Our plan sets out a roadmap for Aviva’s transition, within a wider transition of the communities and societies in which we live and work.
The importance of the transition
For more than 328 years, Aviva has been helping our customers prepare for the uncertain, the unexpected, and the unprecedented. Climate change is widely recognised as a critical systemic risk experienced globally.
We at Aviva clearly see the impact of climate change on our customers’ lives. Floods, wildfires, and other catastrophic weather events are no longer just distant possibilities; they are realities we are experiencing today, with increasing frequency and severity. In addition, transition risks emerge as we move towards a lower-carbon economy. Collectively, we must navigate this shifting landscape with agility and foresight.
As an insurer and long-term investor, we have an important role in helping our customers manage the risks associated with climate change so that they can approach the future with confidence. We have learned a lot since our first Transition Plan in March 2022. We have since met our near-term ambitions and remain committed to our long-term ambition to become a Net Zero company by 2040.
Our latest Transition Plan sets out a roadmap for Aviva’s transition, within a wider transition of the communities and societies in which we live and work. While we are realistic about the challenges ahead, we are optimistic about what we can achieve if we work together, and we are committed to playing our part.
Our Net Zero journey
- We have been a carbon-neutral organisation since 2006 and first announced our ambition to become a Net Zero company by 2040 in March 2021, and were the first major global insurer to do so.
- We published our first Climate Transition Plan1 in March 2022.
- We published our second Transition Plan – in February 2025 – This detailed our updated climate strategy and approach to achieving our ambition across our business. We are continuing to deliver our climate ambition through an implementation strategy based on actions across our investment, insurance, and operational activities. Our approach is underpinned by engagement with key stakeholders we need to support and influence in our Net Zero journey and enabled by our governance, risk management, and reporting frameworks.2
- We have set near-term science-based ambitions for 2030 and are making good progress against them. Read about our progress
- We believe that achieving a global transition to Net Zero requires an integrated approach. This means an inclusive transition to a low-carbon, climate-resilient and nature-positive world. We intend to increasingly focus our efforts on supporting such an integrated transition, through building out strategic approaches to nature, adaptation and Just Transition issues, and increasing our understanding of the potential trade-offs and synergies of actions associated with these issues and Net Zero.
- We view transition planning as an iterative process and have continued to develop our strategy to align with the latest climate science, industry standards, and our understanding of how climate-related risks and opportunities affect our business and customers.
Medium-term ambitions
(2025-2030)3:
70%
of suppliers by spend setting validated science-based targets by year-end 20254
Electrify
our UK and Ireland fleet by year-end 2025 and rest of world by year-end 2027
100%
electricity from renewable sources maintained up to and beyond year-end 2025
Insure the Transition
through supporting our customers’ transition to EV ownership, through continued proposition development
60%
reduction in the Scope 1 and Scope 2 economic carbon intensity of equity, corporate bonds and loans, infrastructure and real estate assets held in shareholder, with-profits and policyholder funds (where we have decision-making control and data) by year-end 2029 from a 2019 baseline5
90%
reduction in Scope 1 and 2 CHG emissions by year-end 2030 (from a 2019 baseline)
Long-term ambition
(by 2040):
Net Zero
company6
10.2 MB
1 We published our first Climate Transition Plan in March 2022. At the time, it outlined our pathway to Net Zero 2040 and provided information on our climate ambitions and how we could address climate risks and opportunities.
2 This iteration of our Transition Plan was informed by informed by the general, sector-specific, and additional guidance provided by the UK Transition Plan Taskforce (TPT), as well as the Taskforce for Climate-related Financial Disclosures' (TCFD) recommendations, the Glasgow Financial Alliance for Net Zero (GFANZ) principles, and the Institutional Investors Group on Climate Change (IIGCC) principles.
3 This is not a complete list of our ambitions. The contents of this page should be read in conjunction with Aviva plc’s Reporting Criteria 2024. More information can be obtained by visiting our Sustainability Reporting & Resources Hub.
4 The scope of this ambition covers both our general insurance claims supply chain and our non-claims supply chain.
5 In scope are Scope 1 and 2 economic carbon intensity (ECI) for in-scope equity, corporate bonds and loans, infrastructure, and real estate assets held in shareholder, with-profit and policyholder funds where we have decision-making control and data across UK, Ireland, Canada, and India. Aviva is deemed to have investment decision-making control when they are responsible for defining the investment mandate – setting the investment objective, guidelines and risk appetites; choice of benchmark to meet customer and shareholder outcomes; and manager selection. This does not include external fund links made available on platforms, consultant instructed scheme blends, or external client mandates
6 Our ambition covers all parts of Aviva’s business including investments (Scope 3 category 15), insurance underwriting (Scope 3 category 15), insurance claims supply chain (Scope 3 category 11), Aviva’s operations and supply chain (Scope 1 and 2 and Scope 3 categories 1-14)