Stepping up action on the climate change challenge

In November 2021, Aegon joined the Net-Zero Asset Owner Alliance, a UN-convened group of institutional investors committed to transitioning their portfolios to net-zero greenhouse gas emissions by 2050.

As part of this, we have committed to transition our general account investment portfolio* to net-zero greenhouse gas emissions by 2050. We have set clear medium-term targets for 2025, against a 2019 baseline: 

• Reducing the weighted average carbon intensity of our corporate fixed income and listed equity general account assets by 25%;
• Reducing the scope 1 and 2 carbon intensity of our directly-held real estate investments by 25% (kgCO2e/m2);
• Investing USD 2.5 billion in activities to help mitigate climate change or adapt to the associated impacts; and
• Engaging with at least the top 20 corporate carbon emitters in the portfolio.

Aegon will set additional targets at five-year intervals for the period after 2025 until 2050. To reach the 2025 target, Aegon will adjust its general account portfolio. 

Aegon will regularly engage with the most carbon-intensive companies in its global investment portfolio to drive real-world reductions in greenhouse gas emissions.

For our 2021 disclosures, see page 20 of our 2022 Integrated Annual Report

Aegon believes that governments, companies, and investors have a responsibility to mitigate climate change and its impacts and to facilitate a transition to a climate-resilient economy. 

Our Integrated Annual Report follows the Task Force on Climate-related Financial Disclosures (TCFD)’s four-pillar framework to facilitate disclosure. Aegon strives to continuously enhance its reporting and business practices and welcomes feedback from stakeholders on the appropriateness and relevance of this disclosure.  

See page 422 of our Integrated Annual Report 

We participate in the annual CDP Climate Change disclosure, where we publish performance data, policies and practices related to the impacts and opportunities related to climate change in the context of our business activities. 

Aegon has made disclosures to CDP since 2015. The initiative encourages companies to be more open about their greenhouse gas emissions and other climate related impacts. 

• CDP Climate Change 2022 (2021 Reporting Year) 

Aegon signed the Paris Pledge for Action in 2015, committing us to take action in support of implementing the Paris Agreement and accelerating the transformative changes needed to meet the climate change challenge.

 Go to our Commitments, ratings & recognition page