Aviva Plc | Climate-related Financial Disclosures
How other organisations have declared their voting intentions
| Organisation name | Declared voting intentions | Rationale |
|---|---|---|
| Ircantec | Against | Aviva presents a structured climate strategy, driven by an ambition to achieve carbon neutrality by 2040 and a progress on the carbon intensity of its portfolios. These advances reflect a growing awareness of climate issues and an increasing commitment to the energy transition. However, the stated ambition remains incomplete compared to the standards expected of a leading financial player. The scope of emissions coverage is still partial, particularly regarding Scope 3 emissions from invested companies and certain major asset classes, such as sovereign bonds. This limited coverage does not allow for a comprehensive assessment of the group's real carbon footprint. Furthermore, despite the reduction in carbon intensity, financed emissions continue to rise in absolute terms, which weakens the credibility of the decarbonization trajectory. The targets are primarily set for 2030, without a sufficiently clear long-term vision, and largely rely on intensity-based indicators that may mask an increase in actual emissions. Alignment with a trajectory compatible with the Paris Agreement, particularly the goal of limiting warming to 1.5°C, also remains uncertain, especially following the withdrawal of SBTi validation. Commitments on fossil fuels also appear insufficiently ambitious, in the absence of a clear stance on halting new investments in oil and gas. Finally, while the shareholder engagement approach is structured, its concrete impact remains difficult to assess due to a lack of clear outcome indicators and only partial alignment of governance and managerial incentives with climate objectives. As a result, despite notable progress, the presented climate plan does not fully meet the requirements for credibility, comprehensiveness, and long-term alignment. These factors lead to opposition to Aviva's proposed Say on Climate. |
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