COP26: AXA unveils new environmental commitments

On the occasion of the COP26, AXA has unveiled new measures to fight against climate change.

The French group is committed to refrain from underwriting and investing in new oil exploration projects. As an exception, AXA will continue to invest in oil and gas companies with ambitious and credible plans.

The insurer is also planning to end its underwriting of oil sands and Arctic energy risks starting in 2022. Among other things, the company intends to divest and to no longer insure companies that derive 30% of their revenues from shale oil and gas.

Furthermore, the insurance company is scaling up the target of its green investments from 24 billion EUR (27.75 billion USD) in 2020 to 26 billion EUR (30.06 billion USD) by 2023.