Programme updates

At the beginning of December Friends of the Earth published a critical report on the approach insurers in France have taken towards the issue of climate change.

Even though Friends of the Earth chose not to give an overall ranking of the companies included, a quick calculation puts Aviva France in second position amongst the insurance companies, and in third position if mutual insurance and bank-insurers are included.

The report "French insurance: climate change guaranteed" points its finger at the 15 largest French insurers.

The publication follows an enquiry into the banking sector in 2007 and forms part of their objective of lobbying economic and political powers that have an impact on environmental and social issues, particularly financial bodies. Friends of the Earth's enquiry took eight months and was based on 10 criteria, grouped into three sections - overall climate policy, insurance products and asset management.

A balanced criticism
According to Friends of the Earth, no French insurer is currently implementing a comprehensive climate policy.

"The main problem exists in asset management," the report says. "The insurers' asset management business model only marginally integrates the issue of climate change: no targets have been calculated, there is hardly any share-related activism, and no policy to reduce or suspend investment in companies with the highest pollution rates."

But, it adds, insurers have demonstrated an "open-mindedness" towards the climate issue, greatly superior to the attitude of the banking sector.

Good marks for Aviva France
Aviva France, who invited the heads of the enquiry to Bois-Colombes, came out of it rather well. In terms of governance it was one of the very few companies to declare an awareness of climatic issues. An assertion backed up by fact that the CSR policy of Aviva plc is conducted at top level by its group executive, and the CEO of its business unit.

In addition, Aviva France's general insurance products are mentioned positively, without taking into account that its car and home insurance ranges will be expanding this month with the launch of new innovative "green" products.

On the asset management side, if Aviva France's results do not take into account the creation in September of Aviva Investors, widely recognised for and committed to socially responsible investment.

Charter
Furthermore the report arrives on the eve of the implementation of a "Sustainable Development Charter" by the Association Française de l'Assurance, AFA (French equivalent of FSA in UK) aimed at "increasing responsibility and engaging the sector".

The charter that will represent a commitment on the part of all the insurers who sign it and that has been created with the active participation of Aviva France.