AXA XL reveals three key levers in decarbonisation strategy

AXA XL, the property & casualty and specialty risk division of AXA, has 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.

After a detailed monitoring of the company's consumption over the past several years, AXA XL said it has identified the key levers that will help decarbonise its operational impact.

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 percent reduction) and intensity of resource consumption.

The strategy aligns with AXA Group’s goals and the objectives of the Paris Agreement, 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," said said Scott Gunter, chief executive officer at AXA XL.

"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,” he added.