AXA launches a new phase in its climate strategy
Insurer AXA has launched a new phase of its climate strategy, with an action plan containing an array of commitments, including measures to ensure its investments’ alignment with the Paris Agreement, a strengthening of its coal policy, and the launch of transition bonds to facilitate decarbonisation.
In addition to this, AXA’s climate strategy strengthens the group’s coal policy and implements an exit strategy; launches AXA’s transition bonds, a new type of bond used to finance energy transition projects, encouraging the move towards low-carbon energy technologies; and sets a doubling of its green investment target from €12bn in 2020 to €24bn in 2023.
The Paris Agreement invites all market participants to reorient financial flows in line with a +1.5°C warming potential target. Axa’s aim is to contain the warming potential of its investments under 1.5°C by 2050.
"Today we are launching a new phase in our climate strategy to accelerate our contribution to the transition towards a low-carbon and resilient economy, notably by focusing our sustainable finance efforts towards the energy transition of major industries,” said Thomas Buberl, CEO of AXA. “We are convinced that it is an absolute priority if we want to reach the objectives of the Paris Agreement."
