Insurers are expected to carry out an effective assessment of the risks and where necessary to adjust their policy accordingly.
In the first year, the parties will initiate joint projects in the field of energy transition and climate change. By collaborating on the projects, they will gain a better understanding of the risks in this field, and action can be taken to tackle them. They will hold one another to account regarding agreed objectives and will work together to find solutions.
International guidelines and agreements make Dutch companies responsible for preventing and tackling these risks. The agreements are laid down, for example, in the:
- UN’s Guiding Principles on Business and Human Rights
- OECD’s Guidelines for Multinational Enterprises
- ILO’s Fundamental Principles and Rights at Work
The OECD guidelines require companies to investigate to what extent they are involved in abuses regarding human rights and the environment, i.e. to carry out a “due diligence”.