AXA to fight climate change

ClimateBy 2030, the AXA Group intends to completely abandon the coal industry in the Organisation for Economic Co-operation and Development (OECD) countries.

The total divestment from all the countries of the world is planned for 2040. The group's aim is to align itself with the objectives of the Paris Agreement for the environment and limit the rise in temperature to 1.5 degrees. AXA has taken a gradual approach that will ultimately enable it to no longer insure polluting industries.

In 2015, the group decided to no longer cover companies that generate more than 50% of their turnover from coal. In 2018, AXA XL announced that it would abandon the underwriting of coal, oil sands, tobacco, Arctic drilling and certain categories of weapons as of January 1, 2020.

Read also | Insurers and reinsurers withdraw from the coal industry

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