Aviva has announced the launch of a new fund for workplace pension schemes that will invest in the shares of companies globally that are responding to climate change.
Businesses that have their workplace pension scheme with Aviva will be able to give their employees the choice to invest in the Aviva Investors Climate Transition Global Equity Fund from today.
The fund will target companies offering goods and services that are providing solutions for climate change mitigation and adaptation, as well as invest in companies that are aligning their business models to be resilient in a low carbon world.
It will not invest in companies exposed to thermal coal, unconventional fossil fuels or thermal coal electricity generation and limit exposure to those producing oil and gas.
This is the second equity fund Aviva has launched that is aimed at supporting the transition to a low carbon economy.
Laura Stewart-Smith, Head of Workplace Savings and Retirement at Aviva said: “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.”