Remove

Removing CO₂, through methods like afforestation and carbon capture, is important because it addresses the accumulated GHG emissions already in the atmosphere. After all, even if all new emissions were stopped today, the existing concentration of CO₂ would continue to impact the climate system.

Glen Forsa

28,000 tonnes of carbon sequestration by 2040

Through investments in forestry, we believe we can provide a tangible and measurable path to achieve net zero ambitions for our clients. Tree planting is an important component of the UK Government’s strategy for achieving Net Zero and advancing environmental objectives for biodiversity and nature recovery. The UK Government has set a nationwide target of creating 30,000 hectares of new woodland annually however, current tree planting rates are well below this target with rates less than half of the required hectares per year.

In 2023, we acquired Glen Forsa on behalf of the Aviva Investors Climate Transition Real Assets Fund. Glen Forsa is a 1,580-hectare site located on the Isle of Mull, in Scotland, and is the Fund's second investment into forestry. We will complete a bio-diverse planting of trees across the site. To ensure transparency and effectiveness, the carbon credits we generate will be verified by the Woodland Carbon Code.

These credits will be key to removing emissions from the atmosphere and delivering on our net zero 2040 target. The expansion of our forestry investments will support both Scottish and UK forestry targets while demonstrating our commitment to climate change mitigation and biodiversity preservation. We are projected to sequester 28,000 tonnes of carbon by 2040, with 226,000 tonnes sequestered in total over the next 100 years, based on internal calculations made in line with the UK Woodland Carbon Code. Biodiverse tree planting not only contributes to carbon sequestration but also enhances the ecological diversity and resilience of the site.

Glen Dye

280k tonnes by 2040 and 1.4m through the life

Glen Dye Moor, a 6,300-hectare site in the Scottish Highlands, offers Aviva Investors a unique opportunity to rejuvenate the land, sequester carbon, and deliver financial and social benefits. Acquired in December 2021, our long-term goals for this landscape include using nature-based solutions such as tree planting and peatland restoration to meet climate targets and generate financial returns from productive forestry. This project will also enhance local knowledge and skills in forestry and conservation, improve public access trails, and upgrade site facilities.

We aim to plant around five million trees, including 2,000 hectares of native mixed woodland and up to 1,000 hectares of productive conifers for commercial forestry. Initially, the site will emit carbon due to soil disruption, but by year 13, it should become a significant carbon sink as the soil stabilises and trees absorb more carbon dioxide through photosynthesis.

Our planting and phasing are guided by Scottish Forestry, ensuring adherence to the Woodland Carbon Code (WCC).

Peatlands, which are more effective at locking up carbon than trees, have been degraded by human activity. Our goal is to restore 1,800 hectares of peatland, reducing emissions by stabilising the ecosystem. We will create dams, block drains, and layer healthy peat over dried vegetation to prevent erosion and support moisture-loving species like sphagnum moss.

This initiative aligns with the fund’s objective to achieving net zero by 2040, creating future-proofed assets while enhancing the environment.