Our contribution  to climate and biodiversity 

AXA considers a changing climate and biodiversity loss to be major risks for society and the economy. That is why we are committed to supporting the transition to a low-carbon economy and preserving natural ecosystems by mobilising our expertise, products and partnerships.

Our climate targets and actions as an investor and as an insurer

•  Decarbonisation: AXA aims to align its investment and underwriting portfolios with a trajectory compatible with the Paris Agreement and has set science-based decarbonisation targets.
• 2030 interim targets as an investor: 54% reduction in the carbon intensity of AXA’s investment portfolio (General Account) by 2030 compared with 2019. This target covers 40% of the General Account, including listed corporate bonds and equities, real estate assets and infrastructure assets.
• 2030 interim targets as an insurer: 20% reduction in the carbon intensity (IAE /vehicle) of the personal motor portfolios in selected geographies compared with 2019, 30% reduction in the absolute carbon emissions (IAE) of AXA’s largest commercial insurance clients compared with 2021, and 20% reduction in the carbon intensity (IAE/GWP) for other corporate clients within AXA’s largest markets compared with 2021.
• Concrete actions: increasing the share of our investments financing the transition to a low-carbon economy, developing insurance products and services that support the climate transition, supporting renewable infrastructure and offering parametric insurance for developing countries.

Our actions for nature and biodiversity

• Participation in international and national initiatives: Act4Nature, Business for Nature, Finance for Biodiversity, International Advisory Panel on Biodiversity Credits, Entreprises engagées pour la nature (French corporate biodiversity commitment).
• Actions as an investor and as an insurer: development of dedicated insurance products and innovative prevention services, and strengthening of dialogue with our customers, prospects and investee companies.
• Actions as a business: partnership with the Tara Ocean Foundation and Voies Navigables de France, and support for scientific research with the AXA Foundation for Human Progress.

Our targets and actions to reduce the environmental footprint of our proprietary operations

AXA takes action within its own operations to limit its environmental impact. Since 2012, an environmental management system has been in place to monitor carbon emissions, energy, water and paper consumption, and recycling.

• 2030 reduction targets as a business: 60% reduction in Scope 1 and 2 emissions (energy and vehicle fleet) compared with 2019 and 40% reduction in Scope 3.6 emissions (business travel) compared with 2019. These decarbonisation targets are science-based.
• Concrete actions: Since 2025 AXA has been sourcing 100% of its electricity consumption from renewable sources (VPPA signed in 2023 to cover data centre and buildings in Europe, and procurement of renewable electricity certificates in other geographies), revision of the travel policy, Digital Sustainability programme to reduce the carbon footprint of digital activities, decarbonisation of the supply chain (with a target for 66% of General Expenses and IT suppliers to have a credible transition plan by 2030 - suppliers with credible transition plans have been defined as those that have science‑based targets with the most far‑reaching transition plans, based on a case‑by case review that aligns with the latest and most ambitious climate science recommendations. For instance, some initiatives could be the SBTi, Exponential Roadmap Initiative, or The Race to Zero.).

Our climate contribution

In addition to its efforts to decarbonise its own operations, AXA purchases carbon credits corresponding to the amount of its residual emissions through certified projects (Gold Standard, Verra, Climate Action Reserve, ISO 14064-2). In 2024, AXA funded the equivalent of 154,461 tCO₂e through projects including:

• Agroforestry in Punjab (India): capture of 1.8 MtCO₂e over 40 years.
• Biogas in Sichuan (China): reduction of 800 ktCO₂e per year.
• Blue Carbon Tortuga Beach (Mexico): protection of 995 ha of mangroves.
• REDD+ Colombia: conservation of 130,777 ha of forests, 5.3 MtCO₂e avoided.
• Solar in Ouarzazate (Morocco): reduction of 400 ktCO₂e per year. 
  (and other forestry and agricultural projects in Latin America and Europe).

The average price for these projects is set at €22 per tonne of CO₂ across the Group, based on a portfolio of carbon credit projects with unit prices ranging from €7 to €78 per tonne of CO₂, depending on the project type (removal as opposed to avoidance) and geography. While AXA’s initiatives to reduce its environmental footprint is primarily driven by direct actions and operational improvements, the purchase of carbon credits serves as a supplementary measure to support broader decarbonization and sustainability efforts. However, we do not rely on carbon credits to meet, claim, or demonstrate progress toward a netzero target. For more details, see the Annual Report.

Decarbonisation targets and carbon credits financing combined enables AXA to encourage investment in low-emission projects and energy efficiency initiatives while facilitating more informed decision-making on climate matters. This overall approach helps to achieve decarbonisation targets and strengthen AXA’s ability to anticipate and adapt to future regulations.

Transparency and limitations

Our targets and metrics are subject to data availability and regulatory developments. AXA is committed to making its sustainable investment and underwriting policies public, aiming to improveits methodologies and remaining transparent about the challenges encountered.

A call for collective action

The transition to a low-carbon economy and the preservation of biodiversity require joint action by businesses, public authorities and civil society. AXA aims to be a committed corporate citizen and facilitator, while calling for international science-based targets to create a clear and fair framework for all. See Public Affairs page.