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Aviva renews commitment to net zero: pledges $46m to rainforest restoration

Aviva, the United Kingdom's largest insurance company, is setting a remarkable example with its unwavering commitment to environmental preservation and sustainability. As the urgency to address global climatic issues and biodiversity loss intensifies, Aviva has emerged as a frontrunner, actively championing nature-centric initiatives and driving efforts toward achieving net-zero emissions.

Aviva renews commitment to net zero_pied flycatcher sitting on a tree branch_visual 1Pied flycatcher - migrant bird, thrives in the insect-rich conditions UK’s temperate rainforests offer.

In recent developments, Aviva has taken significant strides in protecting the planet. It announced a $46m pledge to restore the UK’s temperate rainforests through a project in collaboration with The Wildlife Trusts.

Through partnerships and collaborations, the company is actively combating deforestation and biodiversity loss. Aviva has signed a pledge with 29 global investors, vowing to eliminate deforestation caused by agricultural commodities from its portfolio by 2025. The company has also strengthened its voting policy and published a comprehensive Biodiversity Policy, outlining its commitment to reversing biodiversity loss by 2030.

Read more: Voluntary carbon markets to grow fivefold by 2030 - Shell

Aviva's net-zero strategy is at the forefront of its environmental agenda. With a target of achieving net-zero emissions by 2040, the company is implementing a multi-faceted plan to transition to a low-carbon economy. Working closely with the insurance industry, Aviva is developing innovative methodologies and engaging with clients to create and implement robust transition plans. The company also invests in and supports decarbonisation initiatives through its financial activities.

To fulfil its net-zero ambition, Aviva is making substantial investments in nature-based solutions and carbon removal. By 2030, Aviva aims to fund $123 million toward nature-based carbon removal projects. Collaborating with renowned conservation groups and charities in the UK, Ireland, and Canada, the company's focus lies on carbon removal and supporting biodiversity and habitat conservation wherever possible.

Read more: 10 Vital ecosystem services: sustaining life on Earth

Aviva regularly publishes reports to showcase its progress and its commitment to transparency and accountability. These reports include the Biodiversity Report, Sustainability Report, and Responsible Investment Review. Additionally, Aviva plans to publish a biodiversity impact assessment across its investment and underwriting portfolios.

Aviva's dedication extends beyond its own operations. The company actively encourages other organisations to adopt sustainable practices through advocacy and engagement. By committing to the Finance for Biodiversity Pledge and engaging with various industries, Aviva aims to drive positive change on a broader scale.

Aviva's holistic approach to environmental responsibility and its comprehensive net-zero strategy have gained global recognition. Such efforts exemplify the transformative power of businesses in protecting biodiversity and fostering a sustainable future for generations to come.

Global investment aimed at net-zero and sustainability strategies become increasingly popular as more companies search for ways to transition towards a low-carbon future. Aviva’s commitment evidences the global trend of carbon and biodiversity investment and the strong growth of these markets. At DGB Group, we are committed to supporting businesses to achieve their net-zero targets. Through our impactful carbon and biodiversity projects, we collaborate with various stakeholders to achieve sustainable and long-lasting results, making the planet a better place for all. Let us support your business’ journey towards net zero

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