Aviva Canada has released its 2022 sustainability and climate-related financial disclosure (TCFD). This marks the second year that the company has voluntarily disclosed its climate risks and exposures.
The company used three Canadian metrics to measure its progress: weighted average carbon intensity of credits and equities, investment in sustainable assets, and actual weather-related losses versus expected losses.
The 2022 sustainability and TCFD reports also highlighted a range of achievements and initiatives:
Investment in Sustainable Assets: The company exceeded its 2023 target by investing $449 million in sustainable assets, affirming its commitment to support environmentally responsible projects and initiatives.
Renewable Electricity Milestone: Aviva Canada achieved 100% renewable electricity for all its offices, two years ahead of its 2025 target.
Supporting Renewable Energy: Aviva Canada wrote six new renewable energy accounts, totaling approximately $7 million. It also established a renewable energy working group encompassing underwriting, client relationship management, and risk management.
Charged for Change Program: The company launched the Charged for Change initiative, investing $3 million in electric vehicle charging infrastructure for underserved communities across Canada.
Inaugural Climate Day: Aviva Canada organized its inaugural Climate Day, where over 1,100 employees came together for collective action and volunteering efforts, leading to the planting of 1,463 trees.