Aegon supports local causes that align with our purpose and ambitions, including by way of investments that seek to serve and strengthen the communities in which we operate.
Our community investment initiatives are aimed at serving and strengthening our local communities on the one hand, while also enabling our employees to engage with their communities and promote our purpose and sustainability approach.
In 2022, Aegon supported 493 charities and good causes. Our donations amounted to EUR 10.6 million, a 13% increase compared with 2021. Much of this investment was driven by our Charitable Donations Standards, which require country units to allocate at least 50% of their annual donations to causes that directly support financial security and personal wellbeing. Aegon employees recorded 16,911 volunteer hours in 2022 (equivalent to EUR 1.2 million, based on volunteers’ average salaries).
War in Ukraine
Recent challenges such as the war in Ukraine and the rising cost of living have made our charitable contributions more important than ever. In February 2022, Aegon made a company-wide donation of EUR 1 million to the Red Cross to support the humanitarian effort for Ukraine and its citizens.
The Aegon community came together in 2021 to support relief efforts amid the unprecedented surge of COVID-19 cases across India and in recognition of the many Aegon employees who live and work in the country. Donations totaling EUR 300,000 were made to worthwhile causes. The Aegon Transamerica Foundation contributed to Direct Relief, an international humanitarian aid organization that provides oxygen concentrators, medication, personal protection equipment, and financial resources to frontline healthcare providers in India.
A further contribution was made on behalf of Aegon to the United Nations Children's Fund (UNICEF), which is working tirelessly to tackle the impact of the pandemic on India’s children and their families, and boost access to critical oxygen therapy and accurate testing. With these swift and coordinated actions, we helped deliver essential relief and support that saved lives.
To further underline our purpose, we have selected two overarching themes for our donations, which is reflected in the Charitable Donations Standards:
- Under the theme of financial security and education, we support charities that promote financial education and financial literacy such as teaching children about finance and helping adults understand their finances. We also support programs that help older people with their quest for gainful employment, be it starting their own business or retraining.
- To promote well-being and longevity, Aegon supports charities that encourage physical fitness and mental vitality. We also help organizations in the prevention and research of old-age diseases such as Alzheimer's, heart disease and cancer.
Aegon's Charitable Donations Standards sets out the guidelines for our support to charities, good causes and other non-profit organizations.