Brokers make moves to meet net zero targets – Aviva

UK brokers are making moves to meet their climate targets as more start to implement net zero plans.

That was according to Aviva, who yesterday (17 May 2023) released the results of its Broker Barometer research.

From a survey of 224 brokers, the insurer reported that 27% had actively implemented net zero plans – up from 17% in 2022.

Adam Winslow, chief executive of general insurance at Aviva UK and Ireland, said it was ”fantastic to see that 10% more brokers have brought their net zero plans to life”.

“The move to net zero undoubtedly presents a huge commercial opportunity for the insurance industry as businesses of all kinds will have to adapt their operations,” he added.

”This is particularly the case for brokers who are trusted to use their own experience and expertise to help businesses manage their risk and be more resilient during times of change.”

‘Ready as possible’

This came after Ecclesiastical Insurance claimed brokers were demonstrating a lack of urgency and interest in transitioning to net zero after releasing the results of its own survey in April 2023.

The results revealed the number of brokers who said their firm had no interest in being net zero rose from 21% to 27% year-on-year.

Aviva’s research found brokers who had developed a plan – but were yet to take action to implement the measures – sat at 31%, while one third of respondents (33%) had only committed to developing a plan.

Winslow highlighted it was important ”to be mindful of those brokers who do not yet have an active plan and provide practical initiatives and training to support the uptake of implementation”.

However, Aviva’s survey found the majority of brokers (97%) said they were actively interested in making their and their clients’ businesses more sustainable.

It also highlighted that video calling and conferencing (33%), reducing travel or air travel (33%) and making sure waste products were recycled or disposed of more safely (31%) were the three most popular actions brokers have taken to reduce their impact on the environment

Winslow added Aviva wanted the UK to “be as climate ready as possible” in the lead up to 2050 and wanted “to bring our broker partners with us on that journey”.

“Brokers that are delivering guidance on becoming a net zero business, as well as their insurer partners, will want to be confident that they are leading by example,” he added.

”We all have to play our part in meeting our collective net zero climate goals.”