SYMCA AND AVIVA CAPITAL PARTNERS ANNOUNCE STRATEGIC PARTNERSHIP TO DRIVE ECONOMIC GROWTH IN SOUTH YORKSHIRE
Published 10 October 2023 at 10:00am
South Yorkshire Mayoral Combined Authority (SYMCA) and Aviva Capital Partners Limited have announced the signing of a Memorandum of Understanding to forge a strategic partnership aimed at fostering innovation, economic growth and housing development in South Yorkshire. This landmark collaboration signifies a pivotal step towards realising SYMCA's vision of a stronger, fairer, and greener economy for the region.
The agreement reflects the commitment of both parties to capitalise on the vast potential of South Yorkshire, building on Aviva's expertise and experience to support SYMCA's pursuit of private investment for sustainable economic development. This partnership, supported by the four Local Authorities in Barnsley, Doncaster, Rotherham, and Sheffield, seeks to drive positive outcomes for the local economy and communities.
As a leading institution in the region, with 1,800 people based in Sheffield, Aviva will work closely with SYMCA to unlock private investment in South Yorkshire that aligns with the Authority's objectives.
This is the latest commitment from Aviva Capital Partners, Aviva’s in-house investment unit which originates regeneration, housing and infrastructure assets using Aviva group capital to make places and communities more prosperous, inclusive and sustainable.
John Cummins, CEO of Aviva Capital Partners, said: “Aviva has a strong presence in South Yorkshire and is committed to boost the economy of the region through this new partnership with SYMCA. We’re looking forward to fostering sustainable economic growth, infrastructure and housing through private investment.”
South Yorkshire boasts sector strengths in advanced manufacturing, health and life sciences, aerospace and defence technologies, and clean energy innovations like hydrogen and nuclear fusion. The region also benefits from a cooperative public sector, research institutions, and a workforce transitioning to meet new sector opportunities.
South Yorkshire’s Mayor Oliver Coppard said: “The ongoing transformation and regeneration of cities and towns in South Yorkshire, along with the region's rich cultural and industrial heritage, present numerous opportunities for increased private investment in our region.
“Working closely with Aviva, I am looking forward to the opportunities that this relationship will bring about for South Yorkshire as we accelerate the growth of new businesses, foster innovation, and promote modern construction methods for residential development.”
“Our housing vision for South Yorkshire emphasises the availability of quality, affordable, and sustainable housing that contributes to a net-zero economy.”
“With a need for approximately 5,000 new homes annually, including 2,000 affordable homes, this is the start of a collaborative approach that will address the needs for the residents of South Yorkshire who deserve access to safe, affordable housing for themselves and their families.”
About Aviva Capital Partners
• Aviva Capital Partners (ACP) is Aviva’s new in-house capital unit that will utilise the company’s financial strength to invest in a range of regeneration, housing and infrastructure projects and deliver returns for our retirement customers.
• ACP will take on a broader spectrum of risks where our equity can unlock larger scale assets.
• For more details on ACP, visit Aviva Capital Partners.
About Aviva plc
• We are one of the UK’s leading Insurance, Wealth & Retirement businesses and we operate in the UK, Ireland and Canada. We also have international investments in India and China.
• We help our 18.7 million customers make the most out of life, plan for the future, and have the confidence that if things go wrong we’ll be there to put it right.
• We have been taking care of people for more than 325 years, in line with our purpose of being ‘with you today, for a better tomorrow’. In 2022, we paid £23.2 billion in claims and benefits to our customers.
• Aviva is a market leader in sustainability. In 2021, we announced our ambition to become Net Zero by 2040, the first major insurance company in the world to do so. This plan means Net Zero carbon emissions from our investments by 2040; setting out a clear pathway to get there with a cut of 25% in the carbon intensity of our investments by 2025 and of 60% by 2030; and Net Zero carbon emissions from our own operations and supply chain by 2030. Find out more about our climate goals at www.aviva.com/climate-goals and our sustainability ambition and action at www.aviva.com/sustainability
• While we are working towards our sustainability ambitions, we acknowledge that we have relationships with businesses and existing assets that may be associated with significant emissions. More information can be found at www.aviva.com/sustainability/climate
• Aviva is a Living Wage, Living Pensions and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at www.aviva.com/about-us/our-people/
• As at 30 June 2023, total Group assets under management at Aviva Group were £358 billion and our estimated Solvency II shareholder capital surplus was £7.8 billion. Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
• For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us
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