Codes and Guidelines

a.s.r. has signed the Net-Zero Insurance Alliance in December 2021, aiming to achieve a carbon neutral insurance portfolio by 2050.

The UN-convened Net-Zero Insurance Alliance (established July 2021) brings together the world’s leading insurers and reinsurers to play their part in accelerating the transition to net-zero emissions economies. They are committing to individually transition their underwriting portfolios to net-zero greenhouse gas (GHG) emissions by 2050, consistent with a maximum temperature rise of 1.5°C above pre-industrial levels by 2100.

As risk managers, insurers and investors, the insurance industry has a key role in supporting the transition to a net-zero economy. NZIA members will individually set science-based intermediate targets every five years and independently report on their progress publicly on an annual basis. The alliance is working with the Partnership for Carbon Accounting Financials on developing a global standard for measuring and disclosing insured greenhouse gas emissions. This will result in the NZIA target-setting protocol, foreseen to be launched in 2023. 

In December 2020 a.s.r. asset management joined the international initiative to reduce greenhouse gas emissions. A group of 30 international asset managers, with invested assets of more than 7 trillion Euro, together form the Net Zero Asset Managers initiative, a new global platform of asset managers committed to decarbonising their investment portfolios and thereby contributing to the realisation of the goals of the Paris Climate Agreement.

The goal of the Net Zero Asset Managers initiative of the Institutional Investors Group on Climate Change (IIGCC) is to reduce greenhouse gas emissions by the year 2050, or earlier, to net zero, with a clear intermediate target for 2030. This is in line with global efforts to limit average global warming to 1.5 degrees Celsius.

The investments made by asset managers must support these objectives. The commitment also include prioritising the achievement of emission reductions in the real economy within the sectors and companies in which the asset managers invest. In other words, in all investments, the possible impact and the reduction of greenhouse gases must be taken into account separately.

a.s.r. signed the Paris Pledge for Action on 11 December 2015. In it, the signatories express their firm support for the new climate agreement that was signed during the Paris COP21. The Paris Pledge for Action is an initiative of the French presidency of the COP21, which calls upon al organizations, enterprises, regions, cities and investors to subscribe to the Paris Pledge for Action. Through this pledge, the organizations, including a.s.r., confirm their commitment to a safe and stable climate, in which the increase in temperature limited to well below 2 degrees Centrigrade.

The Spitsbergen Ambition is a commitment between Dutch financial institutions that want to combat climate change through their financing and investments. To support this, all participating institutions commit to actively measuring and externally reporting on the climate impact of all measurable financing and investments for 2020. The institutions will also use climate scenario analyses and Science Based Targets (an international initiative of CDP) , UN Global Compact, World Resources Institute (WRI) and WWF to set climate reduction targets in line with science), in order to meet the goals set out in the Paris Agreement. The intention is to discuss progress at least on a semi-annual basis, as well as to share dilemmas and knowledge. a.s.r. signed the Spitsbergen ambition on the 26th of June 2019.

On July 10, 2019 a.s.r. as a party in the financial sector, committed to the climate goals of the government. a.s.r. is actively involved in establishing the commitment of the financial sector, with coordination on behalf of the insurance sector being in the hands of the Dutch Association of Insurers. The approximately fifty banks, insurers, pension funds and asset managers and their umbrella organisations commit themselves from 2020 to report on the climate impact of their financing and investments. In addition, they will have action plans ready by 2022 that will contribute to a reduction in CO2 emissions. The signatory parties organise annual consultations on the progress of the implementation of the agreements. The commitment must contribute to the implementation of the National Climate Agreement, which aims to reduce CO2 emissions by 2030 by 49%.

On July 5th 2018 the insurance sector, civil organisations and the Dutch Government have signed the Covenant for International Responsible Investment in the Insurance Sector (in Dutch: IMVO Convenant Verzekeringsector). The Dutch insurance sector globally invests more than € 500 billion in companies and governments and thereby has the opportunity to influence their behavior. Through this collaboration, the signatories hope to gain better insight and realize a positive impact on international ESG factors.

In September 2019 a.s.r. has signed the Finance Biodiversity Pledge. With this initiative, a group of financial institutions supports various actions to reverse nature loss as much as possible in this decade. The Finance Biodiversity Pledge is an initiative of a group of European financial institutions and was launched at the United Nations General Assembly. The signatories are asking world leaders for a global agreement to reverse wildlife loss in this decade. Together with this group of front runners, a.s.r. has made several tangible agreements to support the biodiversity of our earth and to combat nature loss. 

More information: https://www.financeforbiodiversity.org/

a.s.r. is one of the fourteen Dutch financial institutions – the Platform for Carbon Accounting Financials – who have agreed to work together to jointly develop open source methodologies to measure the carbon footprint of their investments and loans. By measuring and disclosing this information they expect to develop more effective strategies that help contribute to a low carbon society, in the hope that other institutions will follow soon.

The Platform Living Wage Financials (PLWF) is an unprecedented alliance of 11 financial institutions that encourages and monitors investee companies to address the non-payment of living wage in global supply chains of the garment industry. As an investor coalition with over € 2,3 trillion of Assets Under Management, we use our influence and leverage to engage with our investee companies.

The Science Based Targets initiative (SBTi) is a joint initiative by CDP, the UN Global Compact (UNGC), the World Resources Institute (WRI) and WWF intended to increase corporate ambition on climate action by mobilising companies to set greenhouse gas emission reduction targets consistent with the level of decarbonisation required by science to limit warming to less than 1.5ºC / 2°C compared to preindustrial temperatures. The initiative, launched in 2015, defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. The SBTi developed, in collaboration with over 40 global financial institutions and various knowledge partners, of a robust methodology for financial institutions to set greenhouse gas (GHG) reduction targets and manage the scope 3 downstream emissions of their investments (the so-called Category 5 under the GHG-protocol). a.s.r. was involved in the development of this methodology for financial institutions.

More information:

sciencebasedtargets.org

a.s.r. signed the United Nations Global Compact in 2011. By signing the UNGC, a.s.r. has undertaken to embrace, support and implement within its sphere of influence thes principles relating to human rights, labour standards, the environment and the fight against corruption. 

As part of the UN Global Compact, a.s.r. signed the Call to Action and the Global Development Agenda in 2014. Through this initiative, the private sector calls upon governments to promote anti-corruption measures and to implement good governance principles.

a.s.r. signed the PSI of the UNEP FI in August 2013. By adhering to these principles, a.s.r. demonstrates its belief in the need to integrate sustainability into its insurance operations. The objective of these principles is to reduce sustainability risks, develop innovative solutions and improve the operating performance of businesses in terms of social, economic and environmental aspects. 

a.s.r. signed the UN PRI in 2011. The 1,400 companies worldwide that endorse these principles together manage investments worth € 59 trillion. By applying the six UN principles for responsible investment, a.s.r. contributes to the development of a more sustainable financial system. a.s.r. gives a status update on its progress in meeting the Principles for Responsible Investment every year.

a.s.r. is committed to customers who are unable or unwilling to pay their bills. We do this by actively helping them find a solution to their problems. We have signed the Ethical Manifesto with other large companies. 

On 4 April 2019 a.s.r. has committed to the Climate Action 100+ initiative. Climate Action 100+ is an investor initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change. More than 400 investors with more than $35 trillion in assets collectively under management are engaging companies on improving governance, curbing emissions and strengthening climate-related financial disclosures. The companies include 100 ‘systemically important emitters’, accounting for two-thirds of annual global industrial emissions, alongside more than 60 others with significant opportunity to drive the clean energy transition.

More information:

climateaction100.org

On May 18, 2022, ASR Nederland N.V. signed, together with 39 large Dutch internationally operating companies, the new Tax Governance Code of VNO-NCW. This code provides insight into the tax position of companies and the contribution they make to society. The aim of this new Code is to create a transparent system in which supervision of tax policy and accountability are guaranteed.
This leads to more information about the tax position of listed companies and contributes to confidence.