Aviva pledges ?50m to green VC funds

UK insurer Aviva has made a commitment to invest ?50m into venture capital funds focused on emerging technology which supports a more sustainable future.

The commitment follows Aviva announcement earlier this year to become a Net Zero carbon emissions company by 2040.

Aviva said the new investments into funds with a specific sustainability focus will directly support its strategic ambition to contribute to a sustainable economic recovery.

The first investment is into the Clean Growth Fund. Launched in 2020, the Clean Growth Fund invests in promising early-stage UK clean technology companies, with products and services focussed on driving clean growth in the low carbon economy. It aims to accelerate the commercialisation of clean growth technologies, create new employment opportunities across the UK and contribute to the UK efforts to deliver net zero by 2050.

Ben Luckett, chief innovation Officer at Aviva, said, ?Weve seen strong growth in sustainability focused start-ups as consumers become more climate conscious.? Our investments will help build upon our knowledge of this space and enable us to continue meeting our customers changing needs.

?We are excited to work with the Clean Growth Fund, an organisation which will help accelerate the UK transition to net zero through responsible investment in early-stage green technologies.p>

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