AXA XL has announced the launch of a carbon management strategy aimed at accelerating the company’s contribution to a more sustainable and less carbon-intensive economy by 2050.
The strategy aligns with AXA Group’s goals and the objectives of the Paris Agreement on climate change. It outlines AXA XL’s commitment to decarbonize its operations in order to reach the goal of limiting global warming to below 1.5 degrees Celsius.
“We’re in the business of building a more resilient planet, and it’s no secret that a changing climate and its impacts on the environment presents our industry with a range of challenges and potential opportunities. But effective corporate responsibility actions must start with getting our own house in order, doing everything we can to save energy, reduce waste and enable all of our colleagues to adopt greener working behaviours,” said Scott Gunter, CEO of AXA XL. “As a leading global insurer, our role must be to make sure we are doing everything we can to make our clients, and our communities, better equipped for a potentially warming world.”
The carbon management plan is a central focus of AXA XL’s strategy focusing on climate change, access to water and financial resilience, the company said.
AXA XL said that it had identified the “key levers” to help decarbonize its operational impact. The company identified three areas as vital to working toward the goal of limiting global warming to below 1.5 degrees Celsius: energy consumption, people movement (travel and vehicle fleet), and resources consumed. Within each area, AXA XL has established targets including a 25% reduction of greenhouse gas emissions.