É«¶à¶àÊÓƵ

Our goals:

Our actions so far:

Reducing our carbon footprint

In September 2020, we launched our five-year Carbon Reduction Strategy setting out targets to reduce our direct environmental impact over the next five years by 25%. The strategy outlines: our ambition to reduce overall carbon emissions, the targets set to drive progress towards that ambition, and the decarbonisation roadmap that we will follow. The infographic below summarises our ambitions.

By 2026 we will be publishing our net zero roadmap, with revised carbon reduction targets.

Encouraging green behaviours

É«¶à¶àÊÓƵmanage a network of Green Committees across our offices to support and encourage colleagues' environmentally friendly behaviour, and awareness of environmental issues.

Driving towards net zero

Underwriting Restrictions

Across AXA Group, we believe we can influence climate mitigation and adaptation through our underwriting practices and products; namely by restricting coverage for carbon-intensive industries and by developing new products that support “greener” practices

Our energy policy includes the following:

Firstly, AXA will stop investing in and underwriting new upstream oil greenfield exploration projects unless they are carried out by companies with the most far-reaching and credible transition plans.

Secondly, AXA will significantly reduce its investment and insurance exposure to unconventional exploration and production from its business

In addition, AXA’s coal underwriting restrictions apply to power generation and mining clients developing new coal capacity or with significant coal business, as well as coal industry partners, defined as manufacturers (e.g. equipment suppliers) and infrastructure players (e.g. port terminals, dedicated railways) operating or developing coal assets, or standalone coal-related infrastructure assets.

In addition, AXA is committed to a long-term exit strategy reducing exposure to the thermal coal industry to zero by 2030 in the European Union and OECD (Organisation for Economic Co-operation and Development) countries, and by 2040 in the rest of the world.

Alongside our energy policy we also have underwriting and investment policies focused on curbing deforestation and protecting Natural World Heritage Sites.

More information on these policies can be found in our 2021 Sustainability report

Sharing societal-led climate solutions

Investing in community disaster management

É«¶à¶àÊÓƵunderstands the importance of building resilience to natural disasters and is committed to doing our part to help support vulnerable communities at risk of disasters.

To do this, É«¶à¶àÊÓƵsupports nonprofit organizations focused on reducing the impacts of these natural, and sometimes man-made, large-scale disasters. We support projects across the disaster management cycle, from preparedness to relief and long-term recovery.

Preparedness:
The nature of AXA XL’s business is to help clients prepare for and mitigate risk, and we believe we can do the same for at-risk communities.

Since 2019, disaster preparedness charity RedR UK has been offering an innovative training program on Climate Change Adaptation and Disaster Risk Reduction (CCADRR) in climate-vulnerable countries with funding from AXA XL. The participants are from NGOs, governments, private organisations and community-based organisations, which are on the frontlines for disaster management.

In 2021, 113 participants from the Philippines, Bangladesh and East Africa received the six-week course which aims to equip participants with the knowledge and skills to respond to – and advocate for – improved action around climate change adaptation and disaster risk reduction. In 2021 RedR UK also developed and delivered a series of shorter, advanced modules to build skills in specific areas such as climate risk assessments and ecosystem-based adaptation. A total of 214 participants completed the advanced topics. The programs received consistently positive feedback with over 99% of participants rating the course ‘excellent’ or ‘good’.

We have continued to see a big impact of the program, with participants putting their new knowledge and skills into practice, from mapping climate hazards in the Philippines to natural resource management in South Sudan. Advocacy and ensuring the cascading of participants’ knowledge continue to be important elements of the project, with participants encouraged to share their learning with their communities and colleagues. Many kept in touch with RedR UK and each other after the end of their course, participating in a knowledge sharing forum, impact workshop, case studies and surveys. As a result of this wider dissemination, RedR UK estimate that a total of 7138 people were reached indirectly during 2021.

Relief:
É«¶à¶àÊÓƵsupports disaster relief efforts for natural disasters and certain large scale humanitarian crises. We respond where there is an urgent call for swift international humanitarian assistance. Our disaster relief nonprofit partners are the American Red Cross and Save the Children (UK). Both organisations aim to alleviate human suffering in the face of emergencies by providing care, shelter, and essential items such as food and hygiene kits.

Long-term recovery:
É«¶à¶àÊÓƵalso considers communities displaced as a result of disasters and the support they need to re-build their lives, their livelihood and their wellbeing.