BUSINESSES AND INDIVIDUALS NEED LONG TERM PLANS

GROUP CHIEF EXECUTIVE, AVIVA

AS INSURERS, we’re here to help secure our customers’ financial futures and we understand the responsibility that comes with that. Ours is a long term business. We have to be there for our customers throughout their lifetimes, and beyond. So inevitably the sustainability of our business is a key priority for us.

Recent history tells us that businesses can no longer look at cashing in on short-term financial rewards without keeping an eye on their long-term impact. We have been fortunate to be a business that has always had to take a long-term perspective, and while we operate in the interest of our shareholders for whom we must drive value we also have a duty to our customers and more broadly society. We have to address issues around the significant level of under-provision for retirement and our society’s relationship with money because these things directly affect our business.

We are looking at new ways through which we can better engage consumers to take greater personal responsibility for their financial security. We are also going to be more vocal about creating and maintaining better environments for long-term businesses whether that’s corporate governance, financial reporting or regulation. This is a global challenge: and to that end we are very proud to be supporting the UN’s Global Compact LEAD initiative, which Secretary General Ban Ki-Moon launches this week in Davos. I’ll be speaking on the need for investors, regulators and companies to work together to enhance performance on environmental, social and corporate governance issues.

The responsibility for all of this is shared between governments, business and individuals, we all have a role to play. I hope at Davos we can broaden what “sustainability” really means and discuss the responsibilities on all of our shoulders in ensuring future prosperity.


Davos tweets ...

@flacqua 7.51pm
“Great Davos moment. Trichet taking a wrong left turn and walking into press room. Then realising he didn't want to get assailed so ran out”

@tim_weber 7.50pm
Russian President Medvedev on #davos stage seems to star in a commercial for Apple's iPad. Talking about his web habits, he waves one about

@dtapscott 5.51pm
“@Davos. A big challenge in #Davos is managing to get to the right place on time. But it's worth the effort. #WEF http://ht.ly/3KCvl”

@felixsalmon 6.55pm
“Thanks @black_von for giving me a shove and waking me up. I was literally nodding off there. #Medvedev #wef”