AEGON N.V. Following the implementation of its updated Responsible Investment Policy, Aegon will cease investing in companies that derive 5% or more of their total oil equivalent production from oil sands, down from a previous threshold of 30%. Aegon already excludes companies that build or operate pipelines that significantly facilitate the export of oil extracted from oil sands.
Aegon will also stop investing in companies that derive 5% or more of their revenue from oil and gas exploration and production in the Arctic.
Furthermore, Aegon will exclude companies that derive more than 25% of their revenues from the exploration, mining, and refining of thermal coal. The lowering of the previous threshold of 30% is in line with Aegon's commitment to lower the revenue threshold in steps to 5% or below in 2029.
Aegon already excludes companies that own more than 10 gigawatts of coal-fired electricity generation capacity and have plans to extend their capacity. Furthermore, Aegon continues not to invest in companies that produce more than 20 million tonnes of thermal coal annually and are expanding their coal-related operations. This is regardless of the company's total revenues.
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AEGON NV published this content on 21 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2022 11:01:04 UTC.
