Aviva, the global savings, investment and insurance group, has announced its commitment to become the first insurer to carbon neutralise its operations on a worldwide basis.
Aviva, the global savings, investment and insurance group, has announced its commitment to become the first insurer to carbon neutralise its operations on a worldwide basis.
Allan Griffiths, chief executive officer of Aviva Australia, said the announcement provided an important endorsement of Aviva Australia's ongoing program of sustainable business practices including limiting its impact on the environment.
Aviva will compensate for the carbon output of its consumption of non-renewable sourced electricity and gas from buildings and business travel, including air, car and train, across all of its global operations. This will be on a retrospective basis starting with emissions generated in 2006.
To neutralise the carbon impact of its business globally, Aviva will invest in projects which generate carbon credits. The credits will come from a combination of carbon mitigation methods such as tree planting and renewable energy generation projects which do not release carbon to the atmosphere such as solar or wind power.
“Aviva Australia already invests in environmental programs,” said Allan Griffiths. “These include a partnership with Conservation Volunteers Australia to plant native Australian flora, along with being a signatory to the United Nations Environmental Program Financial Initiatives. We monitor and report on our greenhouse gas emissions through the Greenhouse Challenge Plus audit program. We are also heavily involved in community education on sustainability through an information sharing program with the Monash Environment Institute and through our role on the steering committee for the Melbourne-based Business and the Environment (BATE) forum.”
As well as reducing emissions by efficient use of energy and encouraging staff to use public transport or to walk or cycle to work, Aviva Australia will continue its targeted community education program including sustainable agreements with suppliers, public reporting through its annual Corporate Social Responsibility report and public presentations and papers on sound sustainable practice.
Allan added: “Our funds management company, Portfolio Partners, is a leader in the Australian market for sustainable investment, launching their Long/Short Sustainability Trust and becoming the first Australian Fund Manager to be a signatory on the United Nations ‘Principles for Responsible Investment’. In 2006, Portfolio Partners was recognised for its own sustainable business practices at the Australian Business Awards – winning in three categories - Recommended Employer, Environmental Awareness and Innovation.”
Portfolio Partners report directly to Aviva’s Morley Funds Management group in the United Kingdom. Morley Funds is a leader in socially responsible investment and has long been promoting effective corporate responsibility towards climate change through its signature to the "Institutional Investors' Statement on Climate Change".
Richard Harvey, group chief executive, Aviva plc said: "Our decision to go carbon neutral is a significant step and one we have not entered into lightly. We believe climate change to be the most important environmental issue facing the world and as a forward thinking company we are playing our part in addressing this challenge and would encourage other businesses to follow suit.”
"Aviva operates in 25 countries around the world making us well placed to make a positive impact on the environment and educate others on the importance of the issue and its effect.”
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Notes to editors:
- Aviva Australia is a group of two specialist financial services companies: Navigator and Norwich Union Life Australia Ltd. Portfolio Partners is the Australian funds management arm of Aviva plc. Through these companies we provide products and services in the areas of wealth creation and wealth protection for more than 300,000 customers throughout Australia.
- Globally, Aviva Australia is part of Aviva plc, the world’s fifth-largest insurance group, the UK’s largest insurance services provider (based on gross worldwide premiums at 31 December 2005), and one of the leading providers of life and pension products to Europe, with substantial positions in other markets around the world.
- Aviva’s principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of A$82.3 billion (Ł35 billion) and assets under management of A$745 billion (Ł317 billion) at 31 December 2005.
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