By Tom Espiner
Business reporter.
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The board directors of firms that continue to take part in rainforest destruction will be removed.
A major UK investment fund will vote to try to get directors kicked out of firms that fail to make good on environmental pledges.
The pay of bosses should be linked to the goals of the company.
It is the latest investment firm to make corporations clean up their act.
The world's largest fund told firms it invests in to step up on sustainable practices or face consequences.
In a letter that will be sent to 1,500 firms in 30 countries this week, Aviva Investors set out its expectations.
The fund said it had expanded its definition of sustainable and would now focus on issues such as human rights, climate change and executive pay.
"We will hold boards and individual directors accountable where the pace of change does not reflect the urgency required," said the annual letter from Mark Versey.
Between 1970 and 2016 there was a 68% decrease in the number of animal and plant species.
"This is of serious concern as the services provided by the natural world underpin our economies and societies and will increasingly become an important driver of company valuations," Mr Versey said.
Companies are expected to scrutinize the impact they have when doing business and to take action to stop harm when it comes to human rights.
Firms will need to give more detailed explanations of how they intend to meet environmental goals.
Some companies set vague targets to avoid being held to account, according to the head of environmental, social and corporate governance at the insurer.
He said that Aviva would use its vote as a shareholder to try to oust directors at firms that had a high impact on the planet but did little to remedy this.
The fund could withdraw its investment if it votes against executive pay deals.
Mr Baig said that 280 firms changed their practices last year. He urged investment firms to use their loud and influential voices to drive change.
The world would look different if there was enough pressure on businesses.
Firms are being leaned on by big investment funds to change the way they do business.
The chief executive of the world's biggest investment fund denied last week that his firm was being hypocritical in calling for stronger climate policies from companies.
At a time when the public expects companies to behave ethically, he said the move made good business sense.
He said that the fair pursuit of profit was still the most important factor in markets, and that long-term profitability was the most important factor in determining a company's success.
They are companies.
There is a person named Aviva.
Climate change.
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