NET 0 Tracker

Additional notes: All evidence from the following source: 2024 Transition Plan, p.48, https://web.archive.org/web/20250819030632/https://static.aviva.io/content/dam/aviva-corporate/documents/socialpurpose/pdfs/2024-transition-plan.pdf) Carbon Credit Conditions: Must be high environmental integrity: "Ensuring high-quality impactful carbon removals" "Ultimately, any carbon credits generated will be certified by a third party against a recognised standard prior to being used by Aviva." Avoid social/biodiversity harm: "nature-based carbon removals which provide social and economic benefits to our communities" "which deliver carbon sequestration, biodiversity gain, improved climate resilience, and social and community benefits" Maximum percentage of emissions that can be offset: "From 2030 we expect to use and retire carbon removal credits to offset our residual Scope 1 and Scope 2 emissions (equivalent to 10% or less of our 2019 baseline Scope 1 and Scope 2 emissions)" Separate targets for emissions reductions and removals: "In order to limit global temperature rise to 1.5°C, we recognise the need for the removal of carbon dioxide from the atmosphere in parallel with significant reductions in emissions" "In parallel with our focus on decarbonisation, we support an increase in high-quality carbon removal at scale.' Nature-based and CCS-based removals within its target boundary: "We have so far committed £87 million to nature-based solutions in the UK, Ireland, and Canada, which deliver carbon sequestration, biodiversity gain". "Over time we believe technology-based carbon removals may become an important part of our removals portfolio. At this stage, nature-based removals offer a solution which also addresses multiple challenges, such as nature loss, climate mitigation and adaptation, and health and financial resilience."