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https://www.reinsurancene.ws/aviva-intends-to-become-a-net-zero-company-by-2040/

Aviva intends to become a net zero company by 2040

2021-03-01 11:00:29, , ReinsuranceNe.ws

Content Categorization
/Finance/Insurance

Word Count:
905

Words/Sentence:
70

Reading Time:
9.05 min

Reading Quality:
Advanced

Readability:
16th or higher

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For the world to reach Net Zero, it's going to take leadership and radical ambition.

However, the firm does expect to need to remove residual emissions in 2040 and will invest in nature-based solutions and other options to do this.

And it is going to take Aviva to play our part."

Kwasi Kwarteng, Business and Energy Secretary, added: "Businesses have a huge and vital role to play in tackling climate change.

Aviva's pledge should push others to outline their own ambitions to tackle the climate crisis head on and build a better world for our children."

UK insurer Aviva has unveiled plans to become a net zero carbon emissions firm by 2040, as the company sets targets ahead of those required by the Paris Agreement.

The Aviva plan includes net zero emissions from its investments by 2040; a cut of 25% in the carbon intensity of its investments by 2025 and of 60% by 2030; and net zero carbon emissions from its own operations and supply chain by 2030.

The company explains that it will include its scope 1, 2, and 3 emissions, and include shareholder assets and policyholder assets where Aviva has control over the decision making.

The insurer has established a pathway to achieve its goal with immediate actions and targets for 2025, 2030, and 2040, with progress towards its targets tracked through annual, public reporting.

Aviva is also taking further action on coal immediately.

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