How ethical and sustainable is Aegon?
The Good Shopping Guide’s Ethical Pensions Ratings Table includes Aegon. Aegon has yet to achieve our ethical criteria, but we believe that the brand will make the necessary changes in the future to operate as a more ethical organisation. Aegon might boost customer trust by applying for Ethical Accreditation, which would entail a more thorough investigation as well as recommendations for ethical development.
More information on the necessity of ethical pension providers may be found in The Good Shopping Guide to Ethical Pension Companies. Then, in our Ethical Pension Rating Table, compare it to other Pension providers.
What does Aegon do?
Aegon, a part of the Aegon group is an international provider of life insurance, pensions and asset management. The brand started in 1831 as Scottish Equitable and in 1998 Aegon N.V. increased their stake to 100%, rebranding to Aegon in 2009. The brand launched Retiready a pension provider allowing people to take control of their own pension planning.
For which criteria does Aegon perform poorly?
Aegon received a low rating for Environmental Destruction, Irresponsible Lending and Political Donations.
Aegon has over £10 million of bonds in multiple environmentally destructive companies which you can read about here and Aegon was also criticised in the past for investing in polluting tar sand companies.
In terms of Irresponsible Lending, the brand was criticised for contributing millions in bonds or underwriting to nuclear weapon companies.
The brand also donated over $1.8 million in recent political election cycles in the United States.
The brand also received a middle rating for its Responsible Investment Policy as its policy mentions the integration of the ESG factors but does not have sufficiently robust restrictions on controversial investments.
Past Criticisms of Aegon’s ethical record
Aegon faced criticism after a report by Facing Finance revealed that despite its membership to Climate Action 100+ and the Institutional Investors Group on climate change, Aegon opposes the EU tax for polluting activities.
In what areas does Aegon score well for its ethics?
Aegon receives a high score for its Environmental Report and its Carbon Disclosure & Reduction Targets. The pension provider has an annual report outlining various carbon reduction targets, which includes a target to become Net Zero. Scope 1, 2 and 3 emissions are also disclosed in the report. Aegon also signed the Paris Pledge in 2015.
How can Aegon improve its ethical rating?
The Ethical Rating of a brand is divided into three categories by The Good Shopping Guide: People, Animals and the Environment.
Aegon might apply for Ethical Accreditation at our Application page for more detailed guidance on how to improve and become the best pensions provider.
Aegon may improve its rating and fulfil our fundamental ethical requirements by assessing its donations policy and ensuring that the brand only donates to companies that follow an ethical standard.
Why not check out The Good Shopping Guide’s Ethical Accreditation for your brand or company? This certification of sustainability and ethics has benefited the Pension provider Aviva, and includes the prestige of using our Ethical Mark, independent verification of ethical marketing statements and advice and guidance on the future of your CSR and sustainability policies. Get in touch or apply for Ethical Accreditation to begin the process.
Contact us to learn more, or complete our short form for an initial evaluation.
Ethical performance in category
GSG category benchmark
Carbon Disclosure & Reduction Targets
Responsible Investment Policy
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