Amanda Blanc, CEO of Aviva, reaffirms the insurer's commitment to climate transition plans despite rising political resistance against net-zero targets in the US and UK. She highlights extreme weather risks as a business necessity and consumer priority, citing recent climate events as critical factors for insurers. Aviva aims for a 90% reduction in operational emissions by 2030 and a shift to renewable electricity, while acknowledging the complexities in addressing client-related emissions. The company's operating profit rose 22% in the last six months, reflecting strong growth in general insurance premiums.
Aviva's commitment to climate transition remains steadfast, with Amanda Blanc emphasizing that climate action is not only essential for the environment but also crucial for business viability amid increasing extreme weather risks.
Blanc highlighted the severe impacts of extreme weather events, such as wildfires and floods, that necessitate a proactive approach to insurance and climate-related risk management.
Despite political opposition in the US and UK towards net zero goals, Aviva aims to reduce operational emissions by 90% by 2030 and switch to 100% renewable electricity.
Blanc acknowledged the intricacies involved in reducing emissions associated with clients but affirmed that the initiative continues to be evaluated as part of Aviva's broader strategy.
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