FinanceMap scores this financial institution in the following areas. Please navigate to the relevant tab for in-depth analysis
FinanceMap assesses these portfolios for this financial institution. Please navigate to the relevant tab for in-depth analysis.
Fossil fuel companies are those whose primary sector falls within coal mining and services, or up-, mid-, and downstream oil and gas sectors. Green companies are defined as companies having over 75% revenue deriving from Substantial Contribution to Mitigation activities under the EU Taxonomy.
Portion of AUM Assessed: $79.0B
| Holding Name | Contribution to Sector Production |
|---|---|
| Nextera Energy Inc | 10.6% |
| Enel SpA | 10.6% |
| SSE PLC | 10.0% |
| National Grid PLC | 7.1% |
| Iberdrola SA | 6.5% |
| Centrais Eletricas Brasileiras SA - Eletrobras | 4.2% |
| Korea Electric Power Corp | 3.4% |
| Engie SA | 3.3% |
| Dominion Energy Inc | 3.1% |
| NRG Energy Inc | 3.0% |
| Holding Name | Contribution to Sector Production |
|---|---|
| Suzuki Motor Corp | 13.7% |
| Toyota Motor Corp | 13.0% |
| Hyundai Motor Co | 11.8% |
| BYD Co Ltd | 10.1% |
| Kia Corp | 7.5% |
| General Motors Co | 7.4% |
| Honda Motor Co Ltd | 5.2% |
| Stellantis NV | 4.5% |
| Nissan Motor Co Ltd | 3.6% |
| Bayerische Motoren Werke AG | 3.3% |
| Holding Name | Contribution to Sector Production |
|---|---|
| Glencore PLC | 67.9% |
| Coal India Ltd | 16.1% |
| Yankuang Energy Group Co Ltd | 7.4% |
| China Coal Energy Co Ltd | 4.5% |
| Alamtri Resources Indonesia Tbk PT | 1.6% |
| China Shenhua Energy Co Ltd | 1.1% |
| Inner Mongolia Yitai Coal Co Ltd | 0.7% |
| United Tractors Tbk PT | 0.4% |
| Adani Enterprises Ltd | 0.2% |
| Exxaro Resources Ltd | <0.1% |
| Holding Name | Contribution to Sector Production |
|---|---|
| Shell PLC | 29.7% |
| BP PLC | 27.1% |
| PetroChina Co Ltd | 8.3% |
| Petroleo Brasileiro SA Petrobras | 5.4% |
| Exxon Mobil Corp | 4.0% |
| Chevron Corp | 2.9% |
| TotalEnergies SE | 2.4% |
| Coterra Energy Inc | 1.5% |
| Ovintiv Inc | 1.5% |
| NK Lukoil PAO | 1.4% |
Aviva Investors appears to be a strong corporate engager on climate. The asset manager has outlined its climate engagement priorities for the coming year, which includes transitioning to a low-carbon economy. It appears to use a structure for monitoring and tracking engagements, although details on the milestones used are limited. Additionally, the asset manager utilizes a climate engagement escalation programme (CEEP) aiming to drive companies in various sectors to adopt net-zero 2050 targets and transition plans. It assesses company progress using this framework on a bi-annual basis, which determines candidacy for further escalation.
Aviva is a highly active engager on climate, working to drive companies to align with the Paris Agreement. Starting in 2021 it has been engaging with several significant carbon emitters from sectors such as oil and gas, mining, steel, and utilities to strengthen their climate commitments and performance. In addition, as part of its CEEP initiative it has conducted over 120 engagements and secured 94 climate wins. The asset manager does appear to engage on climate lobbying as a part of CEEP and has engaged with Rio Tinto, pressing for more robust action to address industry associations lobbying against climate action. Additionally, Aviva is an active collaborator with CA100+, participating and leading engagements with Hon Hai and BP through the initiative.
Aviva has clearly described its stewardship governance structure and processes and appears to have in depth oversight and review of its stewardship activities. The asset manager provides a number of named engagement case studies along with topics and outcomes. It discloses all proxy voting data, and also shares voting rationale. Aviva has filed shareholder resolutions on climate in the past but has not provided any recent examples in its latest reporting.
Insightia data suggests that Aviva has been increasingly supportive of AGM resolutions InfluenceMap categorizes as in line with the Paris Agreement, supporting 68.6% in 2019, 86.4% in 2020. 95.2% in 2021, and 93.5% in 2022.
FinanceMap's methodology to measure the engagement process on climate was developed in consultation with several of the world's leading asset managers and uses key aspects of the UK Financial Reporting Council's 2020 Stewardship Code . The Stewardship Code was chosen to benchmark engagement quality as it provides an ambitious framework and detailed definitions of what constitutes effective engagement. FinanceMap defines the term ‘engagement’ as referring to all investor actions undertaken to influence the management strategy of the companies they own including private communications with corporate management and appointed advisors; questions at AGMs/other company meetings; comments on the company in the media; escalation and the shareholder resolution process (filing, voting behavior). FinanceMap’s methodology breaks the engagement process down into a set of sub-activities and looks for evidence associated with these across publicly available data sources.
Climate-relevance categorization of shareholder resolutions is based on the IPCC’s Special Report on 1.5°C and its concluded need for “rapid and far-reaching transitions in land, energy, industry, buildings, transport, and cities.” FinanceMap scored voting on any resolution where the intent and likely outcome is consistent with this IPCC stated need. The voting data is drawn from asset managers' disclosures to the US Security Exchange Commission (SEC), asset manager websites (including third-party websites they link to), directly from the asset managers, and through specialist voting data provider Insightia. The full list of resolutions assessed is available here.
The following table outlines the key queries and data sources, which FinanceMap uses to assess asset managers' corporate engagement programs. Every evidence piece is assessed on a five-point scale of -2,-1,0,1,2 or NA (not applicable)/NS (not scored). All queries, data sources, and evidence pieces are weighted against one another in a matrix system to arrive at a final top-level score. Clicking on specific cells will load the underlying evidence and information on how it has been assessed.
Climate Lobbying Overview: Aviva is a leader in advocating for regulation on sustainable finance, with subsidiary Aviva Investors contributing a significant proportion of its policy engagement.
Top-Line Messaging on Climate-Related Financial Policy: In a 2023 consultation response Aviva advocated for systemic reforms to deliver a sustainable financial system, and supported engagement with policymakers to tackle systemic climate risks and market failures. Aviva supported urgent action to limit global temperature rise to 1.5C in its 2022 Responsible Investment Review. Aviva has consistently advocated for policymakers to increase the ambition of climate-related finance policy to achieve net zero goals in the EU, UK and globally. In its 2022 Responsible Investment Review Aviva it pressed for stronger international action on sustainable finance, and in a 2023 consultation response, it pushed for the UK government to produce a detailed roadmap on the future of the sustainable finance framework. In addition, in a 2022 joint paper, Aviva supported introducing alignment with net-zero by 2050 as a statutory secondary objective for UK financial regulators.
Position on Regulated Corporate Climate Disclosure: Aviva has strongly supported policy to mandate climate disclosure, often advocating for increased ambition. In 2022, Aviva supported the SEC’s proposed climate disclosure rule in an investor letter, and advocated for an increase in ambition of disclosure regulation in the UK in comments to the environmental audit committee. Additionally, Aviva has advocated for mandatory net-zero transition plans in its 2023 Climate-Related Disclosures Report and in 2023 comments to the Environmental Audit Committee, with Aviva's CEO Amanda Blanc co-chairing the UK Transition Plan Taskforce (TPT).
Position on Climate Standards/Labels/Benchmarks: Aviva supported the UK FCA’s proposed fund labels, including the expansion of labeling and anti-greenwashing provisions to overseas funds in a 2023 consultation response. However, while it supported limitations on the use of climate terms in fund names, it suggested narrowing the prohibited list.
Position on Incorporating Climate Factors Into Investor Duties: In comments to the FCA in 2023, Aviva advocated for the extension of the UK Sustainability Disclosure Requirements regulation to institutional investors, and supported consumer-facing disclosures.
Position on Incorporating Climate Factors Into Risk Management/Prudential Regulation: Avivaappears strongly supportive of increased ambition on climate-related risk regulation. In its 2022 Climate Transition Plan, Aviva advocated for central banks to be given net-zero mandates, and for global coordination on climate stress testing. Furthermore, in response to the UK government’s 2022 Call for Evidence on the update to the Green Finance Strategy, Aviva advocated for greater supervisory and macro-prudential powers for regulators to tackle climate-related risk in the financial system.
Position on Real Economy Climate Policy: Aviva has been broadly supportive of real economy climate policy, supporting policy action on carbon pricing and GHG emissions targets on its corporate website. It has also supported implementation of emission standards aligned with the Global Methane Pledge as a signatory to the 2024 Global Investor Statement.
Position on Energy, Industry, and Land Transition: Aviva has advocated for the phase-out of fossil fuel subsidies in its 2022 Climate Transition Plan, and as a signatory to the 2024 Global Investor Statement. It has also advocated for ambitious policy to enable to delivery of the 2030 phase-out target for ICE vehicles in its 2023 Climate Policy White Paper.
Industry Association Governance: Aviva has disclosed a partial list of its industry association memberships, however, it appears to exclude three industry associations that are actively engaged on climate policy, including UK Finance, ISDA, and SIFMA. Aviva's disclosure includes a broad commitment to align memberships with environmental commitments. However, it has not disclosed an account of its industry associations' positions and engagement activities, and as a result has excluded instances of engagement such as the ABI's consultation response on zero emission vehicle design in the UK, or opposition to the inclusion of a climate risk model in default pensions in comments to the FCA in 2022.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q1 2025.
InfluenceMap’s methodology for assessing lobbying on climate finance policy closely follows InfluenceMap’s established methodology on climate policy engagement, which is used extensively by investors, including via the Climate Action 100+ investor engagement process. Our full methodology can be found here.
Under our lobbying assessment, InfluenceMap considers engagement on all financial policies which intersect with climate issues, as well as “real economy” climate change policies.
The analysis takes into account both the engagement of the financial institution and the activities of industry associations they hold membership of. InfluenceMap’s methodology covers seven publicly available data sources, searching for evidence of engagement and corporate positioning since 2017. To determine the policy issues within the scope of the analysis, InfluenceMap breaks down policy engagement into a series of subcategories, or 'queries'. These are designed to cover high-level issues relating to the importance of sustainable finance, as well as more specific areas of sustainable finance policymaking. InfluenceMap’s research process searches for evidence of an organization's engagement with each policy issue, across each of the data sources.
The following table outlines the key queries and data sources, which InfluenceMap uses to assess financial institutions' policy engagement. Every evidence piece is assessed on a five-point scale of -2,-1,0,1,2 or NA (not applicable)/NS (not scored). All queries, data sources, and evidence pieces are weighted against one another in a matrix system to arrive at a final top-level score. Clicking on specific cells will load the underlying evidence and information on how it has been assessed.
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party.
In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
