For a second year running, Aviva Investors has won the stewardship initiative of the year, for its commitment to tackling climate change.

In particular, the asset manager was rewarded for its focus on the 30 largest emitters in its portfolio and giving them timebound targets, as well it efforts to engage on the sovereign debt portfolio.

Aviva Investors launched its Climate Engagement Escalation Programme in February 2021. Under the programme, 30 systemically important carbon emitters from the oil and gas, mining and utilities sectors that together contribute towards nearly a third of global carbon emissions are targeted for engagement.

Since inception, Aviva Investors has conducted 200 engagements and observed 200 wins across its asks. It defines an engagement win as when a company changes its practices in line with the asset manager's asks. Aviva Investors said: "While we would never claim that all these wins are exclusively because of what we did, we are delighted to see that change is happening in line with our expectations."

In March 2021, Aviva Investors launched its Sovereign Climate Engagement Programme, under which its CEO wrote to finance ministers and central bank governors in 21 countries in which the asset manager holds sovereign investments, asking for action on climate change. Since launch, Aviva Investors said it received responses from G7 and G20 countries and from within the BRICS.