Aviva Donates £10 Million to Support Carbon Removal Projects
UK-based insurance, wealth & retirement company Aviva announced today a £10 million to woodland conservation organization Woodland Trust, aimed at supporting the delivery of nature-based carbon removal projects, and contributing to Aviva’s sustainability goals.
With the new donation, Aviva will partner with Woodland Trust on its Woodland Carbon Scheme, which aims to deliver carbon removal and biodiversity improvements through woodland creation and peatland restoration.
Darren Moorcroft, CEO at the Woodland Trust, said:
“Aviva’s investment in nature-based solutions in the UK is a very welcome and significant act which will deliver for people and wildlife, contributing to tackling the nature and climate crisis in parallel. We are delighted that Aviva shares our philosophy of the right tree in the right place which is a vital component in ensuring we build landscape resilience, as well as protecting our woodland species which are tragically in decline.”
The donation will support projects including at Woodland Trust’s “Hero” sites, which include a project sequestering carbon from woodland creation at Snaizeholme, and through peat bog restoration at Smithills, Lancashire, and a project creating new woodland for wildlife at Green Farm, Norfolk.
Aviva said that the donation will enable an estimated 330,000 tonnes of carbon to be stored over 100 years, contributing to the company’s goal to be net zero by 2040, and forming part of its commitment to allocate £100 million to remove carbon from the atmosphere using nature-based solutions.
Claudine Blamey, Aviva Group Sustainability Director, said:
“Both Aviva and the Woodland Trust are focused on a better future for our planet, people and biodiversity. Climate change and biodiversity loss are interdependent issues and crucial to the long-term sustainability of our planet. That is why we are delighted to partner with the Woodland Trust on this project, helping make the UK the most climate-ready large economy.”