Dutch central bank updates its guide on climate and environmental risks

The Dutch central bank (DNB) published its updated Guide to Managing Climate and Environmental Risks (PDF) in September 2025. This new edition replaces the original 2023 version (PDF) and aims to support robust management of climate and environmental risks by offering sector-specific good practices across four focus areas: business model and strategy, governance, risk management and disclosure.

Compared to 2023 edition, the guide has been updated to reflect new legislative and regulatory developments and has been expanded with additional good practices – among them approaches to managing environmental-related risks, and addressing the climate ambitions and commitments institutions adopt. By releasing this guide, DNB implements the Network for Greening the Financial System’s (NGFS) recommendation to provide practical tools for managing climate and environmental risks.

The guide remains focused on insurers, pension funds, investment firms and e-money and payment institutions. Banks are explicitly excluded, as they follow the European Central Bank’s supervisory Guide on climate-related and environmental risks (PDF).