AXA releases latest climate report

AXA releases latest climate report | Insurance Business

AXA releases latest climate report

AXA has announced the publication of its sixth climate report. The report fulfills legal requirements for non-financial reporting, as well as the voluntary approach of the Task Force on Climate-related Financial Disclosures (TFCD), which AXA has supported since its inception.

The report describes AXA’s responsible investment and insurance initiatives related to climate change. It also measures the company’s progress in its goal to reach the objectives of the Paris Agreement.

Among other things, the report highlights the “warming potential” methodology, which measures the impact of AXA’s investments on global warming by 2050. This year, that impact stands at 2.7°C, significantly below the broader market’s warming potential of 3.2°C.

“This indicator is key for AXA, which is committed to limiting the warming potential of its investments to 1.5°C by 2050,” the company said.

The report also showed that the green share of AXA’s portfolios is increasing, driven largely by the €25 billion in green investments planned by 2023. The report also found that the carbon footprint of AXA’s investments is declining, in line with the 20% reduction target for 2025 set by the company’s strategic plan.

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“A decisive decade begins the fight against climate change,” said Thomas Buberl, CEO of AXA. “Our climate report is an essential tool for measuring the effectiveness of our strategy and the distance we still have to go to meet the Paris Agreement targets by 2050. There is still a long way ahead. We must all commit to accelerating the transition to lower carbon and more resilient economies. AXA is determined to play its part.”