Aviva has a strong commitment to sustainability, recognizing the urgent need to address climate change and other environmental challenges. In 2019, the company set a target to achieve net zero carbon emissions by 2040, 10 years ahead of the UK government’s target. Aviva has also pledged to divest from companies that are not aligned with the Paris Agreement’s goals, and to invest £5 billion in renewable energy and other sustainable projects by 2025.
One way that Aviva is driving positive change is through its involvement in the Transition Pathway Initiative (TPI), a global initiative that assesses companies’ readiness for the transition to a low-carbon economy. Aviva is one of the founding members of TPI, and uses its assessments to inform its investment decisions. By engaging with companies and encouraging them to improve their environmental performance, Aviva is helping to create a more sustainable future.
Aviva is also working to improve its own environmental impact. The company has set a target to reduce its carbon emissions by 70% by 2030, and has implemented a range of measures to achieve this goal. These include increasing energy efficiency in its buildings, switching to renewable energy sources, and encouraging staff to reduce their carbon footprint.
In addition to its sustainability initiatives, Aviva has also been recognized for its strong financial performance. The company reported a 13% increase in operating profit in 2021, driven by growth in its general insurance business and cost savings from its restructuring efforts. Aviva has also been praised for its strong governance practices, with a focus on transparency and accountability.
Overall, Aviva is setting a positive example for the insurance industry with its commitment to sustainability and responsible investing. Through its various initiatives, the company is working to create a more sustainable future, while also delivering strong financial results for its stakeholders.