The Women in Finance Climate Action Group has developed a framework to help financial institutions support women in the net zero transition and limit the negative impact of climate change on women. This is the first framework designed specifically for private investors and the key role they play in financing net zero. The Group argues that whilst climate change disproportionately impacts women, women remain seriously under-represented in climate policy, climate decision-making and climate finance.
The Action Framework, created in collaboration with the Oliver Wyman Forum and 2X Global, is available to download here. The Women in Finance Climate Action Group comprises women leaders from business, the public sector and civil society including from WWF-UK and the Bank of England.
Amanda Blanc, Aviva’s Group CEO, said:
“Private capital is key to mobilising the trillions of dollars required over the next three decades to limit warming to 1.5 degrees. And yet the global private finance sector does not currently have the tools or incentives in place to evaluate and improve the impact of climate finance on gender equality. We need more data to measure the impact of specific climate investments or project financing on women and girls. We hope this Framework will give financial institutions what they need to begin to measure and deliver greater gender equality when taking action on net zero.”
Rupal Kantaria, Partner, Oliver Wyman Forum, added:
“This first-of-its-kind Action Framework for investors embeds gender considerations into climate investment decisions. Both are critical for financing a faster and more just climate transition.”
Notes to editors:
- We are one of the UK’s leading Insurance, Wealth & Retirement businesses and we operate in the UK, Ireland and Canada. We also have international investments in India and China.
- We help our 18.7 million customers make the most out of life, plan for the future, and have the confidence that if things go wrong we’ll be there to put it right.
- We have been taking care of people for more than 325 years, in line with our purpose of being ‘with you today, for a better tomorrow’. In 2022, we paid £23.2 billion in claims and benefits to our customers.
- Aviva is a market leader in sustainability. In 2021, we announced our ambition to become Net Zero by 2040, the first major insurance company in the world to do so. This plan means Net Zero carbon emissions from our investments by 2040; setting out a clear pathway to get there with a cut of 25% in the carbon intensity of our investments by 2025 and of 60% by 2030; and Net Zero carbon emissions from our own operations and supply chain by 2030. Find out more about our climate goals at www.aviva.com/climate-goals and our sustainability ambition and action at www.aviva.com/sustainability
- While we are working towards our sustainability ambitions, we acknowledge that we have relationships with businesses and existing assets that may be associated with significant emissions. More information can be found at https://www.aviva.com/sustainability/climate/
- Aviva is a Living Wage, Living Pensions and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at https://www.aviva.com/about-us/our-people/
- As at 30 June 2023, total Group assets under management at Aviva Group were £358 billion and our estimated Solvency II shareholder capital surplus was £7.8 billion. Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
- For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us
- The Aviva newsroom at www.aviva.com/newsroom includes links to our spokespeople images, podcasts, research reports and our news release archive. Sign up to get the latest news from Aviva by email.
- You can follow us on:
- For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva