Sustainability is about how we look to protect what matters most
For us, it's a commitment. It's part of how we think about the future and the role we play in it.
It means taking a long-term view, making thoughtful decisions and being mindful of the impact they could have – today and over time. As we live longer and think differently about what a 100-year life might look like, the world we depend on plays an ever more important role in that picture.
Climate change as well as resource scarcity, inequality, shifting workforce expectations and geopolitical instability are all contributing to a more uncertain world. That's why we focus on strong governance, clear responsibilities and careful decision-making, helping us respond as the world evolves. By managing our business responsibly, we aim to support you, your clients, your members and our people – and to stay resilient as sustainability risks continue to emerge.
How we put our sustainability approach into action
A dedicated Sustainability Board helps make sure sustainability is considered alongside everyday decisions with long-term thinking built in.
We’re committed to responsible investment, and have set targets to reduce the carbon footprint of our key investment strategies.
Sustainability influences how we run the business day to day – from managing our environmental impact to building an inclusive culture.
We monitor progress through our Climate Roadmap, using defined measures so we can track how things are moving over time.
We’re committed to creating a positive social impact – building an inclusive workplace where colleagues can thrive and investing time, skills and resources to support our communities.
We also publish climate-related disclosures in line with the TCFD (Task Force on Climate-Related Financial Disclosures) framework. Our TCFD entity report sets out our approach to managing financial risks and opportunities from climate change. Our TCFD product report shows climate metrics for our entire fund range, including key default funds.
Our sustainability efforts are made up of 4 key sections:
With over 30 years’ experience managing responsible investments, we believe that the way we invest our customers’ savings can play a role in supporting their long-term financial future, and the world we live in.
Net-zero commitment
In 2019, we committed to net-zero greenhouse gas emissions for our pension default fund range by 2050 and to a 50% reduction in emissions by 2030. By 2025, we'd made meaningful progress – reducing our carbon footprint by 60% across our default funds.1
Stewardship principles
We’re a signatory of the UK Stewardship Code, which sets expectations for how investors can exercise stewardship on behalf of savers and pension holders.
£44 billion invested
More than £44 billion (as at December 2025) invested in default funds that consider environment, social and governance (ESG) factors.
£500 million for climate solutions
We’ve pledged to invest £500 million by 2026 in climate related solutions – including areas such as renewable energy – where investments are intended to support climate change mitigation and adaptation.
Global collaboration
We’ve signed up to the UN Principles for Responsible Investment and have joined initiatives like the Institutional Investors Group on Climate Change (IIGCC).
1 Measured using carbon footprint across our full range of default funds. Emission targets don’t apply to individual funds. 2030 emissions target applies to scope 1 and 2 emissions from listed equities (shares) and corporate fixed income (bonds) only.
Alongside how we invest, caring for the environment in our office spaces is a key element of our positive impact ambitions.
100% renewable energy across our offices
564 solar panels installed at Edinburgh, generating approximately 200,500kWh annually
95% of our business fleet vehicles are hybrid or electric
Five beehives at our Edinburgh site, with wildflower planting to support pollinators
90% waste recycling with food waste converted to compost and oil waste to biodiesel
We’ve committed to reduce office‑based emissions by around 77% by 2029, compared with 2019 levels. By 2025, a 62% reduction had been achieved, supported by lower fuel use and improved energy efficiency.
Refurbish and reuse first including IT kit, office furniture and packaging – often passed on to community or charity projects.
Reduced travel emissions through lower air travel and increased use of rail. Overall transport mileage is down by around 80% compared with 2014.
Creating an inclusive culture where colleagues can thrive, and supporting the communities we’re part of, are central to how we approach social impact across our business.
Talent
We aim to offer clear, competitive pay across all roles, guided by Aegon’s global remuneration framework, and we’re an accredited Living Wage employer. We want colleagues to feel supported, included and able to progress. We do this by:
- Widening access through inclusive recruitment processes such as removing the need for CVs for entry level roles, publishing salaries on adverts, and sharing interview questions on our website.
- Supporting colleagues with inclusive policies and benefits.
- Setting targets for Women in Senior Leadership through our Women in Finance Charter commitments.
- Supporting colleagues’ growth through personalised development plans, learning opportunities, and tools to connect people to new projects and opportunities across the business.
Inclusive workplace
We listen to what matters most to our colleagues. Through our engagement survey, we ask questions about how colleagues feel when it comes to inclusion, equity and diversity, to identify what we’re doing well and where we can improve. We build an inclusive workplace for everyone by:
- Looking after our employees and providing support with their physical, mental and financial wellbeing.
- We’re recognised as a Disability Confident employer – Level 1.
- We’re a menopause friendly accredited employer.
- We’re accredited as an LGBTQ+ inclusive employer by Workplace Pride – Ambassador status.
- 85% of colleagues feel positively about inclusion and openness, and 89% feel positively about diversity and equity.3
- We currently have 41.4% women in senior leadership (as at end 2025), aiming for 50% by 2030.3
3 Aegon UK gender pay gap report, 2025 - pages 16 and 17
Giving back
We devote time and resources helping the communities in which we live, work and do business – supporting local and national charities through fundraising, donations and our voluntary hours programme. Our community investment is guided by principles of social and financial inclusion, helping us focus support on charities aligned to our purpose.
We aim to help people facing barriers linked to identity or socio‑economic background by:
- Creating accessible employment pathways
- Supporting career progression for underrepresented groups
- Partnering with communities and charities to remove barriers, offering breakfast clubs, mentoring and internships
- Championing fair pay and inclusive practices
In total in 2025:
- 57 charities donated to
- £173,671,95 raised for our 7 charity partners chosen by colleagues (including double matching)
- £295,371.95 donated across 57 charities
- 7429 hours volunteered for charities
Our charity partners chosen by colleagues for 2026 are:
Every colleague can use two paid days each year to volunteer for charities in our local communities, offering skills in areas like marketing, HR, design and technology.
Find out more
Explore the resources below to learn more about how we’re progressing in these areas and how we hold ourselves accountable to strong ethical and social standards.
We want to partner with organisations that match our values. As a large business, we work with hundreds of suppliers each year and they play a vital role in supporting our purpose and vision. We recognise that our supply chain has an impact, which is why we choose to work with partners who act responsibly.
Strong ethical standards
Our Vendor Code of Conduct sets out clear expectations for how business should be carried out. Our tier‑one suppliers are asked to confirm their commitment to these standards each year.
Independent sustainability assessments
Over half of our top 50 suppliers hold an EcoVadis sustainability rating, or use their own equivalent CSR (Corporate Social Responsibility) assessment to demonstrate responsible practices.
Understanding our suppliers’ environmental impact
84% of our in‑scope suppliers have completed ESG questionnaires. This helps us better understand their environmental impact and supports conversations around improvement, including reducing greenhouse gas emissions where possible.
Committed to social value
We’ve committed £100,000 each year to working with social enterprise suppliers. In 2025, our total spend with these suppliers was £133,299.
We’ve built long‑standing relationships with many of our suppliers, and we continue to engage with them through sustainability assessments, better reporting, and practical steps that improve their performance.
We know sustainability is a journey, and we’re committed to making progress year after year.
What this means for you
- We're committed to making sure your savings are invested responsibly
- Our operations are reducing emissions and environmental impact
- We’re committed to being a stable, future-focused partner
- We support the people and communities around us
Solvency II reports
View Solvency II reports and financial condition disclosures, covering governance, risk profile, valuation methods, and capital management for UK entities.
Vendor code of conduct
The Vendor Code of Conduct contains the standards for the business relationship between Aegon and its vendors.
Global tax policy
The Aegon UK tax strategy adopts the Aegon Global Tax Policy and Principles of Conduct, which is published on the Aegon Limited website, adapted for specific UK reporting requirements.
Previous TCFD reports
FAQs
For us, sustainability is about doing the right thing for our customers, our people and the world we share. It means thinking long‑term, acting responsibly and making thoughtful choices that can support a fairer, healthier future.
We bring this to life in three main ways.
Clear goals and accountability
- Sustainability committees and working groups help guide and review our progress.
- We set measurable targets, such as our ambition to reduce office scope 1 & 2 CO2 emissions by around 77% by 2029 and to reach net-zero greenhouse gas emissions for our pension default range by 2050.1
- We work towards recognised standards, including ISO 9001, ISO 50001 and ISO 14001.
Smart systems and open reporting
- Tools such as the Envizi platform help us track energy use, waste and carbon.
- We report on our progress, including climate‑related disclosures aligned to TCFD.
Everyday action
- Across our UK offices, we use electricity backed by renewable certificates and work to divert waste away from landfill wherever possible.
- Tree‑planting through initiatives such as the Aegon Future Forest.
- Prioritising inclusivity, wellbeing and ensuring our team feels valued, engaged and that they belong.
- Encouraging responsible practices across our suppliers and partners.
1 Measured using carbon footprint across our full range of default funds. Emission targets don’t apply to individual funds.
Over the next 12 months, we’re focused on three key areas.
1. Cutting carbon and improving energy efficiency
- Continuing to reduce emissions across our offices.
- Making use of renewable energy and smarter building systems.
- Reducing the carbon footprint of our key default funds and investing more in climate solutions.
2. Reducing waste
- Working towards zero waste to landfill across our main offices.
- Investing in reuse and clearer, more accurate recycling.
3. Supporting colleagues and tenants
- Improving wellbeing facilities.
- Strengthening ESG reporting.
- Making sustainability easier to understand and engage with across our workplaces.
We’re working towards net‑zero emissions across our UK operations by 2050.
So far, we’ve:
- Reduced our office-based emissions by around 62% since 2019
- Moved UK offices to electricity backed by renewable certificates
- Reduced travel‑related emissions by approximately 50%
- Continued to invest in efficiency across buildings, waste and travel
There’s more to do, and we’re open about that, but we’re focused on moving forward in a considered and practical way.
We want Aegon to be a place where everyone can feel welcome, valued and supported to grow. Our approach combines practical support, fair policies and clear accountability.
How we support colleagues
- Menopause Friendly accredited, Disability Confident Employer and accredited LGBTQ+ inclusive workplace.
- Flexible working options and enhanced parental leave, including six weeks of fully paid paternity leave.
- A wide range of wellbeing support and health resources.
- Inclusive candidate and colleague journeys, such as our hiring practices and talent programmes.
- 11 active colleague led networks covering disability inclusion, LGBTQ+, race and cultural diversity, neurodiversity, social inclusion and more.
How we measure progress
- Gender representation targets, with an ambition to reach 50% women in our senior leadership population by 2030.3
- Regular reporting and review with senior leadership.
- Colleague pulse surveys focused on inclusion.
- A sustainability roadmap to track longer‑term commitments.
How this shapes our culture
- Prioritising health, safety and wellbeing.
- Supporting fair pay through Living Wage accreditation.
- Supporting different working needs.
- Encouraging ethical standards across our supply chain.
We’re always happy to share what we’ve learned.
- Our specialists can run sessions, join discussions or explain how we approach responsible investment, waste reduction and supply‑chain sustainability.
- We offer online resources to help employers, advisers and members better understand responsible investment in practical terms.
- We offer a range of funds that consider ESG factors, so customers can choose a fund that aligns to their beliefs.
- We've committed to net-zero greenhouse gas emissions for our pension default fund range by 2050, and to a 50% reduction in emissions by 2030.
Our aim is to help people and organisations feel more confident taking steps that make sense for them and their longer‑term goals.
Sustainability isn’t something managed by one team. We want all colleagues to have access to learning that helps them feel confident playing their part.
We offer:
- Practical training, such as how to sort waste correctly
- Annual learning modules covering energy, health and safety and environmental awareness
- Self‑paced resources through our WeLearn platform
Our focus is on keeping sustainability simple, relevant and part of everyday working life.
Our executive committee is accountable for delivering our inclusion and equity strategy, supported by:
- An inclusion, equity and diversity leadership committee.
- Senior leaders who sponsor our employee networks.
- Clear gender representation targets at senior leadership level.
Our ambition is for women to hold around 50% of senior roles by 2030, with progress reviewed and tracked quarterly. As at end 2025, 41.4% of senior roles were held by women.3
Money:Mindshift is our financial wellbeing programme, designed to help you feel calmer, more confident and more in control of your money.
It offers:
- Easy, practical tools that support everyday money decisions
- Friendly guidance on budgeting, planning and saving
- Support for building positive habits over time
- Content tailored to different life stages
As many of us plan for longer lives, Money:Mindshift helps connect financial confidence with the wider picture, including the kind of future and world we want to live in.