In its annual letter to 1,500 companies in 30 countries including the UK, Aviva Investors urged companies to develop their own biodiversity action plans, publicly state their commitment to human rights. Aviva Investors, which manages £262bn in assets, and is a big shareholder in many leading companies, said its strong message was part of efforts to create a more sustainable, inclusive and low-carbon future.

“We acknowledge the magnitude of many of these challenges and will evaluate companies on the strength of their commitments and their ability to demonstrate progress over time,” the asset manager said. “However, we will hold boards and individual directors accountable where the pace of change does not reflect the urgency required.”

The Aviva Investors chief executive, Mark Versey, said that this year’s stewardship priorities were meant to “encourage companies to consider the whole picture of sustainability because this is how they will create the greatest return for shareholders, while helping to build a better future for society”.

In terms of climate commitments, Aviva Investors said all companies should be developing credible climate transition plans and work towards having them officially verified by the science-based targets initiative.