The hopes & ambitions of AXA as they head to Glasgow
For 15 days, the world will be following intergovernmental, business led and civil society discussions aimed at limiting global warming to 1.5°C by 2050.
Given our longstanding commitment to fight climate change, AXA could not miss this important gathering. But we have not waited for COP26 to constantly strengthen our engagements. Here are a few of the new commitments we have taken in the past 18 months:
#Forest policy: deforestation is one of the main causes of biodiversity loss. It even represents a double loss for climate because forests are one of the biggest contributors to carbon capture. AXA financially supports sustainable forest management and reforestation projects and has committed an additional 1,5bn € investments in forests.
#Oceanrisk: the ocean is the largest reservoir of biodiversity. AXA is a signatory to the #BackBlue Ocean Finance (ORRAA) commitment, which aims to mobilize action to build resilience.
Joining the Taskforce on Nature-related Financial Disclosures #TNFD: AXA continues its commitment to the preservation of biodiversity by working, as a founding member of TNFD, to identify and analyze economic activities having a direct and indirect material impact on biodiversity. TNFD is on the model of the Taskforce on Climate-related Financial Disclosures #TFCD, working group in which AXA also participates to improve the financial transparency of companies on the climate.
Extending our Oil and Gas exclusions to support the #energy transition:
A few days ago, AXA announced a new step in its climate strategy with a more stringent oil and gas policy both on the investment and underwriting side, with a particular focus on limiting our support to greenfield and unconventional activities.
Pursuing our efforts towards #Carbonneutrality:
Beyond these new measures, we continue to actively participate in the Net-Zero Asset Owner Alliance #NZAOA, Net-Zero Insurance Alliance #NZIA and the Net Zero Asset Management Initiative #NZAMI.
We have found that these UN-backed coalitions are critical to make progress on effective tools, methodologies and measurements for the financial industry. Thanks to the Glasgow Financial Alliance for Net-Zero #GFANZ led by Mark Carney, COP26 will provide the opportunity for these coalitions to take stock of the progress made but also on the need to accelerate our journey with concrete, ambitious and measurable targets.
Engaging and upskilling our employees in the fight against climate change:
In line with our strategic priorities and the AXA for Progress Index, we have launched the AXA #ClimateAcademy - designed by internal and external experts and reviewed by an entity sounding board. Indeed, by 2023, we aim to train 100% of our employees in climate issues.
As COP26 is beginning, it is impossible to know whether we will walk away more confident and optimistic or disappointed and discouraged. But it will for sure be a moment to join forces and to share and learn from others.
#ProtectWhatMatters #TogetherForOurPlanet
Ulrike Decoene
Group Chief Communications, Brand & Sustainability Officer @AXA | Board member Financial Alliance for Women | UNEP- FI European insurance
