Two thirds of brokers yet to focus on net zero transition – Aviva

More than half of brokers are yet to develop or implement a plan towards achieving net zero emissions.

That was according to Aviva, which revealed that 65% of such firms were not yet making moves to become more sustainable.

The main reason for this was cost, with the insurer saying that 53% of brokers without a net zero plan cite this as the primary inhibitor to achieving their goals.

Other reasons referenced include that they are too small for net zero to be an issue (40%), transitioning to net zero is not a strategic objective (33%) and not having the necessary resources (13%).

The results were published in the insurer’s Broker Barometer, which surveyed 251 general insurance brokers.

Support

Despite this, one in three brokers (35%) have a plan to achieve net zero emissions, up from 27% in 2023 and 17% in 2022.

And Aviva found that more brokers wanted support when transitioning to net zero.

For example, when brokers were asked what support would be helpful in starting or accelerating their sustainability journey, 42% said help setting the direction, ambition and strategy.

Aviva said its Sustainable Business Coach can help brokers understand their net zero challenges in more detail, providing them with actionable sustainability advice and guidance.

Simon Burckitt, sustainability lead at Aviva, said: ”Our research shows a shift in demand from broker’s clients asking for support and guidance on making their businesses more sustainable. In addition, we’ve seen an uptick in the number of brokers implementing plans to achieve net zero.

”We want to help brokers meet this demand, leading by example and ensuring that they and their client’s businesses transition to net zero [goes] smoothly, providing them with the necessary tools and support.

“Although costs and adaptability measures continue to challenge many businesses, we can help brokers and their clients find their own path to a net zero business plan that works for them.”