Aviva launches climate transition fund for workplace pension schemes


Aviva is plotting the launch of an actively-managed equity fund it says will invest in the shares of companies across the globe that are actively seeking to respond to the climate crisis and build a lower carbon economy, it announced last week.

The Aviva Investors Climate Transition Global Equity Fund - which was opened to Aviva's workplace pension scheme platforms last week - was first launched by the provider's global asset management arm Aviva Investors last year.

Aviva said the fund would target companies offering good and services which are actively providing solutions to climate change mitigation. It will also invest in companies orienting their business models and policies toward a low-carbon economym, it said.

The investor said companies exposed to thermal coal, unconventional fossil fuels, and thermal coal electricity generation will be exluded from the fund, which will also limit exposure to businesses producing oil and gas.

Head of workplace savings and retirement Laura Stewart-Smith said responsible investment was no longer a "nice to have" for pensions.

"The investment and workplace pensions industry has an important role in changing the world for the better," she said. "The launch of this latest fund onto our workplace pension platforms is another step towards making that happen."