Achmea publishes an update to its Climate Transition Plan
First interim targets set for CO2 reduction for the non-life portfolio
We are experiencing the consequences of climate change all over the world. It is creating major social, economic and financial challenges. Today, Achmea is publishing an update to its Climate Transition Plan. For the first time, we are setting interim targets to reduce CO2 emissions associated with our insurance policies.
Publishing and annually updating our Climate Transition Plan is part of the Climate Commitment of the Dutch Financial Sector. This update includes:
- targets to reduce average CO2 emissions associated with our individual non-life insurance portfolio, including 15% to 20% of our motor portfolio by 2030*;
- targets to boost the energy transition, such as offering climate solutions to individuals and businesses;
- initiatives we are taking to contribute to the sustainability of the healthcare sector (Sustainable Healthcare Green Deal 3.0));
- our latest efforts to make our investment portfolio more sustainable including a new engagement programme aimed at CO2-intensive businesses.
Gradual move to a climate-neutral non-life portfolio
We offer solutions to help our customers be more sustainable and in doing so we are also reducing the carbon footprint of our insurance and service portfolios. We are gradually making our insurance portfolio climate neutral. In the first instance, we are focusing on our insurance portfolio for individuals and businesses in the Netherlands. We are starting with the individual motor portfolio and our aim is to reduce the average carbon footprint of this portfolio by 15% to 20% by 2030 compared to 2021.
We will also be holding discussions with businesses that we insure to jointly determine how we can support them even more in the transition, for example by insuring sustainable innovations in energy transition. We are further committed to sustainable repairs and are expanding our services to support homeowners and homeowner associations to make their houses or flats more sustainable.
Implementing the Sustainable Healthcare Green Deal
Healthcare institutions, public authorities and businesses made agreement about making the healthcare sector more sustainable in the Sustainable Healthcare Green Deal. We want to contribute to this by translating the agreements into terms and conditions for healthcare procurement, adapting our range of products and services and helping customers make more sustainable choices if they use healthcare services and/or are working on their health.
Climate Commitment of the Dutch Financial Sector and our own ambitions as a basis
Along with other financial institutions, Achmea has committed to the climate targets of the Dutch Climate Agreement via the Climate Commitment of the Dutch Financial Sector. We take seriously our responsibility to accelerate the transition to a sustainable economy. As a business, insurer, investor and financier, we have set ourselves ambitious goals. Developments are moving at pace and there are more and more new climate insights, legislation, data and measurement methods. This is why we update our Climate Transition Plan annually.
* Vehicle emissions are allocated pro rata to the various parties in the value chain, such as the manufacturer, dealers, damage repairers, banks and the government. As such, this is a shared responsibility. Only a limited part of the emissions is attributable to the insurer.