Climate risk

We’re using our expertise to inspire action on climate change though our supply chains, our research, our work with policymakers and by providing tools to help reduce the impacts of climate change. 

The power of supply chains

We’re committed to reducing our own carbon emissions and to using our purchasing power through our supply chain to influence our suppliers. In 2015 we became the first insurer to achieve the Carbon Trust Supply Chain Standard, in recognition of work to measure, manage and reduce carbon emissions outside own direct operational control. 

 

Climate Summit in Paris

The December 2015 UN Paris Climate Change negotiations were hugely important in securing a sustainable future for our customers, the communities we serve, and in turn our business. Unchecked climate change will mean risks too great to insure and will limited returns on investments. We think the Paris Conclusions “to limit temperature rise to well below 2 degrees” is a good outcome. Now it’s time to deliver.

Global Real Estate Sustainability Benchmark (GRESB)

Now in its sixth year, the Global Real Estate Sustainability Benchmark (GRESB) recently assessed the sustainability credentials of over 700 property companies and direct equity funds, representing 61,000 assets and USD 2.3 trillion in value. Of the 17 funds Aviva Investors submitted, 10 were awarded the coveted 'Green Star' and were in the top half or better of their respective peer groups. 

 

Collaboration with Regulators

The Prudential Regulatory Authority (PRA) report: ‘The impact of climate change on the UK insurance sector’, highlights the impact that climate change risk could have on the insurance industry and its customers. We responded to the original survey of insurance companies  (PDF 134.4 KB) and engaged in conversation to shape the report. We’re continuing to assess the three areas of future risk – physical, transitional and liability for our core business areas to help build understanding and find solutions to this important issue.