AXA XL this week unveiled its Carbon Management Strategy which aims to accelerate its contribution to the transition towards a more sustainable and less carbon-intensive economy by 2050.
The strategy, which aligns to AXA Group’s goals and the objectives of the Paris Agreement, outlines AXA XL’s commitment and roadmap to decarbonize its operations in order to reach the goal of limiting global warming to below 1.5 °C.
“We’re in the business of building a more resilient planet and it’s no secret that a changing climate and its impacts on the environment presents our industry with a range of challenges and potential opportunities. But effective Corporate Responsibility actions must start with getting our own house in order, doing everything we can to save energy, reduce waste and enable all of our colleagues to adopt greener working behaviors.
As a leading global insurer, our role must be to make sure we are doing everything we can to make our clients, and our communities, better equipped for a potentially warming world,” said Scott Gunter, Chief Executive Officer at AXA XL.
The Carbon Management plan is a central focus of AXA XL’s strategy which focuses on climate change, access to water and financial resilience.
Following several years of detailed monitoring of the organization’s consumption and using 2019 as a baseline, AXA XL has identified the key levers that will help decarbonize its operational impact.
Three areas were identified as key to AXA XL working towards an overarching goal of limiting global warming to below 1.5 °C which is a target aligned to industry-practice decarbonization. These areas are energy consumption, people movement (travel and vehicle fleet), and resources consumed.
Within each area, the strategy establishes sub-targets for the main impact areas including absolute Green House Gas (GHG) emission reduction targets (25% reduction) and intensity of resource consumption (see infographic.)
You can read more about AXA’s position on climate change here: https://www.axa.com/en/about-us/axa-and-climate-change.