Climate Action

AXA releases climate report to measure progress of Paris Agreement goals

AXA has released its 2020 Climate Report, which explores its current climate strategy and new developments in line with climate reporting frameworks.

  • 07 July 2020
  • Rachel Cooper

AXA has released its 2020 Climate Report, which explores its current climate strategy and new developments in line with climate reporting frameworks.

The report describes AXA's responsible investment and insurance initiatives in the fight against climate change and measures the Group's progress in implementing the objectives of the Paris Agreement by 2050.

Thomas Buberl, Chief Executive Officer of AXA, said: “AXA has been a pioneer in taking ambitious measures to combat climate change. Our Climate Report is an essential tool for measuring the effectiveness of the strategy we have implemented. It also shows that we must collectively pursue our efforts to achieve the objectives of the Paris Agreement, notably in the context of the post-Covid 19 economic recovery.”

This is AXA’s 4th climate report since 2015. This year’s report explores innovative climate-related impact metrics, the roll-out of AXA's new Climate Strategy, while also reflecting on the need for renewed climate action in the wake of the Covid-19 crisis.

This report meets both a legal obligation established by the French law on energy transition for green and ecological growth, and the approach of the Taskforce on Climate-related Financial Disclosures (TCFD) that AXA has supported since its creation.

The report's main indicator, the “warming potential", measures the impact of the Group's investments on global warming and its contribution to the fight against climate change.

At the end of 2019, AXA's "warming potential" was 2.8°C, down compared to 2018 (3°C) and below the market average (3.6°C). 

Christiana Figueres, Founding Partners, Global Optimism and Former Executive Secretary, UN Climate Change Convention (UNFCCC), said: “We witness the ground-breaking engagement of AXA in addressing the risks of unabated global climate change. AXA has been in the front of global efforts for years, going beyond thought leadership into corporate action leadership.”

Read the full report here.