Leading insurance company Aviva Canada is taking bold action to improve sustainability and help address climate change.
Extreme weather events are on the rise worldwide, and everyone is feeling its effects. As a leading property and casualty insurer, Aviva Canada sees the devastating impact of climate change on its customers and communities firsthand. As a result, the company is tackling climate change and biodiversity hand in hand as part of its sustainability ambition.
Creating a better tomorrow
Aviva Canada provides home, automobile, lifestyle, and business insurance to 2.4 million customers. The insurer is taking bold actions to protect customers, people, and businesses from the effects of climate change.
“Tackling the climate crisis, addressing systemic issues like disparities in diversity and inclusion, and investing in Canada’s society and economy isn’t just the right thing to do — it’s essential for future success,” says Jason Storah, CEO of Aviva Canada. “We’re contributing to a modern, fair, and agile society that’s determined to create a better tomorrow for future generations.”
Aviva Canada’s 2021 Sustainability Report summarizes the company’s sustainability and Environmental, Social, and Governance (ESG) performance for the fiscal year ending Dec. 31, 2021. In addition, the report outlines the company’s ambitious climate action plan and its wide-ranging initiatives to build stronger communities and embed sustainability into every aspect of its business.
Embracing leadership and accountability
Preventing the most catastrophic impacts of climate change will take real action. “At Aviva, we’ve set clear targets that are the most ambitious of any insurer in the world,” says Storah.
Building on its sustainability work over the last three decades, Aviva Canada aims to become a net-zero company by 2040, to achieve a 25 percent reduction in carbon intensity of assets by 2025 and 60 percent by 2030, and to have net-zero operations and supply chain by 2030.
Aviva’s initiatives to date include:
Decarbonizing its investment portfolio.
Insuring a net-zero future. In personal insurance, this includes offering a green vehicle discount, and discounted coverage for customers who choose solar panels and wind turbines. Aviva also offers several commercial insurance solutions that support the carbon transition for businesses.
Embedding climate-related risk in its strategy.
Some of Aviva Canada’s 2021’s milestones include:
Launching a first-of-its-kind sustainable claims management program following the BC floods in 2021.
Over $100 million in green assets invested.
A $2 million partnership with WWF-Canada in its Nature and Climate Grant Program.
“We’ll engage, not exclude when supporting partners and businesses transitioning toward a low-carbon economy,” says Storah. “We want to work with like-minded companies, using our size and scale to bring our partners, customers, businesses, and others along the journey.”
To further bring its commitment to life, on June 7, more than 1,100 Aviva employees planted trees, mulched, or picked up litter in their local communities across Canada.
“This was a great way for everyone to get together and make an impact collectively,” says Storah. “Change doesn’t happen overnight, and there’s still so much more to do. Our annual Aviva Climate Day will allow us to celebrate and elevate how we’ve made a difference through this important work in local communities where Aviva has a presence.”