Stepping up for the environment
Aegon has a dedicated sustainability approach that is integral to its strategy and takes into account the expectations, interests, and perspectives of the company’s stakeholders.
At Aegon, we aim to leave the planet a little better than we found it. That's why we're actively reducing the environmental impact of our operations and own investments, with a focus on climate change.
Transitioning our investments to net-zero
As part of our responsible investment framework, we have committed to transition our general account investment portfolio of around EUR 70 billion to net-zero greenhouse gas (GHG) emissions by 2050, supporting the global transition to a net-zero economy.
By 2030, Aegon aims to:
- Reduce the weighted average carbon intensity of Aegon’s corporate fixed income and listed equity general account assets by 50% against a 2019 baseline.
- Reduce the scope 1 and 2 carbon intensity of Aegon’s directly held real estate investments by 42% against a 2019 baseline.
- Invest an additional USD 1 billion, on top of Aegon’s existing USD 2.5 billion commitment, in activities to help mitigate climate change or adapt to the associated impacts by 2030.
- Continue engagements with at least the top 20 corporate carbon emitters in Aegon’s portfolio.
Beyond 2030, Aegon will continue to update its targets in five-year intervals. Aegon’s targets align with the latest guidance issued by the United Nations-convened Net-Zero Asset Owner Alliance (NZAOA), to which Aegon is a signatory. This guidance includes a comprehensive framework for setting science-based goals aligned with the Paris Agreement.
Lard Friese, CEO Aegon
We harness good practice to counter climate change
Aegon is a signatory to a number of frameworks that guide our internal practices and policies.
In November 2021, Aegon joined the Net-Zero Asset Owner Alliance, a UN-convened group of institutional investors committed to transitioning their portfolios to net-zero greenhouse gas emissions by 2050.
As part of this, we have committed to transition our general account investment portfolio* to net-zero greenhouse gas emissions by 2050. We have set clear medium-term targets for 2030, against a 2019 baseline:
- Reduce the weighted average carbon intensity of Aegon’s corporate fixed income and listed equity general account assets by 50% against a 2019 baseline.
- Reduce the scope 1 and 2 carbon intensity of Aegon’s directly held real estate investments by 42% against a 2019 baseline.
- Invest an additional USD 1 billion, on top of Aegon’s existing USD 2.5 billion commitment, in activities to help mitigate climate change or adapt to the associated impacts by 2030.
- Continue engagements with at least the top 20 corporate carbon emitters in Aegon’s portfolio.
For our 2025 disclosures, see our 2025 Integrated Annual Report (page 311)
Aegon believes that governments, companies, and investors have a responsibility to mitigate climate change and its impacts and to facilitate a transition to a climate-resilient economy.
Our Integrated Annual Report includes an overview of how the Task Force on Climate-related Financial Disclosures (TCFD)’s four-pillar framework can be mapped to our existing disclosures.
We participate in the annual CDP Climate Change disclosure, where we publish performance data, policies and practices related to the impacts and opportunities related to climate change in the context of our business activities.
Aegon has made disclosures to CDP since 2015. The initiative encourages companies to be more open about their greenhouse gas emissions and other climate related impacts.
* The general account portfolio consists of assets where Aegon can take the investment decisions, considering the legal obligations of Aegon as prescribed by local laws and regulations. A similar approach applies to selected investments where Aegon Asset Management in its capacity of manager takes the investment decisions. For discretionary investments for account of third parties and off-balance sheet investments, the investment decisions are driven by the relevant third parties as well as the legal and/or fiduciary obligations of Aegon, as prescribed by local laws and regulations.