Axa has published its 2021 climate report, fulfilling the legal requirements for non-financial reporting as well as the voluntary approach of the task force on climate-related financial disclosures.
Among the various indicators measuring the insurer’s activities with regard to climate change, the firm’s 6th annual report highlights the ‘warming potential’ methodology, which measures the impact of the group's investments on global warming by 2050. This year, it says it stands at 2.7°C, below the market, whose potential is 3.2°C.
The report also shows that the ‘green’ share of Axa's portfolio is increasing - driven in particular by the €25bn green investments planned by 2023 - and that the carbon footprint of investments
continues to decline, in line with its own -20% target by 2025.
CEO Thomas Buberl said: “A decisive decade begins in the fight against climate change. 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.”
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