NN Group Advances Sustainable Procurement to Reduce Operational Emissions
NN Group is an international financial services company. It now buys more sustainable products and services. The firm links directly with many suppliers. It seeks lower-carbon offerings through these ties. Procurement becomes a key lever for reducing emissions. The company counts thousands of suppliers.
Key Focus Areas and Emission Insights
NN Group tracks high emissions from procurement. These emissions come from IT, consultancy, and facility management. Two-thirds of these emissions link to suppliers for Dutch units. They support both business and service departments.
Enhanced Emissions Reporting Methodology
Currently, NN Group reports emissions by spend. It will soon use supplier data instead. This switch helps review each supplier’s progress. Many suppliers already follow the CSRD rules. They also share sustainability data. In this way, the change becomes smoother.
Responsible Procurement Program
In 2024, NN Group started a program to lower supplier emissions. It first targets Dutch operations. International rollout will happen in 2025 and 2026. The Supplier ESG Engagement Programme began in 2024 as well. It checks suppliers’ net-zero targets, plans, and data sharing. Each detail is tied closely to current goals.
Supplier Engagement and Collaboration
By 2025, the firm aims to engage at least 35% of supplier spend. Contracts with current suppliers require improvement plans if they do not meet standards. New suppliers must agree to measure and report emissions and to set net-zero targets before signing up. Progress is reviewed when contracts renew.
NN Group does not limit itself only to lower-carbon suppliers. It also partners with higher-emission suppliers. This approach decarbonizes the wider market. Clear minimums and timelines are set. If a supplier fails to improve, contract renewal is the last resort.
Commitment to Climate Action
These efforts form part of NN Group’s Climate Action Plan. The plan embeds sustainability in every business area. The company works closely with suppliers to reach a low-carbon future.
About NN Group:
Operating in 10 countries, NN Group serves roughly 19 million customers. It offers retirement, insurance, banking, and investment services. Its main brands include Nationale-Nederlanden and ABN AMRO Insurance. The company is listed on Euronext Amsterdam (NN).
For more information, visit NN Group’s Climate Action Plan and sustainability pages.
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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