Stepping up action on the climate change challenge
Aegon seeks to support the transition to a climate-resilient economy and a net-zero world.
We have a responsibility to manage our investments to take account of climate risk. We do this through our responsible investment framework and by integrating sustainability considerations into our risk management processes. In addition, we offer our customers products with climate resilience built in to accelerate the path to net-zero.

Transitioning our investments to net-zero
As part of our responsible investment framework, we have committed to transition our general account investment portfolio* to net-zero greenhouse gas (GHG) 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.
Lard Friese, CEO Aegon

We collaborate to counter climate change
In order to amplify our impact, we have signed several international commitments that guide our internal practices and policies and help shape our overall approach to sustainability.
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.
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.
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.
* The general account portfolio consists of assets where Aegon can take the investment decisions, considering the legal obligations of Aegon as prescribed by local laws and regulations. A similar approach applies to selected investments where Aegon Asset Management in its capacity of manager takes the investment decisions. For discretionary investments for account of third parties and off-balance sheet investments, the investment decisions are driven by the relevant third parties as well as the legal and/or fiduciary obligations of Aegon, as prescribed by local laws and regulations.