Aviva Investors operates a firm-wide “Baseline Exclusions Policy” (‘the Policy’), which applies to both active and passive portfolios and funds managed by Aviva Investors (inlcuding those where portfolio management is outsourced to a third party. The previously prohibited investment in Controversial Weapons firm-wide, but from February 2020 has been extended to include the prohibition of investment in Civilian Firearms. The Policy applies to all subsidiaries of Aviva Investors Holdings Limited (subject to their approval). It also applies to Aviva Investors France , Aviva Investors Real Estate France and their subsidiaries (subject to their approval).
The policy ensure that Aviva Investors does not make investments associated with companies which derive prescribed levels of revenue from the manufacture of Controversial Weapons and Civilian Firearms.
Controversial Weapons are those that have been subject to widespread ban or restriction by International Treaties and Conventions, on the basis they have one or more of the following characteristics:
- The weapon is indiscriminate, i.e. there is an increased risk of civilian casualties;
- The weapon can be classified as a weapon of mass destruction with a single use resulting in a large number of deaths;
- The weapon is considered to be excessively injurious, i.e. it causes an inordinate amount of pain and suffering; and/or
- The weapon may have long term health impacts on the populations in areas where they are used.
We define Civilian Firearms as firearms and small arms ammunitions designed for civilian use, excluding products exclusively sold for the military, government, and law enforcement markets. Aviva Investors has chosen to limit investment in manufacturers of Civilian Firearms, due to the large number of civilian deaths resulting from their use.