Our climate ambition
The climate crisis represents the greatest long-term threat to life on our planet and societies. We must be active, ambitious and impactful in the face of climate change to shape a better future.
That’s why our ambition is to become a net zero emissions asset manager by 2040*. This won’t be easy, but we believe the impact and consequences of not acting are far more damaging that the transition to a more sustainable economy.
"The looming climate crisis needs action to reposition economies and societies on a more sustainable footing. We support the commitments set out in the Paris Agreement and believe mitigation of, and adaptation to, climate change is essential to safeguard our clients’ investments." - Mark Versey, Chief Executive Officer
*This will cover all asset classes and investment funds that we manage on behalf of Aviva. Third-party clients are invited to express a preference as to whether they would like the Aviva climate commitment to apply to their portfolio. Customers in collective investment funds will be consulted in line with regulatory requirements.
We are proud to be members of the Net Zero Asset Managers initiative (NZAM) and the Glasgow Financial Alliance for Net Zero (GFANZ) as part of the Race to Zero.
Our climate goals
Climate change is the biggest global systemic risk of our time as well as the biggest market failure in history1. We must act because it is in the best interests of our clients as well as the integrity of the market. We must act because we have the power to do so and it is the right thing for the planet and all life in it.
Shaping the climate debate in a critical year for our planet
2021 presents opportunities for the big, bold change needed to address the climate crisis. With the postponed COP26 UN climate summit due to take place in November, in addition to major, international focal points including the G7, G20, and UN General Assembly, among others.
As the international community still lacks a comprehensive finance strategy for the Paris Agreement, Aviva has been convening a multi-stakeholder coalition of organisations to call for the creation of an International Platform for Climate Finance (IPCF). This new platform will aim to harness the financial system in support of global climate goals, so that the financial sector changes to support the wider economic transition needed for net zero.
See change in action
Climate change is the biggest systemic challenge of our time. Discover how we're approaching climate action and supporting the transition to a low-carbon and climate-resilient world.
This is what climate action looks like
We're on a mission to rewrite the future of investing and create a climate of change. It takes Aviva Investors.
Our climate transition capabilities
Find out how we're seeking transition ready companies to diversify returns and tackle complex challenges like climate change.
Key milestones through a history of climate action
We have been at the forefront of climate action for decades. Our micro-stewardship centres on our investments. We use our shareholder voice to actively engage and support companies in changing corporate behaviours. At a macro level, we have a long history of involvement on climate change policy, engaging with policymakers, global governance bodies and regulators to correct market failures and bring about transformational change.
Harnessing the power of COP to bring about transformational change. Aviva Investors was present at the signing of the Paris Agreement in 2015. Ahead of COP26, Aviva investors is calling for an International Platform for Climate Finance, a new mechanism to mobilise capital to tackle climate change.
Turning talk into action: ESG webcast series
Introducing 'Turning talk into action', a series of thought-provoking webcasts debating the biggest ESG issues with leading experts committed to change. Climate topics include TCFD and portfolio reporting requirements, the transition to net zero in real assets, investing to best support the transition to a low-carbon world, and others.
Real assets net zero pathway
In our commitment to achieving net zero in real assets, we outline the actions we will take to invest in low-carbon solutions and decarbonise existing assets across our portfolio.
What does the data say? Parcels, the (other) Amazon and COVID-19
26 Nov 2021
In this month’s instalment of our visual series on topical data themes, we look at the steep increase in deliveries, the continued deforestation of the Amazon rainforest and the rise of COVID-19 in Europe.
Credit: The long and short of ESG investing
25 Nov 2021
Credit is an asymmetric asset class. The upside is a coupon payment and limited capital appreciation; the downside is a default to zero. For all maturities and bond types, ESG integration can play a crucial role in mitigating risk.
The tyranny of “fit”: If businesses want to maximise their potential, they need to be intersectional
24 Nov 2021
Employees are a company’s greatest asset. Leaders must take an inclusive, intersectional approach to enable them to give their best, argues Apiramy Jeyarajah.
Beyond borders: Reflections on a historic COP meeting
19 Nov 2021
COP26 was billed as ‘the most important meeting in history’. Steve Waygood had a front row seat and shares his thoughts on the climate conference.
What does the data say? All eyes on Glasgow
29 Oct 2021
In this month’s instalment of our visual series on topical data themes, we focus on climate change as the world turns its attention to the COP26 summit in Glasgow.
The AIQ Podcast: Counting emissions and accounting omissions
27 Oct 2021
Increasing numbers of governments and companies are committed to reaching net zero. But how sound is the carbon data on which these commitments are made?
Grow the pie: An interview with Alex Edmans
22 Oct 2021
Interest in ESG investing is expanding at a seemingly exponential rate – and with it the risks of greenwashing only grow. However, Alex Edmans explains why he believes it is possible for companies and investors to create win-win situations for all stakeholders.
A fair COP: Why social justice is vital to climate action
22 Oct 2021
For too long, issues of justice and equality have been left out of the climate conversation. But policymakers, companies and investors are slowly beginning to acknowledge the social dimensions of climate action.
We need to talk about waste: Tackling renewable energy’s dirty secret
21 Oct 2021
Renewable energy has a vital role to play if the world is to combat climate change. But its widespread adoption comes with a price. As older installations come to the end of their useful life, countries urgently need to work out what to do with the waste.
The age of climate extremes: Crises, cascades and comfort zones
20 Oct 2021
The latest assessments from climate scientists suggest some geographical zones that have been lived in for thousands of years are becoming uncomfortably hot and fire-prone or wet and vulnerable to flooding. How will humanity adapt to new extremes? Rick Stathers assesses the evidence.
Cleaning up: Transforming finance for a net zero-world
20 Oct 2021
To align with net-zero emissions targets, the financial system needs a radical transformation. Can it get there and, if it does, what should it look like in 2050?
Counting emissions and accounting omissions: The struggle to measure, monitor and manage corporate net-zero efforts
19 Oct 2021
Internalise the climate externality. That is the major task facing policymakers and corporate executives. However, this requires accurate measurement and incorporation into financial accounts and neither are straightforward.
50 shades of green
18 Oct 2021
With the noise and interest in ESG investing reaching levels that would have been unthinkable a few short years ago, much of the analysis surrounding it is becoming polarised. A more sophisticated conversation and debate is required, argues Mark Versey.
Law and climate: Using the legal stick to accelerate change
15 Oct 2021
Energy majors, cement producers, utilities and financial services providers are among the latest targets of legal action designed to make them move faster towards a lower carbon world. Could this be an inflection point, as the conversation turns to specific responsibilities rather than vague commitments to change?
Without a global finance plan, the climate moonshot will fail
13 Oct 2021
If the world is to achieve the goals of the Paris Agreement, the international financial architecture needs far stronger coordination under a re-tooled OECD, writes Steve Waygood.
From outside-in to inside-out: Transforming finance for impact
8 Oct 2021
To meet the goals of the Paris Agreement, finance must embrace a holistic approach to managing its impact on the environment. Eric Usher, head of UNEP FI, talks to AIQ about this shift in focus and the importance of public and private sector collaboration.
Play your part: Investing to support the climate transition
Today, the climate investment landscape is a veritable mixed bag of active and passive approaches covering a broad spectrum of investment universes and objectives. In this paper, we explore some of the pitfalls of first-generation climate strategies, the meaning of Paris or net zero aligned investments, and the benefits of adopting a holistic approach to climate change investing with a focus on science-based targets.
The Glasgow Financial Alliance for Net Zero (GFANZ) brings together net zero alliances from across the finance sector as part of the Race to Zero. We are also proud to support Aviva’s leading role in GFANZ through our Group CEO Amanda Blanc, who is part of the GFANZ Principals Group.
1. The Economics of Climate Change: The Stern Review is a landmark study that was published on 30 October 2006.
Note: ESG and Climate related engagement, goals and exclusions can vary at the investment strategy and portfolio level depending upon country, jurisdiction and individual client needs.