The Dutch insurer Aegon has updated its net-zero targets for 2030. This new set of targets reinforces Aegon’s commitment to transition its 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. 

The new targets align with the latest guidance issued by the United Nations-convened Net-Zero Asset Owner Alliance (NZAOA), of which Aegon is a member. This guidance includes a comprehensive framework for setting science-based goals aligned with the Paris Agreement. 

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.

The insurer noted in its press release that beyond 2030, it will continue to update its targets in five-year intervals, which aligns with the schedule set out in the NZAOA's guidelines.