SRI ratings and ethical indexes
The AXA Group's social, community, environmental and governance performance are evaluated by many players, from investors to corporate social responsibility (CSR) rating agencies specializing in the socially responsible investment (SRI) market.
The Group is ranked above average in its industry and is also included in the three main international ethical indexes: DJSI (based on research by SAM), FTSE4GOOD (based on research by Eiris) and Aspi Eurozone (Vigeo).
The following tables present an overview of the Group's main non-financial ratings ("absolute" scores and sector-benchmark ratings) as well as its position on the leading SRI indexes.
EIRIS and the FTSE4GOOD index
EIRIS (Ethical Research Investment Services), based in London, is one of the leading providers of non-financial data for the socially responsible investment market in Europe. This agency does not publish any ratings per se, but the SRI index produced by FTSE - FTSE4GOOD - is based on EIRIS research. The AXA Group is part of this index.
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2008 |
2007 |
2006 |
2005 |
2004 | |
| AXA included in FTSE4GOOD index | Yes | Yes | Yes | Yes | Yes |
Ethibel / Stock at Stake and the ESI index
Since the merger of Stock at Stake (member of the Ethibel Group) and Vigeo in 2005, the ESI index (Ethibel Sustainability Indices) are the property of Vigeo, which distributes them. The respective research databases have also merged. Nevertheless, the independent organisation "Forum Ethibel" still defines the contents of the ESI, notably based on both SRI performance and ethical considerations.
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|
2006 |
2005 |
2004 |
AXA included in ESI index |
No |
No |
No |
Innovest
Innovest Strategic Value Advisors, an international research consultancy, analyzes the performances of businesses in relation to environmental, social and strategic governance factors. More specifically, it focuses on their impacts on the competitiveness, profitability and performance of their share prices.
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2008 |
2006 |
2005 |
2002 | |
AXA rating |
AA |
AA |
A |
No overall rating before 2005 |
AXA social rating |
AA |
AA |
A |
A |
AXA environmental awaiting |
AA |
A |
A |
BBB |
Oekom
Each year, the German Oekom Research agency publishes a database analyzing the social, community and environmental performances of around 750 businesses, including AXA.
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2007 |
2006 |
2005 |
2003* | ||
AXA rating |
C "Prime" (recommended) |
C |
D+ |
D+ |
|
AXA's ranking in its sector |
* |
14/27 |
* |
23/70 |
|
Social rating |
C"medium" |
C |
* |
C- |
|
Environmental rating |
C-"medium" |
C- |
* |
D |
* No detailed scores for 2005
SAM and the Dow Jones Sustainability Index (DJSI)
Ratings issued by the Zurich-based analysis institute SAM reflect the company's performance based on economic, social and environmental criteria. Each one of these three areas is based on several weighted sub-criteria. The overall rating is based on a weighted average of the three key areas, benchmarked against the average for the sector.
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| 2008 | 2007 | 2006 | 2005 | 2004 | |
| Rating AXA | 71% | 67% | 62% | 60% | 50% |
| Sector average | 50% | 45% | 44% | 47% | 40% |
| AXA economic rating | 79% | 79% | 71% | 75% | 55% |
| Sector average economic rating | 58% | 56% | 53% | 61% | 43% |
| AXA social rating | 71% | 71% | 65% | 58% | 54% |
| Sector average social rating | 50% | 45% | 46% | 44% | 42% |
| AXA environmental rating | 61% | 52% | 51% | 47% | 36% |
| Sector average environmental rating | 41% | 35% | 35% | 38% | 33% |
| Included in DJSI STOXX index | Yes | Yes | No | No | No |
Vigeo and the ASPI index
The AXA Group's performance is also rated by Vigeo, a European social and environmental rating agency.
The score reflects the level of commitment to social responsibility on a scale from 0 to 100. Based on an analysis of the relevance and effectiveness of the various policies surveyed, the score represents an absolute rating, positioning the business in relation to the Vigeo rating standards. The rating ranks the company in relation to other firms in the "insurance" sector (34 European companies in 2008), thereby benchmarking the scores for the various companies against one another.
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Definition of ratings:
--: least developed businesses in the sector
-: businesses lower than average for the sector
=: businesses in line with average for the sector
+: active businesses
++: sector's most committed businesses
Vigeo issues these ratings for each one of the six areas analyzed, but does not produce one overall score or rating for the company. Inclusion in the ASPI (Advanced Sustainability Performance Indices) is based on research by Vigeo.
|
2008 |
2006 |
2005 |
2003 | |
Human Resources |
AXA Score |
52 |
64 |
68 |
53 |
AXA Rating |
+ |
+ |
+ |
= | |
Human rights |
AXA Score |
53 |
63 |
67 |
** |
AXA Rating |
+ |
+ |
+ |
** | |
Community involvement |
AXA Score |
63 |
76 |
73 |
69 |
AXA Rating |
+ |
+ |
+ |
++ | |
Environment |
AXA Score |
54 |
57 |
61 |
59 |
AXA Rating |
+ |
+ |
+ |
++ | |
Business behavior |
AXA Score |
59 |
63 |
59 |
51 |
|
AXA Rating |
+ |
+ |
+ |
= |
Corporate governance |
AXA Score |
48 |
46 |
47 |
50 |
|
AXA Rating |
= |
= |
- |
- |
Inclusion in ASPI Eurozone index |
Yes |
Yes |
Yes |
Yes |