Environment

Net Zero by 2040: A message from our Group CEO

Being the UK’s largest insurer brings huge responsibilities. To our people, our customers, our shareholders and to all the communities in which we operate.

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Transcript

• For over 300 years, Aviva has been helping people build a better tomorrow. And living up to that promise has never been more important than it is today.

• The climate crisis is the single greatest threat facing humanity. So, it makes me very proud to announce that we, Aviva...you...have announced today that we are reducing our carbon emissions to Net Zero by 2040.

• and it covers emissions from our own operations, from our supply chain and from the investments we make on behalf of our cutomers and our shareholders.

• Now it's not going to be easy. Infact, it's probably the most challenging target that we have ever set ourselves and we are bringing it upon ourselves.

• But I firmly believe that Aviva has a clear responsibility to act. We've got the power to make a real difference - put our own house in order and at the same time inspire and influence others to reach the same crucial goal.

• Because acting on climate change is no longer a choice, if it everwas. Building a sustainable future for our customers, for ourselves, is going to take bold actions and decisive leadership. I am determined that Aviva plays our part to the full.

• Working for a company that has such clear social responsibilities is a real privilege. It's one that I take very seriously and I hope you all do too. We're doing this together - on behalf of you and me, our friends and our families. For our communities now and for the generations to come.

But we also have a responsibility to ensure that what we do as a business has little, if any, impact on the environment.

Aviva has a strong and long track record in promoting sustainability, but such is the scope and scale of the environmental crisis facing all of us, we have to do more. Much more. Which is why today, we are announcing the most demanding carbon reduction plan of any major insurer in the world today.

For over 300 years, Aviva has been a company that faces up to the challenges ahead. And with a climate disaster looming, those challenges have never been more pressing or threatening than they are today.

For over 300 years, Aviva has been a company that faces up to the challenges ahead. And with a climate disaster looming, those challenges have never been more pressing or threatening than they are today. Which is why we are setting out this plan to become a carbon Net Zero company by 2040.

Our plan to reach that target covers not only the emissions we produce ourselves but also those contributed by our suppliers and, as far as possible, by those investments of our shareholders and customers. We have created distinct categories to manage and track progress which are detailed here.

We have always taken our responsibilities to society seriously, but the reality of the threat has mandated that this become a key strategic issue for us as a company, as it should be for all companies. Our ability to perform as a business is entirely dependent upon societies and economies being able to operate effectively and that will become increasingly impossible if climate change, and our role in accelerating it, is left unchecked. 

Facing up to this challenge and getting ahead of it is the best thing we can do, not only for our customers and shareholders, but for all of society.

We believe facing up to this challenge and getting ahead of it is the best thing we can do for all of our stakeholders and we must reduce the risks and seize the opportunities presented by a new kind of economy for everyone.

So today we are setting out a clear pathway of how we’ll use the influence of our investment and underwriting to support and drive the transition to a zero-carbon economy.

We do not underestimate the scale of the challenge ahead. Many pieces of the puzzle are still missing: the data is imperfect. Methodologies are incomplete. There is no consistent global set of standards.

But the urgency of the climate crisis means we can no longer wait for everything to be neatly laid out before we act. We may not know every step, but the direction is clear and we will do everything in our power to reach our goal.

Success will depend on new technologies and innovations. It will require new partnerships and ways of working. It will take science, technology, government, industry and society all pulling in the same direction. It will also take Aviva. 

Amanda Blanc, Group CEO