Connect with us

Hi, what are you looking for?

Loan And Finance

AXA publishes its 2022 Climate and Biodiversity Report


The “warming potential” of AXA’s investments improves again to 2.6°C

The climate report now includes biodiversity conservation issues

AXA has announced the publication of the 7th edition of its climate report, renamed Climate and Biodiversity Report. This report responds to legal obligations in terms of extra-financial reporting, notably the first year of implementation of the new article 29 of the French Climate Law, as well as to the voluntary approach of two initiatives in which AXA plays a leading role, the Task Force on Climaterelated Financial Disclosures and the Taskforce on Nature-related Financial Disclosures (TNFD) launched in the fall of 2021.

In this report, AXA highlights the different dimensions of its action to fight climate change and protect biodiversity: governance, strategy, risk management and quantitative indicators of the impact of its actions.

The report’s key indicator, the “global warming potential”, which measures the impact of the Group’s investments on global warming by 2050, continues to improve. In 2021, it stands at 2.6°C, down 0.1°C and below the market (2.9°C). Its calculation model was strengthened in 2020 by integrating, for example, scope 31 emissions. The report also indicates a clear improvement in the carbon footprint of AXA’s investment portfolio, with a 29% decrease in 2021 compared to 2019. Finally, the amount of green investments was established at 22.6 billion euros, close to the target of 26 billion euros in 2026. The report thus highlights the transition trajectory thus begun, but also underlines the efforts that remain to be made to accelerate it.

New this year, the report details AXA’s action to preserve biodiversity and its support for the creation of the TNFD. Today, more than 50% of the world’s economic output depends on nature. The objective of the TFND is therefore to direct financial flows towards investments in the sector that are beneficial to ecosystems and to ensure that each player integrates this risk into its activities. AXA is leading the way and reports on its first initiatives in this area, both in terms of commitment (policy to combat deforestation through its investments and insurance activities) and the experimentation of new metrics (corporate biodiversity footprint).

“AXA has been a pioneer in the fight against global warming and the protection of biodiversity. This report shows that our knowledge of these major issues has grown and that our actions are producing concrete results. The continuous decrease in the ‘warming potential’ of our investments is a very positive sign, as every tenth of a degree counts in the fight against climate change. However, it shows the extent of the efforts we must make collectively to achieve the objectives of the Paris climate agreement by 2050.” Said Thomas Buberl, CEO of AXA.

Advertisement. Scroll to continue reading.



Source link

Click to comment

Leave a Reply

Latest

Top Stories

The chief of Australia’s financial services regulator Joe Longo has raised the alarm over the sheer amount of people that invested in “unregulated, volatile”...

Texas

On Wednesday, the commissioners court of Zavala County—the 11,000-person county immediately south of Uvalde—passed a resolution urging Republican Governor Greg Abbott to call a...

Florida

South Florida burger missionary Jeffrey Lemmerman, better known by his Instagram handle, Cheffrey Eats, claims not to know that this is National Sandwich Month:...

California

Former President Donald Trump called late Thursday for the “immediate” release of the federal warrant the FBI used to search his Florida estate, hours...

Washington

To celebrate 25 years since they dropped their Bullets name, the Washington Wizards will wear white, blue and bronze uniforms like the ones they...

Georgia

Kerrigan Gruhn had 15 kills and eight aces for Gainesville in a win against Flowery Branch (25-17, 25-14) and loss to Dawson County (25-22,...

Advertisement

You May Also Like

Uncategorized

Introductions get a lot of attention. I’ve explored the topic of how to write them even though as a reader, I always skip them....

Online Business Success

The internet is now our nervous system. We are constantly streaming and buying and watching and liking, our brains locked into the global information...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Online Business Success

You can think of link building in many ways. I like to call it tedious, painful, and a test of patience. It’s also necessary...

Advertisement