Aviva Investors Challenges Global Stock Exchanges to Take Action on Corporate Responsibility

LONDON--(Business Wire)--
Aviva Investors, the global asset management business of Aviva plc, has called
on stock exchanges around the globe to more actively promote corporate
responsibility and transparency among the companies that are listed on
exchanges.

Speaking today at a major UN Conference* in New York - supported by UN Secretary
General Ban Ki-moon and entitled `Sustainable Stock Exchanges` - Aviva Investors
London CEO Paul Abberley said that the conference hoped to galvanise concrete
commitments from international stock exchanges and their listing authorities to
work toward codifying how they could promote more responsible business.

Mr. Abberley said, "Our main focus is on promoting a global listing environment
that requires companies to consider how responsible and sustainable their
business model is, and also encourages them to put a forward-looking
sustainability strategy to the vote at their AGM**."

At the UN conference, Mr. Abberley also announced a number of further
responsible investor-focused initiatives that are designed to educate stock
exchanges and the investment community on enacting sustainable business
practices. These are:

1
Analysis from Goldman Sachs Global Investment Research highlighting
why sustainability data forms a material part of an overall investment
decision, what key metrics they look for, and the nature of the
problems they have in sourcing this data;
2
Analysis from CA Cheuvreux examining the business case for stock
exchanges to update their listing codes, as well as how well prepared
specific exchanges are for this agenda.
3
In collaboration with Maplecroft, a Sustainability Performance
Benchmark based on the United Nations Global Compact, which following
consultation will be available for use by mainstream analysts and
civil society researchers;
4
In collaboration with EIRIS, a voting and engagement service that
provides investors with recommendations on how to promote enhanced
Corporate Responsibility via their voting.

Mr. Abberley added, "This conference is a direct outcome of Aviva Investors`
global CEO, Alain Dromer, calling for a debate on how stock market listing
authorities could help promote increased corporate transparency in November last
year. Aviva Investors has been using its vote on the Report and Accounts at
company Annual General Meetings to promote better corporate responsibility
information disclosure in the companies in which we invest since 2001.

"However, we have generally lacked the support of Listing Authorities who play a
crucial role in setting out what companies report to the market. Direct
opportunities to vote at company AGMs on corporate responsibility reports are
almost unheard of. I am strongly of the view that amending specific market
listing codes in this way has the potential to make capital markets
substantially more sustainable. We will continue to work with other likeminded
institutions toward this end."

Notes to Editors

* The conference is convened by the United Nations Global Compact, the United
Nations Conference on Trade and Development, and the Principles for Responsible
Investment. For more information on the conference, go to
www.unpri.org/sustainablestockexchanges09.

** The main purpose of the proposed corporate responsibility reporting
requirement - and the associated AGM vote - is to create the right kind of
discussions within the boardrooms of listed companies around the world, and then
between the company and its shareholders. The proposal suggests the UN Global
Compact as an appropriate framework for boards to consider, and that reporting
be conducted on a "comply or explain" basis. The three key components to the
mechanics of the AGM vote itself are: (i) the report would be published in its
entirety or summarized in the Report and Accounts; (ii) the vote would be
advisory; and, (iii) shareholders will be asked to approve the report.

Aviva Investors

Aviva Investors is the global asset management business operated by affiliates
of Aviva plc, the world`s fifth-largest insurance group.1 The affiliates operate
under a single brand with more than 1,300 employees in 15 countries across Asia
Pacific, Europe, the UK and North America.

Aviva Investors affiliates manage more than $362 billion worldwide.2

No Aviva Investors affiliate is engaging in or holding itself out as engaging in
the business of advising others as to investing in securities or the business of
buying or selling securities in any jurisdiction where it is not qualified to do
so.

1 - As of December 31, 2008

2 - As of June 30, 2009

Aviva Investors Corporate Affairs
Angela Warburton, +44 (0)20 7809 8618
angela.warburton@avivainvestors.com
or
Financial Dynamics
Andrew Waterworth, +44 20 7269 7127 / +44 7771 740 484
andrew.waterworth@fd.com

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