Aegon's response to the Friends of the Earth report by Milieudefensie

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by KnowESG,

Aegon N.V.

Milieudefensie Friends of the Earth report

Friends of the Earth (Milieudefensie) rated the climate action plans of 29 large Dutch companies. The report criticized Aegon and other companies for their climate change efforts and transparency. Aegon appreciates the insights the report offers and will reflect on them.

Aegon recognizes that climate change is one of the greatest challenges of our time and is committed to proactively addressing this challenge and protecting the health of the planet. The company believes that it is its responsibility to help prevent and mitigate the effects of climate change and is fully aligned with its purpose of helping people live their best lives.

In 2021, the company identified two sustainability priority themes: Climate Change and Inclusion & Diversity. As part of this effort, Aegon has embarked on a journey to transition its investment portfolio to net-zero emissions by 2050. This commitment includes an intermediate target to reduce the carbon intensity of its corporate fixed income and listed equity general account assets by 25% in 2025 versus 2019.

Aegon understands that collaboration is crucial to delivering the real solutions to mitigate climate change. The company engages with clients, business partners and other stakeholders, including Milieudefensie and many other NGOs to work together both in supply chains and at industry level.

As an investor, the company uses its influence to encourage the companies it invests in to act in the interests of society and the environment. If they do not meet its standards, the company may stop investing in those companies.

The report from Milieudefensie not only highlights the room for growth for individual companies but emphasizes the need to collaborate and leverage each other’s expertise to accelerate the journey towards a carbon neutral world in 2050.

Aegon cannot do it alone and looks forward to continuing and establishing collaborations and constructive dialogues that help protect the health of the planet as the lives of current and future generations extend. While a longer life is a beautiful thing, it has to be able to enjoy it in a clean, healthy, and safe environment.

Source: Aegon newsroom

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