Aegon

Aegon publishes case studies describing where it has engaged successfully with investees on sustainability themes and impact topics. In its Active Ownership Report, the company publishes case studies describing where it has engaged unsuccessfully with investees on sustainability themes and impact topics.

Aegon discloses absolute financed emissions in total and by asset class, in addition to the underlying data quality and coverage of its financed emissions. As a member of the Net-Zero Asset Manager Initiative, it has also set a target of net-zero financed emissions by 2050. Regarding engagement, the company discloses that alignment with the Paris Agreement is one of its topics. Also, as a member of Climate Action 100+, it discloses that it collectively engages with its clients on the topic of climate change. Aegon discloses nature- and biodiversity-related impacts as one of its engagement priorities with companies to which it provides financial services. Furthermore, as a signatory to the Finance for Biodiversity Pledge, the company is committed to minimising its negative impacts on nature and biodiversity.

Aegon has a publicly available policy statement committing it to respect human rights and the ILO core labour rights. It also describes the process for identifying its human rights risks and impacts in specific locations or activities covering its own operations. Furthermore, the company has a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints or bribery and corruption concerns. It also takes steps to identify and address bribery and corruption. Aegon discloses a global tax strategy for which an executive-level body has responsibility. Regarding diversity, the company discloses the proportion of women in its total direct operations workforce for each employee category.

In terms of its approach to senior leadership accountability, Aegon could disclose how it assigns responsibility for sustainability to the group’s supervisory board. The company also has an opportunity to link the remuneration of its executive or management teams to sustainability performance criteria. No evidence was found that Aegon is committed to gender equality and women’s empowerment. It has an opportunity to disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. It could also describe its engagement approach on sustainability themes and impact topics with clients and investees.

There is no evidence that Aegon discloses key sectors or companies identified as priorities to engage with on climate issues. While Aegon AM states that it helps its clients to set a strategy aligned with the Paris Agreement, it has an opportunity to make this a requirement. Furthermore, there is no evidence that the company discloses its financing activities devoted to climate solutions. Aegon could disclose its approach to fossil fuels that spans across the fossil fuel value chain, such as the amount or share of finance it directs towards fuels, or its stance on financing companies with new fossil fuel projects.

Aegon has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. While the company discloses the ages of its supervisory board and executive team, it has an opportunity to disclose this information for each employee category. To provide transparency on financial inclusivity, Aegon could disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.