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AUM in Action

Universal Owners Prioritise Climate, Nature and Inequality

Tackling the cost-of-living crisis will be a stewardship priority for Aviva Investors this year, with it looking “unfavourably” on companies who attempt to protect profitability and shareholder returns through the excessive transfer of costs to employees, suppliers and customers. The UK-based asset manager said it will expect boards to consider paying a living wage, offer financial support to low-income workers, engage with trade unions, support vulnerable customers and show responsibility on executive pay. Reversing nature loss will also be a stewardship priority for Aviva Investors, with it expecting all companies to begin reporting within a reasonable timeframe against the Taskforce on Nature-related Financial Disclosures (TNFD). In 2022, Aviva Investors voted against the directors at 71 companies for insufficient polices and targets on biodiversity. Its third stewardship priority will be transitioning to a low-carbon economy with it expecting companies to publish climate transition plans supporting decarbonisation in a just and inclusive manner. Norges Bank Investment Management (NBIM) will reportedly vote against directors failing to tackle the climate crisis, human rights abuses and boardroom diversity. In 2022, Aviva Investors voted against the re-election of directors at 107 companies for lack of progress on ethnic diversity.  

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