NN Group collaborates with peers to intensify engagement with investees

Written by Dan McGrath

21/6/2023

NN Group has joined two investor engagement efforts, in an attempt to further strengthen its active ownership activities as a large investor.

The Dutch insurance group has joined with the Ceres’ Valuing Water Finance Initiative (WVFI) and the Platform Living Wage Financials (PLWF), allowing it to achieve maximum influence, whilst pooling resources and expertise.

VWFI is a global investor-led effort, launched in August 2022 with 64 investor signatories, to engage companies with a high water footprint to value and act on water as a financial risk and drive the necessary large-scale change to better protect water systems. The initiative has a water framework that assesses companies’ water impacts and has identified 72 companies to engage with.

PLWF is a collaboration of 20 financial institutions with over €6.9trn of assets under management and advice that encourages and monitors investee companies to enable living wages and incomes for workers in their global supply chain.

NN has already become a signatory of the worldwide Climate Action 100+ programme, which supports engagement conducted on climate-related topics.

Head of corporate citizenship of NN Group, Fleur Hudig said: “We are committed to being an active asset owner, and working together with other investors will bring engagement efforts with our investee companies to the next level. Joint engagement is a powerful tool that allows us to influence change and encourage companies to improve their environmental, social, and governance (ESG) practices more effectively.

“As a responsible corporate citizen, we have identified water stewardship and promoting a living wage as two important engagement priorities. By joining these initiatives, we are contributing to long-term value that benefits society at large.”

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