December 13, 2022 (London, UK) - To read this press release in full, click here.
- Aviva calls for clarity on the financial sector’s role in meeting the goals and targets set by the Global Biodiversity Framework (GBF), expected to be agreed in Montreal at COP15;
- Private financial flows must be aligned with the aims of the GBF and this should be implemented as soon as possible. Additionally, Aviva calls on the financial sector to sign up to the Commitment on Eliminating Commodity-Driven Deforestation;
- Approximately a quarter of Aviva’s corporate holdings1 have exposure to deforestation risk. Over half of these are financial institutions which are exposed via the companies they finance; the other half are exposed as a result of their supply chains. Aviva will be engaging with a number of banks and companies as part of the Financial Sector Deforestation Action initiative (FSDA).
The GBF is expected to set out the plan to transform society’s relationship with biodiversity and ensure that, by 2050, the shared vision of living sustainably with nature is fulfilled.
1 Aviva’s corporate holdings cover equity, multi-assets and credit asset classes.