Aegon commits to group-wide net-zero emissions objective by 2050

Written by Adam Cadle

02/11/2021

Aegon has committed to transition its €156bn general account investment portfolio to net-zero greenhouse gas emissions by 2050.

To ensure progress towards this commitment, Aegon has set a clear medium-term target. By 2025, it aims to reduce by 25% the weighted average carbon intensity of its approximately €55bn corporate fixed income and listed equity general account assets where it has control. Aegon will set additional targets at five-year intervals for the period after 2025 until 2050.

Furthermore, Aegon said it will regularly engage with those companies in its global investment portfolio that are the most carbon intensive in order to drive real-world reductions in greenhouse gas emissions. Aegon will also regularly update its group-wide responsible investment exclusion criteria to reflect the latest scientific findings on climate change.

"Climate change is one of the most urgent environmental and social issues of our time, and Aegon is committed to helping transition to a net-zero carbon economy," said Lard Friese, CEO of Aegon.

"With today’s announcements, Aegon is embarking on a journey to transition its investment portfolio to net-zero emissions by 2050. To live up to this commitment, we have set a first medium-term target, underpinned by concrete action plans. I am convinced that by building a sustainable company, we can create lasting value for all our stakeholders."

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