action Plan, publicly accessible via the company’s website.

About NN Group:
NN Group operates in 10 countries, serving approximately 19 million customers with pensions, insurance, banking, and investment services. The group comprises brands including Nationale-Nederlanden, ABN AMRO Insurance, Movir, and others, and is publicly traded on Euronext Amsterdam under ticker "NN."

For further information, contact Gerbert van Genderen Stort, Spokesperson for Corporate Matters and Sustainability at Gerbert.stort@nn-group.com.

This summary highlights NN Group’s proactive measures in sustainable procurement, showcasing leadership in supplier engagement and emission transparency aimed at meaningful environmental impact.

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