Climate Finance Policy Engagement Analysis
Climate Lobbying Overview: Aviva is a leader in advocating for regulation on sustainable finance, with subsidiary Aviva Investors contributing a significant proportion of its policy engagement.
Top-Line Messaging on Climate-Related Financial Policy: In a 2023 consultation response Aviva advocated for systemic reforms to deliver a sustainable financial system, and supported engagement with policymakers to tackle systemic climate risks and market failures. Aviva supported urgent action to limit global temperature rise to 1.5C in its 2022 Responsible Investment Review. Aviva has consistently advocated for policymakers to increase the ambition of climate-related finance policy to achieve net zero goals in the EU, UK and globally. In its 2022 Responsible Investment Review Aviva it pressed for stronger international action on sustainable finance, and in a 2023 consultation response, it pushed for the UK government to produce a detailed roadmap on the future of the sustainable finance framework. In addition, in a 2022 joint paper, Aviva supported introducing alignment with net-zero by 2050 as a statutory secondary objective for UK financial regulators.
Position on Regulated Corporate Climate Disclosure: Aviva has strongly supported policy to mandate climate disclosure, often advocating for increased ambition. In 2022, Aviva supported the SEC’s proposed climate disclosure rule in an investor letter, and advocated for an increase in ambition of disclosure regulation in the UK in comments to the environmental audit committee. Additionally, Aviva has advocated for mandatory net-zero transition plans in its 2023 Climate-Related Disclosures Report and in 2023 comments to the Environmental Audit Committee, with Aviva's CEO Amanda Blanc co-chairing the UK Transition Plan Taskforce (TPT).
Position on Climate Standards/Labels/Benchmarks: Aviva supported the UK FCA’s proposed fund labels, including the expansion of labeling and anti-greenwashing provisions to overseas funds in a 2023 consultation response. However, while it supported limitations on the use of climate terms in fund names, it suggested narrowing the prohibited list.
Position on Incorporating Climate Factors Into Investor Duties: In comments to the FCA in 2023, Aviva advocated for the extension of the UK Sustainability Disclosure Requirements regulation to institutional investors, and supported consumer-facing disclosures.
Position on Incorporating Climate Factors Into Risk Management/Prudential Regulation: Avivaappears strongly supportive of increased ambition on climate-related risk regulation. In its 2022 Climate Transition Plan, Aviva advocated for central banks to be given net-zero mandates, and for global coordination on climate stress testing. Furthermore, in response to the UK government’s 2022 Call for Evidence on the update to the Green Finance Strategy, Aviva advocated for greater supervisory and macro-prudential powers for regulators to tackle climate-related risk in the financial system.
Position on Real Economy Climate Policy: Aviva has been broadly supportive of real economy climate policy, supporting policy action on carbon pricing and GHG emissions targets on its corporate website. It has also supported implementation of emission standards aligned with the Global Methane Pledge as a signatory to the 2024 Global Investor Statement.
Position on Energy, Industry, and Land Transition: Aviva has advocated for the phase-out of fossil fuel subsidies in its 2022 Climate Transition Plan, and as a signatory to the 2024 Global Investor Statement. It has also advocated for ambitious policy to enable to delivery of the 2030 phase-out target for ICE vehicles in its 2023 Climate Policy White Paper.
Industry Association Governance: Aviva has disclosed a partial list of its industry association memberships, however, it appears to exclude three industry associations that are actively engaged on climate policy, including UK Finance, ISDA, and SIFMA. Aviva's disclosure includes a broad commitment to align memberships with environmental commitments. However, it has not disclosed an account of its industry associations' positions and engagement activities, and as a result has excluded instances of engagement such as the ABI's consultation response on zero emission vehicle design in the UK, or opposition to the inclusion of a climate risk model in default pensions in comments to the FCA in 2022.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q1 2025.