Aegon's Commitment to Net-Zero Emissions by 2030
Aegon has taken a significant step forward in its sustainability journey by announcing updated net-zero investment targets for 2030. Building upon existing commitments, these new goals enhance Aegon's strategy to transform its general account investment portfolio, which is valued at approximately EUR 70 billion, to achieve net-zero greenhouse gas emissions by 2050. This initiative reflects Aegon's dedication to supporting the transition to a more sustainable, net-zero economy.
Aligning with Global Standards
The newly established targets are in line with guidelines provided by the United Nations-convened Net-Zero Asset Owner Alliance (NZAOA), reinforcing Aegon's proactive engagement in setting benchmarks that meet scientific and international agreements for climate accountability. By adopting a comprehensive framework, Aegon ensures its goals are consistent with the Paris Agreement, demonstrating a commitment to urgent climate action.
Aegon's Key Targets for 2030
By 2030, Aegon has outlined several ambitious goals designed to significantly reduce its carbon footprint:
- Aim for a 50% reduction in the weighted average carbon intensity of its corporate fixed income and publicly listed equity assets, using 2019 as a baseline.
- Target a 42% decrease in the scope 1 and 2 carbon intensity of its directly managed real estate investments, also measured against the 2019 baseline.
- Allocate an additional USD 1 billion, supplementing an earlier commitment of USD 2.5 billion, to initiatives focused on mitigating climate change and adapting to its effects.
- Engage continuously with at least the top 20 corporate carbon emitters within Aegon’s investment portfolio to drive accountability and encourage sustainability efforts.
Future Commitments Beyond 2030
Aegon demonstrates a long-term vision by stating it will update its targets in five-year increments, aligning with the NZAOA's established schedule. This forward-thinking approach illustrates Aegon's dedication to ongoing environmental stewardship and accountability.
Building a Responsible Investment Framework
Aegon's focus goes beyond mere compliance; it aims to create a framework that integrates sustainability within all strategic aspects of its operations. This includes adjusting investment strategies to reflect environmental considerations while still providing value to stakeholders.
About Aegon’s Business Model
Aegon operates as an international financial services holding company, striving to build leading businesses that provide investment, protection, and retirement solutions to customers globally. With fully owned entities in the United States and the United Kingdom, Aegon leverages international partnerships and joint ventures to optimize local expertise in various regional markets, including Spain, Portugal, China, and Brazil. Furthermore, Aegon's strategic participation in the market provides access to value creation through its insurance subsidiaries and asset management partnerships.
Contact Information
For Media Inquiries:
Carolien van der Giessen
Phone: +31(0) 61 195 33 67
Email: Carolien.vandergiessen@aegon.com
For Investor Relations:
Yves Cormier
Phone: +31(0) 70 344 8028
Email: yves.cormier@aegon.com
Frequently Asked Questions
What are Aegon's new net-zero targets?
Aegon has set new targets to achieve net-zero emissions by 2050, including a 50% reduction in carbon intensity for its corporate investments by 2030.
How does Aegon plan to meet its targets?
The company intends to invest an additional USD 1 billion in initiatives aimed at climate change mitigation and engage with major carbon emitters to drive sustainability.
Where is Aegon headquartered?
Aegon is headquartered in The Hague, Netherlands, and is also listed on Euronext Amsterdam and the New York Stock Exchange.
What other investments does Aegon make?
Aegon has a diverse portfolio, including operations in North America and Europe, and engages in joint ventures to capitalize on local expertise in markets.
How does Aegon's commitment align with global standards?
Aegon's targets are aligned with the guidelines from the United Nations Net-Zero Asset Owner Alliance, ensuring they meet international environmental standards.
