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AXA’s new climate strategy sets the bar high
During its “Climate Impact Day”, AXA announced the launch of a first of its kind “transition bond” in partnership with Crédit Agricole CIB. AXA will entirely finance a EUR 100 million bond in a private placement where the proceeds will be used to refinance existing commercial loans made by Crédit Agricole CIB. The main difference with conventional bonds is that the use of proceeds will be directed to industrial companies with the aim to decarbonise or to projects contributing to decarbonisation.