Aviva Investors has announced that it has invested or financed £1.4 billion in sustainable infrastructure, claiming that it is making significant progress toward its net zero targets for its Real Assets division.
This amount has been invested directly or indirectly in low-carbon and renewable energy infrastructure and buildings, representing a 56 percent increase over the £2.5 billion target set for 2025.
One of the five targets set out by the asset manager for its £47 billion Real Assets business by 2025 as part of its net-zero transition pathway has already been met this year.
It announced that it had originated £1.04 billion in climate-focused real estate loans, exceeding its £1 billion target for 2025.
In addition, the company provided updates on its progress toward the other goals.
It stated that its total renewable energy capacity had increased to 1.1 gigawatts (GW). This represents a 48 percent improvement on the 1.5GW target set for 2025.
Aviva Investors has also launched its Climate Transition Real Assets Fund, which aims to fulfill its promise to launch new pooled strategies in line with Article 8 of the Sustainable Finance Disclosures Regulation (SFDR) framework.
Finally, Aviva Investors has achieved a 25% reduction in carbon intensity, compared to a target of 30% by 2025, and a 6% reduction in energy intensity for direct investments, compared to a target of 10%.
"Net zero targets must move on from being pledges to attract investor capital and instead be grounded in action if the real assets sector is to fulfil its potential in tackling the climate crisis," said Daniel McHugh, CIO of Real Assets at Aviva Investors.
"The five interim goals of our Pathway are arguably the most important aspect of our commitment to net zero," he continued. "They provide proof-points against which our progress can be measured and are designed to give clients confidence in the investments we make on their behalf, and their impact in supporting the transition towards a low carbon future."
Aviva Investors announced last year that it was on track to achieve net-zero emissions across its entire Real Assets platform by 2040.
By fLEXI tEAM