Ageas accelerates the transition towards net-zero carbon emissions in its investment portfolio
December 01 2022 - 05:00AM
GlobeNewswire Inc.
Ageas accelerates the transition towards net-zero carbon emissions
in its investment portfolio
Ageas accelerates the transition towards
net-zero carbon emissions in its investment portfolio
Ageas’s strategic plan, Impact24, includes a
strong focus on sustainable growth. As part of this plan, Ageas has
committed to invest at least EUR 10 billion in assets making a
positive contribution towards a more sustainable world by 2024 and
to achieve net-zero carbon emissions in its investment portfolio by
2050 at the latest. To reach this long-term target, and as 2050 is
still relatively far away, Ageas has defined an intermediate
trajectory to reach its carbon reduction objectives. To support its
ambition, Ageas is proud to announce that it has joined the
UN-convened Net Zero Asset Owner Alliance (NZAOA), a member-led
initiative of insurers, pension funds and foundations, committed to
transitioning their investment portfolios to net-zero greenhouse
gas (GHG) emissions by 2050. Ageas is the first Belgian asset owner
to join the Alliance.
Concerning the carbon intensity of its
investment portfolio, Ageas sets as first intermediate target a 50%
reduction of the GHG emissions by 2030 of its equities, corporate
bonds, real estate and infrastructure portfolios held by its
European consolidated entities. This objective is in line with the
requirements of the NZAOA. As a result, Ageas moves from a long
term 2050 commitment to a much closer 2030 intermediate target. The
progress will be calculated against the levels of 2021.
Moreover, Ageas will continue to engage directly
or indirectly, through its external asset managers and/or
collective engagement initiatives, with companies and will focus on
the 20 highest GHG detractors in its portfolio encouraging them to
take action to meet the net-zero ambition of the European
Commission.
Also, as part of this commitment, Ageas will
adopt a very clear and transparent methodology to drive the Group
and other companies towards being more sustainable faster.
Finally, as set in its Impact24 strategy, Ageas
ambitions to invest EUR 10 billion in assets making a positive
contribution - social and environmental - towards a more
sustainable world. Among these sustainable investments Ageas aims
to invest specifically at least EUR 5 billion in climate
related investments by 2024.
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“Contributing to a more sustainable world is at the heart of Ageas
strategic plan, Impact24. As a leading insurer and a responsible
investor, we commit to decarbonise our investment portfolio by 2050
at the latest and we will invest in climate solutions. By joining
the Net Zero Asset Owner Alliance we confirm our contribution to
the global effort to mitigate climate change and to the achievement
of the Paris Agreement. By joining the Alliance we strengthen our
long term 2050 net zero commitment with a much closer 2030
decarbonisation target of minus 50%. We are confident that thanks
to our continuous efforts to implement a responsible approach in
our investments, we are in a good position to meet the requirements
of the Alliance and to achieve our first intermediary targets and
as such to contribute to the Alliance’s ambition to limit the
global temperature increase to maximum 1.5°Celsius” Hans De Cuyper,
CEO Ageas |
Ageas is a listed international
insurance Group with a heritage spanning almost 200 years. It
offers Retail and Business customers Life and Non-Life insurance
products designed to suit their specific needs, today and tomorrow.
As one of Europe's larger insurance companies, Ageas concentrates
its activities in Europe and Asia, which together make up the major
part of the global insurance market. It operates successful
insurance businesses in Belgium, the UK, France, Portugal, Turkey,
China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia,
Singapore, and the Philippines through a combination of wholly
owned subsidiaries and long-term partnerships with strong financial
institutions and key distributors. Ageas ranks among the market
leaders in the countries in which it operates. It represents a
staff force of about 40,000 people and reported annual inflows
close to EUR 40 billion in 2021 (all figures at 100%).
- Pdf version of the press release
Ageas SA NV (EU:AGS)
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