In August, Dutch financial services group Achmea, released the latest update on its ambitious Climate Transition Plan. This update, published alongside Achmea’s half-year results, reflects the company’s ongoing commitment to combat climate change as part of the Dutch financial sector’s Climate Commitment.

The Climate Transition Plan update highlights the progress Achmea is making towards its climate goals, the new actions it has taken, and the additional goals it has set. Achmea continues to make significant strides towards its interim targets for 2030, surpassing expectations in areas such as the sustainability of its real estate portfolio and the reduction of carbon emissions in its investment portfolio.

Key milestones: Energy-neutral operations by 2030

Achmea has made substantial progress in making its offices more energy efficient. Initially targeting the Apeldoorn location to become energy-neutral by 2025, the latest plan has expanded this commitment to include the Tilburg and Leeuwarden locations, which are now expected to achieve energy neutrality by 2030.

Additionally, the company is aiming for waste-free (zero-waste) offices by the same year. In a further step towards environmental accountability, Achmea has also started to include the carbon emissions generated by its employees working from home in its overall calculations, reflecting the company’s holistic approach to sustainability.

Boosting investments in the energy transition and tightening fossil fuel investment criteria

Achmea recognises the urgent need to accelerate the global energy transition, and as such, has set an ambitious new goal of directing at least 10% of its own capital towards impact investments by 2025. This equates to approximately EUR 4 billion in investments in projects that promote sustainable energy, such as wind and solar energy initiatives, as well as sustainable healthcare real estate. In parallel, the insurer has implemented stricter criteria for investments in fossil fuel companies, underlining its commitment to reducing the global reliance on non-renewable energy sources.

Supporting customers with sustainable products and services

Achmea continues to integrate sustainability into its products and services, offering its customers practical solutions to become more environmentally friendly. The company now provides mortgage loans specifically designed for sustainability improvements, as well as new services such as electric car subscriptions, heat pump installations, and dynamic energy contracts through Centraal Beheer. Achmea’s healthcare division, Zilveren Kruis, is also playing a key role by collaborating with other insurers to make healthcare more sustainable through initiatives like the Green Deal Sustainable Care 3.0.

Additionally, Achmea is advising clients on climate-adaptive measures to enhance their resilience to climate change. The company is involved in public-private partnerships that address critical issues such as flood risks and foundation problems caused by fluctuating water levels.

Collaboration for a climate-resilient future

Achmea emphasises the importance of collaboration between governments, the financial sector, and the business community to successfully transition to a sustainable economy. The company is committed to working closely with other stakeholders to develop innovative solutions for building a climate-resilient society.

Given the fast-paced developments in climate science, legislation, and data collection, Achmea continues to update its Climate Transition Plan on an annual basis to ensure it remains at the forefront of the climate agenda. This approach allows the insurer to incorporate new insights and adjust its strategies as needed to meet both national and global climate goals.

Achmea’s long-term climate targets

As outlined in its original Climate Transition Plan, Achmea is working towards several long-term climate goals, including becoming fully climate-neutral in its business operations by 2030, and achieving a climate-neutral real estate and mortgage portfolio by 2050. The company also aims to make its investment portfolio climate-neutral by 2040 for equities and corporate bonds, and by 2050 for all other relevant asset classes. Its insurance portfolio is targeted to be fully climate-neutral by 2050 as well.

The annual updates to the Climate Transition Plan are a crucial part of the Dutch financial sector’s broader Climate Commitment, which Achmea and other financial institutions have signed onto. This initiative aligns with the goals of the Paris Agreement and requires financial institutions to report on the climate impact of their loans and investments, while also implementing actionable plans to reduce this impact.

Leading the way in the financial sector’s climate transition

Achmea’s consistent progress in reducing its carbon footprint, both as a business and as an investor, demonstrates its leadership in the financial sector’s efforts to combat climate change. By continuously updating its Climate Transition Plan and taking bold action, Achmea is playing a critical role in driving the transition to a sustainable, low-carbon economy.

With ambitious goals set for 2025, 2030, and beyond, Achmea is making significant contributions to the global fight against climate change, and its latest update underscores the company’s unwavering commitment to sustainability.

For more information on Achmea’s Climate Transition Plan, please visit Achmea’s Climate Plan.