ICMIF Supporting Member Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has received two awards at Insurance Asset Risk’s UK & Europe Awards 2022, being recognised in the ‘Stewardship initiative of the Year’ and ‘Climate Mitigation Investment Initiative of the Year’ categories.
In being presented with the ‘Climate Mitigation Investment Initiative of the Year’ award, judges highlighted Aviva Investors’ Climate Engagement Escalation Programme, announced last year and which requires 30 ‘Systemically Important Carbon Emitters’ to deliver net zero scope 3 emissions by 2050 and establish robust transition roadmaps to demonstrate their commitment to immediate action on climate change, as a factor in their decision.
Aviva Investors was also presented with the ‘Stewardship initiative of the Year’ award, with judges describing the company as having presented “a clearly articulated strategy with evidence of successful engagement including with governments”, calling out poor business practices and promoting sustainability within business’ strategies. At a macro level, judges highlighted the initiatives by Aviva Investors in “joining and engaging with the Network of Central Banks and Supervisors for Greening the Financial System; and with the Coalition of Finance Ministers for Climate Action.”
Judges also referenced the application of the Climate Engagement Escalation Programme at a sovereign level as part of the reason for their decision, with Aviva Investors writing to 21 finance ministers and central bank governors, setting out priorities that will guide its engagement activities with those issuers whose debt it holds.
Alex Wharton, Head of Insurance Relationships at Aviva Investors, said: “We are grateful to receive these awards for the work done in partnership with our insurer clients, and particularly as they recognise the substantial engagement programmes our investment teams undertake with companies, policymakers, industry bodies and governments, to help the transition towards a low carbon future and to drive material change for our clients. This activity is fundamentally important in giving our investors a voice to influence corporate behaviour and, ultimately, deliver better investment performance.”
As a Supporting Member of ICMIF, Aviva Investors will be present at both the ICMIF Meeting of Reinsurance Officials (MORO), taking place in Germany from 16 to 18 May, and then at the ICMIF Centenary Conference in Rome (Italy) in October 2022