Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate change and energy transition
• Financial self-reliance and inclusion
• Vitality and sustainable employment

Environmental Achievements

• 78% CO2 reduction in own business operations between 2018 and 2021 (partly due to COVID-19 measures)
• 56% CO2 reduction in investment portfolio between 2015 and 2021
• More than 15,000 solar panels installed by the end of 2021
• Purchase of part of the Prinses Ariane wind farm in Wieringermeer

Social Achievements

• Introduced Verduurzamingshypotheek (sustainability mortgage) in 2019, with 27% of new mortgages in 2021 including a sustainability budget
• Offering of insurance products to protect against climate risks, including secondary flood coverage
• Providing customers with tips and advice to prevent climate-related damage
• Aiming for 50% of fire damage and 85% of vehicle damage to be repaired sustainably by 2025

Governance Achievements

• Establishment of an ESG Committee within the Supervisory Board in 2021
• Active participation in sector initiatives like Climate Action 100+, PCAF, IIGCC, and SBTi
• Reporting according to TCFD guidelines on climate-related risks and opportunities

Climate Goals & Targets

Environmental Challenges

• Increasing claims burden due to storms and flooding
• Risk of stranded assets due to climate change and energy transition
• Need to develop methodologies to measure and manage climate targets
• Uncertainty regarding the future impact of climate change on investments and insurance liabilities

Mitigation Strategies

• Setting ambitious climate targets and developing measurement methods (PCAF, CRREM)
• Phasing out fossil fuel investments in three phases
• Investing in sustainable energy generation and green buildings
• Using climate scenarios (orderly, disorderly, failed transition) to analyze future impacts
• Adjusting underwriting policy, products, services, and claims handling to account for climate change
• Engaging with companies to improve their climate performance
• Excluding companies with high greenhouse gas emissions from investment portfolio

Supply Chain Management

Responsible Procurement

• Using sustainable repair companies meeting various sustainability criteria

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Flooding
• Damage to property
• Increased healthcare costs

Transition Risks

• New legislation and regulations
• Technological innovations
• Market and consumer preferences changes
• Stranded assets

Opportunities

• Investing in sustainable energy generation
• Developing insurance products supporting energy transition
• Helping customers adapt to climate risks

Reporting Standards

Frameworks Used: TCFD, PCAF, SFDR, EU Taxonomy

Sustainable Products & Innovation

• Verduurzamingshypotheek (sustainability mortgage)
• Insurance products for solar panels, charging stations, green roofs

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity

Environmental Achievements

• Reduced the carbon footprint of the investment portfolio by 65% between 2015 and 2022.
• Reduced CO2 emissions in own business operations by 51.1% in 2022 compared to 2018 (target is 50% by 2025).
• Achieved energy consumption of 47.5 kWh per square meter at the head office in 2022 (target is 50 kWh by 2030).

Social Achievements

• Launched Sustainable Living Platform, attracting half a million unique visitors in 2022.
• Introduced Sustainability Mortgage in 2019, resulting in an average improvement of 1.5 in energy performance certificate classification.
• A majority interest in repair company Soopie was taken at the beginning of 2023 to promote sustainable damage repair.

Governance Achievements

• Established an ESG committee within the Supervisory Board in 2022.
• Established a Sustainability Committee in 2022 to discuss sustainability dilemmas and advise the Executive Board.
• Signed the Net-Zero Insurance Alliance, committing to a climate-neutral insurance portfolio by 2050.

Climate Goals & Targets

Environmental Challenges

• Increasing damage from extreme weather events leading to higher claims costs.
• Transition risks related to the shift to a climate-neutral society, including stranded assets.
• Difficulty in measuring the climate impact of the insurance portfolio due to limited customer data on greenhouse gas emissions.

Mitigation Strategies

• Developed a Climate Risk Monitor for real estate and mortgage portfolios to assess vulnerability to climate change.
• Engaging in dialogue with companies to improve their climate policies and excluding the biggest polluters from the investment portfolio.
• Developing methodologies to measure and report on CO2 emissions of investments and insurance products, using PCAF and CRREM.

Supply Chain Management

Responsible Procurement

• Use of environmentally friendly materials in sustainable damage repair.

Climate-Related Risks & Opportunities

Physical Risks

• Storms
• Flooding
• Droughts
• Extreme weather
• Rising sea levels
• Land subsidence
• Salinization

Transition Risks

• Stranded assets
• Changes in government policies
• Technological innovations
• Market shifts

Opportunities

• Investments in renewable energy
• Sustainable real estate development
• Development of sustainable insurance products

Reporting Standards

Frameworks Used: TCFD, PCAF, SFDR, EU Taxonomy

Certifications: BREAAM In-Use

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 13 (Climate Action)
• Goal 15 (Life on Land)

a.s.r.'s initiatives contribute to these goals through investments in renewable energy, reduction of greenhouse gas emissions, and promotion of biodiversity.

Sustainable Products & Innovation

• Sustainability Mortgage
• Insurance products for solar panels, charging stations, green roofs, etc.

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity

Environmental Achievements

• 70% CO2 reduction in investments compared to 2015
• 52% CO2 reduction in own business operations compared to 2018
• Utrecht office is Paris Proof and received WEii certificate

Social Achievements

• Launched Sustainable Accommodation platform, winning the Adfiz Performance Survey in 2023 in the Sustainable Development category
• 30% of new mortgages in 2023 included financing for sustainability

Governance Achievements

• Established an ESG committee within the Supervisory Board (Nomination and ESG Committee)
• Implemented a Sustainability Committee since 2022

Climate Goals & Targets

Environmental Challenges

• Increasing damage from extreme weather events
• Transition risks related to the energy transition (e.g., stranded assets)
• Lack of data on biodiversity impact and dependencies

Mitigation Strategies

• Including climate risks in strategic risk analyses
• Supporting customers in preventing or mitigating climate risks
• Accelerating the energy transition through investments and engagement
• Using the TNFD framework and LEAP assessment to assess nature-related risks and opportunities
• Implementing sustainable repair strategies
• Establishing a sustainability desk to assess risks of new sustainable initiatives

Supply Chain Management

Responsible Procurement

• Use of ‘bio-based’ materials
• Sustainable claims handling

Climate-Related Risks & Opportunities

Physical Risks

• Storms, floods, droughts, heat waves

Transition Risks

• Government policies, technological innovations, market changes

Opportunities

• Investments in renewable energy, sustainable building practices

Reporting Standards

Frameworks Used: TCFD, TNFD, PCAF, EU Taxonomy, SFDR, CSRD

Certifications: WEii, BREEAM In-Use

Sustainable Products & Innovation

• Sustainability Mortgage
• Insurance products covering solar panels, charging stations, green roofs

Awards & Recognition

• Adfiz Performance Survey 2023 (Sustainable Development)

Environmental Metrics

ESG Focus Areas

• Sustainable living & climate
• Financial self-reliance & inclusion
• Vitality & sustainable employability

Environmental Achievements

• Sustainable damage repair service offered to non-life customers, using certified repair companies.
• Sustainability mortgage offering lower cost borrowing for energy-saving measures.
• Property insurance includes coverage for solar panels, heat pumps, and other sustainable technologies; 'post-damage sustainability' option allows for additional sustainability measures during repairs.

Social Achievements

• Starter Mortgage for first-time homebuyers.
• Funeral Insurance for clients of guardians.
• Social debt collection policy applied.
• a.s.r. Vitality program encourages physical activity and healthy lifestyle.
• Doorgaan proposition offers preventive services like Mindfulness courses and Personal Health Checks.
• De langer mee AOV disability insurance for self-employed individuals includes coaching and retraining advice.

Governance Achievements

• Annual review and update of the Policy on Sustainable Insurance by the central Sustainability team, with support from business units and the Sustainability Committee.
• Management Board is ultimately responsible for and formally adopts the policy.
• Compliance with and implementation of the policy is the responsibility of individual business units.

Climate Goals & Targets

Environmental Challenges

• Balancing sustainability goals with financial solidity and business continuity.
• Assessing and managing ESG risks in underwriting and product development.
• Ensuring inclusion of vulnerable groups in insurance offerings.

Mitigation Strategies

• Integration of sustainability into business operations, investments, and insurance products and services.
• Strict exclusion policy for controversial activities.
• ESG risk assessment process for corporate clients, including integrity risk assessment and sustainability risk assessment based on exclusion lists and sensitive sectors.
• Engagement with clients on corporate responsibility and sustainability risk mitigation.
• Product Approval and Review Process (PARP) incorporates customer and social interest, including sustainability factors.
• Focus on insuring sustainable product elements and coverages to encourage customer sustainability.

Supply Chain Management

Responsible Procurement

• Collaboration with certified repair companies for sustainable damage repair.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes related to climate change

Opportunities

• Development of sustainable insurance products and services.

Reporting Standards

Frameworks Used: UN Principles for Sustainable Insurance (PSI), Corporate Sustainability Reporting Directive (CSRD)

Sustainable Products & Innovation

• Starter Mortgage
• Funeral Insurance for clients of guardians
• a.s.r. Vitality
• Doorgaan
• De langer mee AOV
• Sustainable damage repair
• Sustainability mortgage
• Property insurance with sustainable features
• Flood coverage
• Insurance for electric vehicles and vessels