The Dutch Central Bank (DNB) has revised its guide on managing climate and nature-related risks, originally introduced in 2023.
The move follows growing concerns about the impact of climate change and biodiversity loss on the Dutch financial system, particularly pension funds and insurance companies.
The updated guidance reflects DNB’s expectation that pension funds must identify and manage climate and nature risks effectively. It also introduces enhanced best practice recommendations, shaped through consultations with industry stakeholders such as Ortec Finance.
As part of its supervisory approach, DNB confirmed that from 2026 onwards, it will carry out risk-based assessments of pension funds’ climate and nature risk analyses.
Ortec Finance senior investment consultant Marion Groothuis said, “IIt is positive to see DNB enhance the guidance around best practices to manage climate and nature-related risks. We believe it is important for pension funds to identify and incorporate climate risks into wider risk management frameworks, and look forward to supporting them with implementing best practice guidelines.”
Tijmen Janssen, climate risk specialist at Ortec Finance, added, “As the impact of climate change continues to threaten pension fund returns worldwide, we are ready to support the Dutch pension fund community in identifying climate risks and opportunities. By using our robust climate scenarios we realistically assess and translate systemic climate risks into relevant portfolio-specific insights.”
To help pension funds adopt the updated guidelines, a webinar titled Risicobeheersing aan de hand van de nieuwe klimaat- en natuurgids van DNB will take place on September 29. The session, held in Dutch, will provide practical insights into meeting DNB’s expectations and applying the revised best practice framework.
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