Aviva

The financial institution discloses the monetary amount of its products, services, and capital devoted to nature-positive solutions, with time-bound and measurable targets. It also identifies key sectors, clients, and investees for engagement on nature-related impacts and provides examples of how its offerings support climate adaptation and resilience.

The financial institution has a publicly available policy statement committing to respect ILO core labour rights and expects suppliers to do the same. It does not make political contributions and maintains a gender balance of 40-60% at the senior executive level. Performance criteria for senior executive remuneration are linked to specific sustainability targets, with responsibility for implementing the sustainability strategy assigned to various functions, teams, or committees. The institution has a stewardship policy which supports environmental transitions and social best practices, covering client engagement, advocacy, and partnerships.

The financial institution also has a publicly available policy statement on human rights and discloses its trade association memberships. It aligns lobbying and public policy engagement with its sustainability strategy and identifies sectors with significant nature-related impacts. Emissions are monitored for scopes 1-2, some Scope 3 categories and associated financing activities (Scope 3 category 15), with interim targets set for 2025 and 2030 aligned with a 1.5C trajectory. The institution discloses its operations by country and describes processes for identifying human rights risks and impacts related to its offerings.

The financial institution discloses how it determines a living wage for one country but has the opportunity to disclose its methodology for all regions where it operates. Other recommendations include disclosing processes to avoid divestment from low-income countries due to unintended consequences of sustainability strategies and disclosing risk assessments related to ILO fundamental rights, and mitigation processes for identified risks.

The financial institution adopts a zero tolerance approach to bribery and corruption but could include relevant clauses in contracts with direct business relationships. Evidence of third-party assurance exists, though it is unclear if targets are covered. While it states that trade associations should align with its values, there is an opportunity to commit to not using lobbying to lead to adverse sustainability impacts. The institution discloses information on products and services linked to high-emitting sectors but should specify fossil fuel amounts. It has set exclusion policies for fossil fuels but could disclose a time-bound strategy for phasing out support for existing fossil fuel projects and clients and investees across the fossil fuel value chain, which lack a well-defined strategy aligned with a 1.5°C trajectory. Monitoring of scope 3 emissions is conducted, but additional categories could be included with rationale for exclusions. It is also recommended to identify social risks associated with the net zero transition and provide examples of conclusions and actions taken regarding salient human rights issues from assessments in the last three years.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.