Aviva Investors has launched a new climate transition fund onto its workplace pension scheme platforms.
This fund — Climate Transition Global Equity Fund —is an actively managed fund. This is the second Aviva equity fund aimed at support the transition to a low carbon economy, and uses Aviva Investors’ proprietary methodology for defining climate investment risk.
Aviva says the fund targets companies offering goods and services which are providing solutions for climate change mitigation and adaptation, as well as investing in those companies that are orientating their business models to be resilient in a low-carbon, warmer world.
The fund will not invest in companies exposed to thermal coal, unconventional fossil fuels, or thermal coal electricity generation, and limits exposure to those producing oil and gas or gas-fired power generation.
Aviva head of workplace savings and retirement Laura Stewart-Smith says: “Responsible investing is no longer a ‘nice to have’. The investment and workplace pensions industry has an important role in changing the world for the better, and the launch of this latest fund onto our workplace pension scheme platforms is another step towards making that happen.
“Aviva has been at the forefront of responsible investment for decades and we take our duty very seriously. We want to offer our pension scheme members simple but effective ways of ensuring that as they save for retirement, their investment is being used for the good of society and the planet.”
Over the past few years, Aviva’s workplace savings and retirement business has implemented a range of responsible investment initiatives. In 2019, it launched the ‘Stewardship lifestyle strategy’ — a workplace pension default investment strategy that incorporates ethical and ESG considerations.
Last year, the trustees of the Aviva Master Trust announced the standard default investment strategy would be My Future Focus — which integrates ESG factors into its design and management.
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