02/07/2022

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Aviva Canada publishes inaugural sustainability report

Aviva Canada publishes inaugural sustainability report
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Aviva Canada publishes inaugural sustainability report&#13

Ahead of mandatory local climate disclosure specifications in 2024, Aviva Canada has issued its inaugural yearly sustainability report, which appears to be like back at the insurer’s environmental and sustainability metrics for 2021.

The report contains Aviva’s reaction to the recommendations from the Process Power on Local climate-Connected Fiscal Disclosures (TCFD) and the once-a-year General public Accountability Statement. It discloses three metrics: weighted typical carbon depth of credit and equities expense in environmentally friendly property and true weather conditions-related losses vs. expected losses. A release pointed out that the 2021 metrics have been certain by PricewaterhouseCoopers LLP to a “realistic” amount assurance.

Highlights of the sustainability report contain:

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  • Aviva Canada reached a % reduction in weighted typical carbon intensity in 2021 in excess of the former 12 months
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  • The insurance company invested above $100 million in green property, exceeding the 2021 target
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  • It launched EcoClaims – a pilot statements management software – in the wake of the November 21 BC flooding the initiative noticed the insurance provider assist in the sorting of waste from claims to recycle components when doable and keep a donation stream to send out recycled resources to charities or animal shelters that could use them, among the other issues
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  • Aviva Canada also invested above $2 million in WWF-Canada’s Character and Local climate Grant Plan to fight biodiversity reduction and weather change
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  • It became the 1st key economic solutions firm in Canada to obtain gender equality (50/50 male-female split) for VP and above
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“Aviva Canada’s sustainability ambition is rooted in our objective, to be with you currently for a far better tomorrow,” commented Aviva Canada CEO Jason Storah. “We fully grasp that we have a primary part to engage in in encouraging Canadians transition to a low carbon financial state and we are bringing our prospects, our folks, and our communities on that journey with us. Because saying our web-zero 2040 system, we have created great development performing on the local weather disaster, constructing stronger, a lot more resilient communities, and embedding sustainability in just about every component of our enterprise.”

In March, Storah beforehand explained to Insurance policy Small business that Aviva Canada has “the most bold weather targets of any insurance provider in Canada,” sharing that the corporation aims to attain net zero carbon emissions from its individual operations and offer chain by 2030, and full net zero emissions throughout the overall organization by 2040.

Read through more: Aviva Canada CEO: “We have the most bold local climate targets of any insurer in Canada”

“I’m proud of what we have accomplished in the previous year, but am impatient for the broader enterprise local community, the insurance plan field, and all levels of governments to act with better transparency and urgency,” Storah ongoing. “Climate transform is an existential threat to the insurance market. It can be time for a lot more efficient collaboration. Weather action have to be a collective hard work. Only by performing in tandem will we be capable to speed up Canada’s transition to a lower-carbon future.”