AXA is well aware that climate change will have significant impacts on its insurance business and more largely on the resilience of societies worldwide. The Group is also convinced that climate change and the necessary transition to a low-carbon economy represent new challenges and opportunities for its investment business.
This is why AXA undertook a "carbon foot-printing" analysis of its General Account assets, focused on asset classes where data exist and make sense, namely corporate and sovereign fixed income and equities. This represents a total of €402bn, or 75% of the Group's General Accounts and covers our three largest asset classes: Sovereign Debt, Corporate Bonds and Equities.
The results of this analysis are fully disclosed in our Montreal Pledge Report.