Why Aviva Investors is still shrugging off its responsibilities

Reclaim Finance criticizes Aviva Investors for allowing fossil fuel companies up to three years to develop net zero plans, arguing that this delays urgent divestment. The statement highlights contradictions in Aviva's policy, specifically noting continued investments in coal developers like BHP Group and Glencore, and significant holdings in Polish coal and gas companies such as PGE and PGNiG through third-party managed assets.

• Aviva Investors is criticized for allowing fossil fuel companies a three-year window to create net zero plans and integrate climate risks, which the author claims delays necessary divestments to meet climate goals.
• The author argues that 'integrating climate risks' does not guarantee the mitigation of climate impacts, as companies may diversify into low-carbon sectors while maintaining fossil fuel operations to protect financial results.
• Despite a commitment to phase out coal power by 2030, Aviva Investors maintains investments in coal developers, specifically BHP Group and Glencore.
• Aviva's divestment policy does not apply to third-party assets it manages, resulting in over 250 million euros invested in Polish coal companies via pension funds, including increased holdings in 2020 in Enea, CEZ, and PGE.
• Aviva has increased its investments in the Polish oil and gas sector throughout 2020, including the state-owned company PGNiG.

APA

admin (2021). Why Aviva Investors is still shrugging off its responsibilities. Reclaim Finance. https://reclaimfinance.org/site/en/2021/02/04/aviva-announcement-nothing-new-under-sun/

Chicago

admin. Why Aviva Investors is still shrugging off its responsibilities. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/02/04/aviva-announcement-nothing-new-under-sun/.

Wikipedia

{{cite press release |last1=admin |title=Why Aviva Investors is still shrugging off its responsibilities |publisher=Reclaim Finance |date=4 February 2021 |url=https://reclaimfinance.org/site/en/2021/02/04/aviva-announcement-nothing-new-under-sun/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021why, author = {admin}, title = {{Why Aviva Investors is still shrugging off its responsibilities}}, publisher = {Reclaim Finance}, year = {2021}, month = feb, url = {https://reclaimfinance.org/site/en/2021/02/04/aviva-announcement-nothing-new-under-sun/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }