Aegon raises the flag for global sustainability
Aegon is showing its support for the UN’s Sustainable Development Goals (SDGs) by taking part in the SDG Flag Day on Friday, September 23.
The initiative was driven by the Global Compact Network Netherlands to help increase awareness of the 17 SDGs. The SDG Flag was raised outside our headquarters in The Hague on Friday, September 23.
The SDGs are part of the UN 2030 Agenda for Sustainable Development, which was adopted by all Member States in 2015. The 17 SDGs and their 169 sub-goals are an urgent global call to action to end poverty, reduce inequalities and tackle climate change:
Being both a global insurance company and asset owner, Aegon recognizes that sustainable development is in the long-term interest of our business and society. The SDGs thus provide a clear framework for our purpose of helping people live their best lives. We aim to focus on the goals that are most relevant to our business and strategy, and to which we can make a significant contribution: climate change, and inclusion and diversity.
"Taking part in the SDG Flag Day shows our continued and long-term commitment to a sustainable future for people and the planet and contributing to a selection of SDGs where we can actively make a difference.
By raising our SDG flag, we also acknowledge the hard work being undertaken by colleagues on progressing our sustainability commitments."
Frans de Beaufort | Global Head of Corporate Sustainability Strategy
Three primary UN Sustainable Development Goals in focus
From a global perspective, Aegon’s sustainability strategy focuses on climate change, and inclusion and diversity, which translates into three Sustainable Development Goals.
SDG 5 Gender Equality & SDG 10 Reduced Inequalities
Consideration for gender equality is incorporated into numerous Aegon policies including our Code of Conduct. Inclusion & Diversity has been selected as one of Aegon’s priority themes in our sustainability vision. One example is our renewed target of 36% for female representation in senior management set for 2022.
SDG 13 Climate Action
We are committed to transitioning our general account investment portfolio to net-zero greenhouse gas emissions by 2050. This includes an intermediate target to reduce the carbon intensity of our corporate fixed income and listed equity general account assets by 25% in 2025 vs 2019. We are also applying that percentage of 25 % to reducing our operational footprint by 2025 vs 2019.
In 2022, Transamerica and Aegon Asset Management became anchor tenants in Iowa's first community solar garden. Aegon NL also committed to an investment of at least an extra EUR 1 billion in assets to tackle the effects of climate change. This includes green buildings, sustainable forests and green hydrogen, and investments are also made with a focus on renewable energy in emerging markets.
In addition to the above, Aegon Asset Management contributes to the UN SDGs through its impact investments. These investments are made with the intention of generating positive, measurable social and environmental impact alongside a financial return. Strategies include government-related investments, global impact equities, US low-income housing tax credit equity, and multi-manager global green bonds.