Aviva said it plans to become net zero in less than two decades, a move that is likely to put pressure on the companies that it invests in to change their practicesOne of Britain’s biggest insurers is putting companies worldwide on notice that it will divest any interests and refuse to provide cover if they fail to meet ambitious targets to reduce greenhouse gas emissions. Aviva is the first global insurer and the first UK financial services company to set a target of reducing carbon emissions to net zero by 2040, a move that will ripple through its operations, supply chain and investments. SponsoredThe insurer manages £300 billion of investments and has billions of pounds in FTSE 100 companies, including Royal Dutch Shell and BP. It said that it would divest from all companies making more than 5 per cent of their revenue from coal or unconventional fossil fuels by 2022, unless they had signed

Source: The Times March 01, 2021 00:05 UTC