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Aviva Investors

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Company information
Aviva Investors

Information received directly from Fund Manager

Last amended date: Jan 2026

Assets under management
Total Screened Themed SRI Assets:
£2226.00m (as at: Jun 2025)
Total Responsible Ownership Assets:
£243631.00m (as at: Jun 2025)
Total Assets Under Management:
£245858.00m (as at: Jun 2025)
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Fund Management Company Information

About The Business
Responsible ownership / stewardship policy or strategy (AFM companywide)

Finds fund / asset management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.

ESG / SRI engagement (AFM companywide)

Find fund / asset management companies that actively encourage higher 'environmental, social and governance' and / or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.

Vote all* shares at AGMs / EGMs (AFM companywide)

Find fund / asset managers that vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' demonstrating their support for or disagreement with management policy. (*situations can legitimately, occasionally occur where voting proves impossible, but in principle all shares should be voted.)

Responsible ownership / ESG a key differentiator (AFM companywide)

Find fund / asset managers that consider responsible ownership and ESG to be a key differentiator for their business.

Senior management KPIs include environmental goals (AFM companywide)

The leadership team of this fund / asset manager have performance targets linked to environmental goals.

Responsible ownership policy for non SRI / sustainable options (AFM companywide)

Find options run by managers that apply Responsible ownership or 'Stewardship' policies to all or most of their investment assets. This means active involvement (e.g. voting, dialogue) with the companies across all or most funds, products and services.

Integrates ESG factors into all / most research (AFM companywide)

Find fund / asset management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.

In-house diversity improvement programme (AFM companywide)

Finds organisations / fund managers that have an in-house (company wide) diversity improvement programme - meaning that they are working to ensure that within their own businesses they employ people from diverse backgrounds - often typically focused on ethnicity and/or sex.

Diversity, equality & inclusion engagement policy (AFM companywide)

Find fund / asset management companies that encourage the companies they invest in to have strong diversity, race, gender and other equality policies across all assets held, not simply screened or themed SRI/ESG funds. (ie Asset Management company wide).

Collaborations & Affiliations
PRI signatory

Find fund / asset management companies that have signed up to the UN backed 'Principles of Responsible Investment'.

UKSIF member

Find fund / asset management companies that are members of UKSIF - the UK Sustainable Investment and Finance association

Climate Action 100+ or IIGCC member (under review)

Find fund / asset management companies that are members of these collaborative institutional investor led initiatives that aim to encourage companies to reduce carbon (and other greenhouse gas) emissions. This includes encouraging companies to transition to renewable energy, for example, by establishing 'net zero' plans. Please confirm with fund manager.

UN Net Zero Asset Owners / Managers Alliance member

Finds organisations / fund managers that are members of the UN Net Zero Asset Owners Alliance or the Net Zero Asset Managers Alliance. This is an important new initiative aimed at investors playing their part in helping to drive down carbon and other greenhouse gas emissions.

GFANZ member (AFM companywide)

Glasgow Financial Alliance for Net Zero member. This coalition was set up at COP26 (2021) to bring together and encourage collaboration between financial institutions that are committed to decarbonising the economy.

UN Net Zero Banking Alliance member (AFM companywide)

An industry led, UN convened group of banks that are committed to aligning their lending and investment portfolios to the achievement of net zero greenhouse gas emissions by 2050.

Investment Association (IA) member

Fund management entity is a member of the Investment Association https://www.theia.org/

Resources
In-house responsible ownership / voting expertise

Find fund / asset management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.

Employ specialist ESG / SRI / sustainability researchers

Find a fund / asset management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.

Use specialist ESG / SRI / sustainability research companies

Find fund / asset management companies that makes use of expert external research companies. This can help deliver specialist expertise and means resources are pooled with other investors.

ESG specialists on all investment desks (AFM companywide)

Finds organisations / fund managers that have one or more ESG/sustainability experts on all investment teams or 'desks' (all asset types)

Accreditations
PRI A+ rated (AFM companywide)

Finds organisations / fund managers that have an A+ PRI rating - meaning they are highly rated according to the 'Principles of Responsible Investment'

UK Stewardship Code signatory (AFM companywide)

Find fund / asset managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where managers are encouraged to behave like responsible, typically longer term 'company owners'.

Engagement Approach
Stewardship escalation policy

Escalation policies describe how a manager will proceed if stewardship / engagement activity is not successful in the short term.

Regularly lead collaborative ESG initiatives (AFM companywide)

Find fund / asset management companies that regularly initiate or run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.

Engaging on climate change issues

Fund / asset manager has stewardship /responsible ownership strategy that is focused on addressing climate change with investee assets.

Engaging with fossil fuel companies on climate change

Fund / asset manager has a stewardship /responsible ownership strategy that involves working with fossil fuel companies on climate change related issues. See fund manager website for details.

Engaging to reduce plastics pollution / waste

Fund / asset manager has stewardship /responsible ownership strategy with involves encouraging investee asset to reduce plastic waste and pollution.

Engaging to encourage responsible mining practices

Fund / asset manager has a stewardship / responsible ownership policy that means they are working to encourage more responsible mining practices - where environmental and social issues are properly dealt with by the companies they invest in.

Engaging on biodiversity / nature issues

The fund / asset manager has a responsible ownership / stewardship strategy that focuses on biodiversity and nature issues relating to the assets they invest the aim of which will be to reduce harm and or deliver improvement. Strategies vary. https://tnfd.global

Engaging to encourage a Just Transition

Fund / asset manager has a responsible ownership / stewardship strategy which means they are working to encourage the shift to more sustainable business practices in ways that respect and are sensitive to social issues and the impact change has on people effected by the changes that are taking place. https://www.transitionpathwayinitiative.org/ https://transitiontaskforce.net/

Engaging on human rights issues

Fund / asset manager has responsible ownership / stewardship strategy in place which aims to address human rights issues in investee companies (and potentially their suppliers) with the aim of raising standards

Engaging on labour / employment issues

Fund / asset manager has responsible ownership / stewardship strategy in place that aims to improve labour standards for the benefit of employees in investee companies (and potentially their suppliers)

Engaging on diversity, equality & / or inclusion issues

Fund / asset management company has a stewardship strategy in place which involves working to raise diversity, equality and inclusion standards across investee assets

Engaging to stop modern slavery

Fund / asset manager is working with the assets they hold to help stamp out modern slavery - where direct or indirect company employees are exploited for business benefits.

Engaging on governance issues

Fund / asset managers have stewardship strategies in place that focus on improving governance standards across investee assets

Engaging on mental health issues

Fund / asset manager has stewardship strategy in place which involves discussing mental health issues with investee companies - with the aim of raising standards

Engaging on responsible supply chain issues

Has a stewardship / responsible ownership strategy that encourages responsible supply chain - ie the managers will discuss environmental, social and governance issues with investee companies with the aim of raising standards

Engaging on the responsible use of AI

Working to address sustainability, ESG and related concerns around artificial intelligence.

Company Wide Exclusions
Nuclear exclusion policy (AFM companywide)

Fund / asset management company excludes assets with significant involvement in the nuclear industry - across all funds. Strategies vary.

Controversial weapons avoidance policy (AFM companywide)

Find fund / asset management companies (not funds) that avoid investment in 'controversial weapons' across all of their funds and other investment vehicles.

Tobacco avoidance policy (AFM companywide)

Find fund / asset management companies that avoid investment in tobacco (manufacturing) companies across all their assets.

Fossil fuel exclusion policy (AFM companywide)

Find fund / asset management companies that avoid investment in fossil fuel companies (e.g. coal, oil and gas) across all of their funds. (and/ or other assets.)

Climate & Net Zero Transition
Net Zero commitment (AFM companywide)

Fund / asset management organisations that have pledged to reduce their greenhouse gas emissions to ‘net zero’. Strategies vary - this area is changing rapidly.

Voting policy includes net zero targets (AFM companywide)

Fund / asset manager AGM / EGM voting strategy has processes in place that mean they will normally be expected to vote in a way that will encourage the transition to net zero greenhouse gas emissions.

Publish 'CEO owned' Climate Risk policy (AFM companywide)

Find fund / asset management companies that have published a Climate Risk policy or statement that is signed / owned by their Chief Executive.

Net Zero - have set a Net Zero target date (AFM companywide)

This fund / asset management company has set a date by which they plan to achieve net zero greenhouse gas / CO2e emissions.

Encourage carbon / greenhouse gas reduction (AFM companywide)

Find fund / asset management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.

Carbon offsetting - offset carbon as part of net zero plan (AFM companywide)

This fund / asset management company plans to achieve net zero greenhouse gas (CO2e) emissions with the help of a scheme that will lock away an amount of carbon that is equivalent to the company’s own emissions – so that the end result is ‘net zero’. Calculations and scope vary.

In-house carbon / GHG reduction policy (AFM companywide)

Find fund / asset management companies that are working to reduce their own (fund management company) carbon/greenhouse gas emissions.

Working towards a ‘Net Zero’ commitment (AFM companywide)

Finds organisations / fund management companies that are in the process of working out how to make a ‘net zero commitment’ - meaning that when that is finalised they will have started the process of reducing their total greenhouse gas emissions to 'zero'.

Committed to SBTi / Science Based Targets Initiative

See https://sciencebasedtargets.org/

Transparency
Full stewardship / responsible ownership policy information on company website

Find fund / asset management companies that publish information about their sustainable and responsible investment strategies on their company website.

Full stewardship / responsible ownership policy information available on request

Find fund / asset management companies that will supply information about their sustainable and responsible investment activity on request.

Publish responsible ownership / stewardship report (AFM companywide)

Find fund / asset management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.

Publish full voting record (AFM companywide)

Fund / asset management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.

Resources, Affiliations & Corporate Strategies:

In-house resources, roles and responsibilities

The Sustainable Investing function at Aviva Investors contains 40+ specialists within several teams that report to the Chief Sustainable Investing Officer to support the wide-ranging activity that underpins our sustainable investing approach. 

The Sustainability Strategy team leads and co-ordinates sustainability strategy, commercialisation of our sustainability capabilities at firm level and institutional governance matters.

The integration and stewardship team covers all asset classes, including credit, equities and multi-asset in Public Markets, and real estate, private debt and infrastructure in Private Markets. The team oversees the integration of environmental, social and governance (ESG) factors into the investment process across Aviva Investors’ spectrum of liquid and illiquid assets. This includes proprietary quantitative scoring, bottom-up ESG corporate research, top-down thematic research and outcome related analysis. The team is also responsible for conducting stewardship activities with our clients’ investments; exercising proxy voting rights and engaging with investee companies and borrowers to enhance long term shareholder value. Our ESG integration and stewardship teams work closely, and have multiple touch points, with our public and private investment functions. This helps to ensure close communication and collaboration between our investment professionals and sustainability analysts. 

Our Sustainable Investments team oversees Aviva Investors’ sustainable funds. The team develops and evolves strategic frameworks that respond to the changing landscape of sustainable markets, ensuring tangible outcomes for clients. It works to enhance the philosophy and processes underpinning existing sustainable funds, including the development of supporting data, quantitative research models, and the measurement and delivery of sustainability impacts. The team also supports sustainability research across asset classes and plays a key role in the development of new sustainability and impact strategies.

We also have a team that works closely with our parent company, Aviva, to deliver on the investment components of the Aviva Sustainability Ambitions. This relates to climate, nature and social objectives and involves defining sustainability objectives and action plans. In addition, the team is responsible for building investment solutions to deliver on sustainability objectives as well as developing net zero and nature investment analytics and tools and the solutions linked to these capabilities.

Aviva Investors works in collaboration with the Group Public Policy team to engage with national governments, regulators, standard-setters and international institutions to develop and advocate for policy measures that aim to create more sustainable capital markets.

 

External resources/responsibilities

As an active manager we source information that, alongside investment research, can support regulatory and client reporting activity. We source sustainability data from a variety of data providers, which we review regularly. We hold regular reviews with our largest third-party data provider to discuss how continuous improvements could be made to data or research outputs. Additionally, we hold ad-hoc meetings to discuss broader trends in sustainability.

Our market data team is an independent function that manages commercial relationships and renewals with our market data service providers. This function operates an hourglass model that sits between the business and suppliers. There are regular reviews in place to check that contracts are still meeting business needs, including service quality, availability and accuracy of data.

Our investment engineering team is responsible for several models and analytical dashboards, using data science techniques to derive greater value from vendors, NGOs and proprietary sourced datasets. Dashboards provide transparency into the construction of models. Integration of model outcomes into our portfolio management tool allow analysts and fund managers to take these insights in consideration.

Examples of data providers used:

Data vendors – Large-scale providers with multiple datasets and deep coverage

  • MSCI
  • LSEG
  • Trucost Analysis – S&P Global

Data specialists – Innovative and niche providers with specific scope and high quality

  • BoardEx
  • IBAT
  • Iceberg Data Lab
  • Auquan

NGOs - Specialist analysis, often not for profit; detailed datasets with issuer scope aligned to purpose

  • CDP
  • Climate Bonds Initiative

To support us in making voting decisions on thousands of meetings a year, we subscribe to research from third-party providers. Our main provider for voting services since October 2023 is Glass Lewis. We also subscribe to IVIS research (provided by the Investment Association) and MSCI. We use research for data analysis only and do not automatically follow research provider voting recommendations. We also receive recommendations from Glass Lewis based on our own policy, which we can override in consideration of other factors, including internal views, additional context provided in external research, and company explanations.

 

Briefly describe governance structure and responsibilities

The Aviva Investors boards, including Aviva Investors Holdings Limited, Aviva Investors UK Fund Services Limited, Aviva Investors Luxembourg (Lux.) Supervisory, Aviva Investors Lux. Management Company and Aviva Investors Lux. SICAV, receive regular reporting on key sustainability risk management metrics throughout the year. These include the results of sustainability risk assessments, do no significant harm indicators, climate value at risk and carbon intensity figures. These give the boards oversight of our approach to sustainability risk management and of how we are delivering on our clients’ sustainability preferences. In 2024, the Boards also received deep dives into climate metrics and the commercialisation of sustainability capabilities. We continue to develop and refine our approach to Board reporting to support effective oversight of our stewardship activities, including reviewing metrics to ensure they remain current and providing narrative and rationale to contextualise the sustainability information our boards receive.

The Aviva Investors Holdings Limited Board sets our overarching approach for sustainability. Responsibility for executive management of this approach is delegated to the CEO. The CEO is provided with advice and support from the executive team, which includes our chief sustainable investing officer.

The chief sustainable investing officer is responsible for proposing and implementing our sustainability strategy, oversight and execution policies and commitments at a firm and product level, and oversight of compliance with the relevant internal controls environment. Our sustainability strategy director chairs, on behalf of the chief sustainable investing officer, the sustainable investing business oversight committee, which includes representation from across the business. This committee ensures sustainable investing policies and procedures are aligned with firm-wide policies and procedures, and that the business is embedding client preferences in its approach to sustainability.

Working collaboratively with investment desks, the chief sustainable investing officer’s team is responsible for ESG integration and stewardship in public markets, ESG integration and stewardship in private markets, development of sustainable funds, development of sustainability analytics and tools, and sustainability strategy and governance.

Our analysts, regulatory development and client-facing teams monitor ongoing sustainability developments, with any revisions to policies subject to final approval by our policy approval group.

 

List related affiliations, memberships, and involvement with groups such as UNPRI / IIGCC / CA100+/CDP

The list below shows collaborative initiatives in which Aviva Investors participates as an active member, where we have participated in events or where we have indicated support for a statement as a signatory. More information regarding any of the initiatives or statements can be provided on request. This list is as of 31.12.2024 and can be found in our 2024 Annual Sustainability Review here: Policies and documents - Aviva Investors

Founding member

  • Collaborative Sovereign Engagement on Climate Change
  • Investor Action on Anti-Microbial Resistance
  • Investor Initiative on Hazardous Chemicals (IIHC)
  • Investor Initiative on Human Rights Data (II-HRD)
  • Sustainable Stock Exchange Initiative
  • UN Principles for Responsible Investment (UN PRI)
  • World Benchmarking Alliance (WBA)

Memberships and working groups

  • 30% Club UK Investor Group
  • Advance
  • Aldersgate Group
  • Asian Corporate Governance Association (ACGA)
  • Benchmarking Human Rights Performance
  • Bondholder Stewardship Working Group
  • Chatham House
  • Climate Engagement Canada (CEC)
  • FAIRR – Biodiversity, Waste and Pollution Programme
  • FAIRR – Protein Diversification
  • FRC UK Stewardship Code 2020
  • GC100 and Investor Group – Remuneration Reporting
  • Guidance
  • GFANZ Policy Workstream
  • Global Impact Investing Network (GIIN)
  • Global Institutional Governance Network (GIGN)
  • Good Work Coalition
  • Global Real Estate Sustainability Benchmark (GRESB)
  • Institutional Investors Group on Climate Change (IIGCC)
  • Investor Policy Dialogue on Deforestation (IPDD) Initiative
  • Labour Rights Investor Network (LRIN)
  • Nature Action 100
  • Net Zero Asset Managers Initiative (NZAM)
  • ShareAction – Chemical Working Group
  • Sovereign Debt Advisory Committee
  • The Investment Association
  • The Investment Association – Climate Change Working Group
  • The Investment Association – Remuneration and Share Schemes Committee
  • The Investment Association – Sustainability and Responsible Investment Committee
  • The Investor Forum
  • TheCityUK Sustainable Finance Forum
  • Transition Finance Market Review Expert Advisory Panel
  • UN Principles for Responsible Investment Sustainable Systems Investment Managers Reference Group
  • VBDO (Vereniging van Beleggers voor Duurzame Ontwikkeling) Investor Statement on Plastics

Signatories and collaborative events

  • Access to Medicine Foundation
  • Carbon Disclosure Project (CDP)
  • Climate Action 100+ (CA100)
  • Global Investor Statement to Governments on the Climate Crisis
  • Partnership for Carbon Accounting Financials (PCAF)
  • Planet Tracker Plastic Pollution Investor Statement
  • Rathbones Statement on Reporting Requirements re: Section 54 of UK Modern Slavery Act

About The Business
Responsible ownership / stewardship policy or strategy (AFM companywide)

Finds fund / asset management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.

ESG / SRI engagement (AFM companywide)

Find fund / asset management companies that actively encourage higher 'environmental, social and governance' and / or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.

Vote all* shares at AGMs / EGMs (AFM companywide)

Find fund / asset managers that vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' demonstrating their support for or disagreement with management policy. (*situations can legitimately, occasionally occur where voting proves impossible, but in principle all shares should be voted.)

Responsible ownership / ESG a key differentiator (AFM companywide)

Find fund / asset managers that consider responsible ownership and ESG to be a key differentiator for their business.

Senior management KPIs include environmental goals (AFM companywide)

The leadership team of this fund / asset manager have performance targets linked to environmental goals.

Responsible ownership policy for non SRI / sustainable options (AFM companywide)

Find options run by managers that apply Responsible ownership or 'Stewardship' policies to all or most of their investment assets. This means active involvement (e.g. voting, dialogue) with the companies across all or most funds, products and services.

Integrates ESG factors into all / most research (AFM companywide)

Find fund / asset management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.

In-house diversity improvement programme (AFM companywide)

Finds organisations / fund managers that have an in-house (company wide) diversity improvement programme - meaning that they are working to ensure that within their own businesses they employ people from diverse backgrounds - often typically focused on ethnicity and/or sex.

Diversity, equality & inclusion engagement policy (AFM companywide)

Find fund / asset management companies that encourage the companies they invest in to have strong diversity, race, gender and other equality policies across all assets held, not simply screened or themed SRI/ESG funds. (ie Asset Management company wide).

Collaborations & Affiliations
PRI signatory

Find fund / asset management companies that have signed up to the UN backed 'Principles of Responsible Investment'.

UKSIF member

Find fund / asset management companies that are members of UKSIF - the UK Sustainable Investment and Finance association

Climate Action 100+ or IIGCC member (under review)

Find fund / asset management companies that are members of these collaborative institutional investor led initiatives that aim to encourage companies to reduce carbon (and other greenhouse gas) emissions. This includes encouraging companies to transition to renewable energy, for example, by establishing 'net zero' plans. Please confirm with fund manager.

UN Net Zero Asset Owners / Managers Alliance member

Finds organisations / fund managers that are members of the UN Net Zero Asset Owners Alliance or the Net Zero Asset Managers Alliance. This is an important new initiative aimed at investors playing their part in helping to drive down carbon and other greenhouse gas emissions.

GFANZ member (AFM companywide)

Glasgow Financial Alliance for Net Zero member. This coalition was set up at COP26 (2021) to bring together and encourage collaboration between financial institutions that are committed to decarbonising the economy.

UN Net Zero Banking Alliance member (AFM companywide)

An industry led, UN convened group of banks that are committed to aligning their lending and investment portfolios to the achievement of net zero greenhouse gas emissions by 2050.

Investment Association (IA) member

Fund management entity is a member of the Investment Association https://www.theia.org/

Resources
In-house responsible ownership / voting expertise

Find fund / asset management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.

Employ specialist ESG / SRI / sustainability researchers

Find a fund / asset management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.

Use specialist ESG / SRI / sustainability research companies

Find fund / asset management companies that makes use of expert external research companies. This can help deliver specialist expertise and means resources are pooled with other investors.

ESG specialists on all investment desks (AFM companywide)

Finds organisations / fund managers that have one or more ESG/sustainability experts on all investment teams or 'desks' (all asset types)

Accreditations
PRI A+ rated (AFM companywide)

Finds organisations / fund managers that have an A+ PRI rating - meaning they are highly rated according to the 'Principles of Responsible Investment'

UK Stewardship Code signatory (AFM companywide)

Find fund / asset managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where managers are encouraged to behave like responsible, typically longer term 'company owners'.

Engagement Approach
Stewardship escalation policy

Escalation policies describe how a manager will proceed if stewardship / engagement activity is not successful in the short term.

Regularly lead collaborative ESG initiatives (AFM companywide)

Find fund / asset management companies that regularly initiate or run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.

Engaging on climate change issues

Fund / asset manager has stewardship /responsible ownership strategy that is focused on addressing climate change with investee assets.

Engaging with fossil fuel companies on climate change

Fund / asset manager has a stewardship /responsible ownership strategy that involves working with fossil fuel companies on climate change related issues. See fund manager website for details.

Engaging to reduce plastics pollution / waste

Fund / asset manager has stewardship /responsible ownership strategy with involves encouraging investee asset to reduce plastic waste and pollution.

Engaging to encourage responsible mining practices

Fund / asset manager has a stewardship / responsible ownership policy that means they are working to encourage more responsible mining practices - where environmental and social issues are properly dealt with by the companies they invest in.

Engaging on biodiversity / nature issues

The fund / asset manager has a responsible ownership / stewardship strategy that focuses on biodiversity and nature issues relating to the assets they invest the aim of which will be to reduce harm and or deliver improvement. Strategies vary. https://tnfd.global

Engaging to encourage a Just Transition

Fund / asset manager has a responsible ownership / stewardship strategy which means they are working to encourage the shift to more sustainable business practices in ways that respect and are sensitive to social issues and the impact change has on people effected by the changes that are taking place. https://www.transitionpathwayinitiative.org/ https://transitiontaskforce.net/

Engaging on human rights issues

Fund / asset manager has responsible ownership / stewardship strategy in place which aims to address human rights issues in investee companies (and potentially their suppliers) with the aim of raising standards

Engaging on labour / employment issues

Fund / asset manager has responsible ownership / stewardship strategy in place that aims to improve labour standards for the benefit of employees in investee companies (and potentially their suppliers)

Engaging on diversity, equality & / or inclusion issues

Fund / asset management company has a stewardship strategy in place which involves working to raise diversity, equality and inclusion standards across investee assets

Engaging to stop modern slavery

Fund / asset manager is working with the assets they hold to help stamp out modern slavery - where direct or indirect company employees are exploited for business benefits.

Engaging on governance issues

Fund / asset managers have stewardship strategies in place that focus on improving governance standards across investee assets

Engaging on mental health issues

Fund / asset manager has stewardship strategy in place which involves discussing mental health issues with investee companies - with the aim of raising standards

Engaging on responsible supply chain issues

Has a stewardship / responsible ownership strategy that encourages responsible supply chain - ie the managers will discuss environmental, social and governance issues with investee companies with the aim of raising standards

Engaging on the responsible use of AI

Working to address sustainability, ESG and related concerns around artificial intelligence.

Company Wide Exclusions
Nuclear exclusion policy (AFM companywide)

Fund / asset management company excludes assets with significant involvement in the nuclear industry - across all funds. Strategies vary.

Controversial weapons avoidance policy (AFM companywide)

Find fund / asset management companies (not funds) that avoid investment in 'controversial weapons' across all of their funds and other investment vehicles.

Tobacco avoidance policy (AFM companywide)

Find fund / asset management companies that avoid investment in tobacco (manufacturing) companies across all their assets.

Fossil fuel exclusion policy (AFM companywide)

Find fund / asset management companies that avoid investment in fossil fuel companies (e.g. coal, oil and gas) across all of their funds. (and/ or other assets.)

Climate & Net Zero Transition
Net Zero commitment (AFM companywide)

Fund / asset management organisations that have pledged to reduce their greenhouse gas emissions to ‘net zero’. Strategies vary - this area is changing rapidly.

Voting policy includes net zero targets (AFM companywide)

Fund / asset manager AGM / EGM voting strategy has processes in place that mean they will normally be expected to vote in a way that will encourage the transition to net zero greenhouse gas emissions.

Publish 'CEO owned' Climate Risk policy (AFM companywide)

Find fund / asset management companies that have published a Climate Risk policy or statement that is signed / owned by their Chief Executive.

Net Zero - have set a Net Zero target date (AFM companywide)

This fund / asset management company has set a date by which they plan to achieve net zero greenhouse gas / CO2e emissions.

Encourage carbon / greenhouse gas reduction (AFM companywide)

Find fund / asset management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.

Carbon offsetting - offset carbon as part of net zero plan (AFM companywide)

This fund / asset management company plans to achieve net zero greenhouse gas (CO2e) emissions with the help of a scheme that will lock away an amount of carbon that is equivalent to the company’s own emissions – so that the end result is ‘net zero’. Calculations and scope vary.

In-house carbon / GHG reduction policy (AFM companywide)

Find fund / asset management companies that are working to reduce their own (fund management company) carbon/greenhouse gas emissions.

Working towards a ‘Net Zero’ commitment (AFM companywide)

Finds organisations / fund management companies that are in the process of working out how to make a ‘net zero commitment’ - meaning that when that is finalised they will have started the process of reducing their total greenhouse gas emissions to 'zero'.

Committed to SBTi / Science Based Targets Initiative

See https://sciencebasedtargets.org/

Transparency
Full stewardship / responsible ownership policy information on company website

Find fund / asset management companies that publish information about their sustainable and responsible investment strategies on their company website.

Full stewardship / responsible ownership policy information available on request

Find fund / asset management companies that will supply information about their sustainable and responsible investment activity on request.

Publish responsible ownership / stewardship report (AFM companywide)

Find fund / asset management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.

Publish full voting record (AFM companywide)

Fund / asset management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.

In-house resources, roles and responsibilities

The Sustainable Investing function at Aviva Investors contains 40+ specialists within several teams that report to the Chief Sustainable Investing Officer to support the wide-ranging activity that underpins our sustainable investing approach. 

The Sustainability Strategy team leads and co-ordinates sustainability strategy, commercialisation of our sustainability capabilities at firm level and institutional governance matters.

The integration and stewardship team covers all asset classes, including credit, equities and multi-asset in Public Markets, and real estate, private debt and infrastructure in Private Markets. The team oversees the integration of environmental, social and governance (ESG) factors into the investment process across Aviva Investors’ spectrum of liquid and illiquid assets. This includes proprietary quantitative scoring, bottom-up ESG corporate research, top-down thematic research and outcome related analysis. The team is also responsible for conducting stewardship activities with our clients’ investments; exercising proxy voting rights and engaging with investee companies and borrowers to enhance long term shareholder value. Our ESG integration and stewardship teams work closely, and have multiple touch points, with our public and private investment functions. This helps to ensure close communication and collaboration between our investment professionals and sustainability analysts. 

Our Sustainable Investments team oversees Aviva Investors’ sustainable funds. The team develops and evolves strategic frameworks that respond to the changing landscape of sustainable markets, ensuring tangible outcomes for clients. It works to enhance the philosophy and processes underpinning existing sustainable funds, including the development of supporting data, quantitative research models, and the measurement and delivery of sustainability impacts. The team also supports sustainability research across asset classes and plays a key role in the development of new sustainability and impact strategies.

We also have a team that works closely with our parent company, Aviva, to deliver on the investment components of the Aviva Sustainability Ambitions. This relates to climate, nature and social objectives and involves defining sustainability objectives and action plans. In addition, the team is responsible for building investment solutions to deliver on sustainability objectives as well as developing net zero and nature investment analytics and tools and the solutions linked to these capabilities.

Aviva Investors works in collaboration with the Group Public Policy team to engage with national governments, regulators, standard-setters and international institutions to develop and advocate for policy measures that aim to create more sustainable capital markets.

 

External resources/responsibilities

As an active manager we source information that, alongside investment research, can support regulatory and client reporting activity. We source sustainability data from a variety of data providers, which we review regularly. We hold regular reviews with our largest third-party data provider to discuss how continuous improvements could be made to data or research outputs. Additionally, we hold ad-hoc meetings to discuss broader trends in sustainability.

Our market data team is an independent function that manages commercial relationships and renewals with our market data service providers. This function operates an hourglass model that sits between the business and suppliers. There are regular reviews in place to check that contracts are still meeting business needs, including service quality, availability and accuracy of data.

Our investment engineering team is responsible for several models and analytical dashboards, using data science techniques to derive greater value from vendors, NGOs and proprietary sourced datasets. Dashboards provide transparency into the construction of models. Integration of model outcomes into our portfolio management tool allow analysts and fund managers to take these insights in consideration.

Examples of data providers used:

Data vendors – Large-scale providers with multiple datasets and deep coverage

  • MSCI
  • LSEG
  • Trucost Analysis – S&P Global

Data specialists – Innovative and niche providers with specific scope and high quality

  • BoardEx
  • IBAT
  • Iceberg Data Lab
  • Auquan

NGOs - Specialist analysis, often not for profit; detailed datasets with issuer scope aligned to purpose

  • CDP
  • Climate Bonds Initiative

To support us in making voting decisions on thousands of meetings a year, we subscribe to research from third-party providers. Our main provider for voting services since October 2023 is Glass Lewis. We also subscribe to IVIS research (provided by the Investment Association) and MSCI. We use research for data analysis only and do not automatically follow research provider voting recommendations. We also receive recommendations from Glass Lewis based on our own policy, which we can override in consideration of other factors, including internal views, additional context provided in external research, and company explanations.

 

Briefly describe governance structure and responsibilities

The Aviva Investors boards, including Aviva Investors Holdings Limited, Aviva Investors UK Fund Services Limited, Aviva Investors Luxembourg (Lux.) Supervisory, Aviva Investors Lux. Management Company and Aviva Investors Lux. SICAV, receive regular reporting on key sustainability risk management metrics throughout the year. These include the results of sustainability risk assessments, do no significant harm indicators, climate value at risk and carbon intensity figures. These give the boards oversight of our approach to sustainability risk management and of how we are delivering on our clients’ sustainability preferences. In 2024, the Boards also received deep dives into climate metrics and the commercialisation of sustainability capabilities. We continue to develop and refine our approach to Board reporting to support effective oversight of our stewardship activities, including reviewing metrics to ensure they remain current and providing narrative and rationale to contextualise the sustainability information our boards receive.

The Aviva Investors Holdings Limited Board sets our overarching approach for sustainability. Responsibility for executive management of this approach is delegated to the CEO. The CEO is provided with advice and support from the executive team, which includes our chief sustainable investing officer.

The chief sustainable investing officer is responsible for proposing and implementing our sustainability strategy, oversight and execution policies and commitments at a firm and product level, and oversight of compliance with the relevant internal controls environment. Our sustainability strategy director chairs, on behalf of the chief sustainable investing officer, the sustainable investing business oversight committee, which includes representation from across the business. This committee ensures sustainable investing policies and procedures are aligned with firm-wide policies and procedures, and that the business is embedding client preferences in its approach to sustainability.

Working collaboratively with investment desks, the chief sustainable investing officer’s team is responsible for ESG integration and stewardship in public markets, ESG integration and stewardship in private markets, development of sustainable funds, development of sustainability analytics and tools, and sustainability strategy and governance.

Our analysts, regulatory development and client-facing teams monitor ongoing sustainability developments, with any revisions to policies subject to final approval by our policy approval group.

 

List related affiliations, memberships, and involvement with groups such as UNPRI / IIGCC / CA100+/CDP

The list below shows collaborative initiatives in which Aviva Investors participates as an active member, where we have participated in events or where we have indicated support for a statement as a signatory. More information regarding any of the initiatives or statements can be provided on request. This list is as of 31.12.2024 and can be found in our 2024 Annual Sustainability Review here: Policies and documents - Aviva Investors

Founding member

  • Collaborative Sovereign Engagement on Climate Change
  • Investor Action on Anti-Microbial Resistance
  • Investor Initiative on Hazardous Chemicals (IIHC)
  • Investor Initiative on Human Rights Data (II-HRD)
  • Sustainable Stock Exchange Initiative
  • UN Principles for Responsible Investment (UN PRI)
  • World Benchmarking Alliance (WBA)

Memberships and working groups

  • 30% Club UK Investor Group
  • Advance
  • Aldersgate Group
  • Asian Corporate Governance Association (ACGA)
  • Benchmarking Human Rights Performance
  • Bondholder Stewardship Working Group
  • Chatham House
  • Climate Engagement Canada (CEC)
  • FAIRR – Biodiversity, Waste and Pollution Programme
  • FAIRR – Protein Diversification
  • FRC UK Stewardship Code 2020
  • GC100 and Investor Group – Remuneration Reporting
  • Guidance
  • GFANZ Policy Workstream
  • Global Impact Investing Network (GIIN)
  • Global Institutional Governance Network (GIGN)
  • Good Work Coalition
  • Global Real Estate Sustainability Benchmark (GRESB)
  • Institutional Investors Group on Climate Change (IIGCC)
  • Investor Policy Dialogue on Deforestation (IPDD) Initiative
  • Labour Rights Investor Network (LRIN)
  • Nature Action 100
  • Net Zero Asset Managers Initiative (NZAM)
  • ShareAction – Chemical Working Group
  • Sovereign Debt Advisory Committee
  • The Investment Association
  • The Investment Association – Climate Change Working Group
  • The Investment Association – Remuneration and Share Schemes Committee
  • The Investment Association – Sustainability and Responsible Investment Committee
  • The Investor Forum
  • TheCityUK Sustainable Finance Forum
  • Transition Finance Market Review Expert Advisory Panel
  • UN Principles for Responsible Investment Sustainable Systems Investment Managers Reference Group
  • VBDO (Vereniging van Beleggers voor Duurzame Ontwikkeling) Investor Statement on Plastics

Signatories and collaborative events

  • Access to Medicine Foundation
  • Carbon Disclosure Project (CDP)
  • Climate Action 100+ (CA100)
  • Global Investor Statement to Governments on the Climate Crisis
  • Partnership for Carbon Accounting Financials (PCAF)
  • Planet Tracker Plastic Pollution Investor Statement
  • Rathbones Statement on Reporting Requirements re: Section 54 of UK Modern Slavery Act

Funds

Disclaimer

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 30 June 2025. Unless stated otherwise any views, opinions and future returns expressed are those of Aviva Investors and based on Aviva Investors internal forecasts. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. Past performance is not a guide to future returns.

Some of the information within this document is based upon Aviva Investors estimates. It is not to be relied on by anyone else for the purpose of making investment decisions.

In Europe this document is issued by Aviva Investors Luxembourg S.A. Registered Office: 2 rue du Fort Bourbon, 1st Floor, 1249 Luxembourg. Supervised by Commission de Surveillance du Secteur Financier. An Aviva company. In the UK Issued by Aviva Investors Global Services Limited. Registered in England No. 1151805.  Registered Office: 80Fen, 80 Fenchurch Street, London EC3M 4AE.  Authorised and regulated by the Financial Conduct Authority. Firm Reference No. 119178.