UK financial service firm’s environmental targets exceed Paris Agreement guidelines.
UK insurance and financial services giant Aviva has unveiled an ambitious target of becoming net-zero of carbon emissions by 2040.
The company’s strategy for reaching its goal includes a 25% reduction in the carbon intensity of its investments by 2025, which would increase to a 60% reduction by 2030, which is beyond the 50% cut required by the Paris Agreement. It also said it will aim to reach net-zero carbon emissions from its own operations and supply chain by 2030.
“As the UK’s leading insurer, we have a huge responsibility to change the way we invest, insure, and serve our customers,” Aviva Group Chief Executive Officer Amanda Blanc said in a statement. “For the world to reach net-zero, it’s going to take leadership and radical ambition. And it is going to take Aviva to play our part.”