AXA XL puts nature at heart of new 3 year sustainability strategy
AXA XL launches new strategy to address critical sustainability challengesChampions nature: increasing client awareness of underappreciated nature risks by 2025 and planting over 300,000 trees prioritising degraded land by 2026Ambitious targets: developing a net zero road map, investing 75,000 volunteering hours and $5 million through its Hearts in Action philanthropy programs by 2026
AXA XL has published (7 February 2023) its new three-year sustainability strategy, “Roots of resilience” setting itself 23 ambitious targets to be met by 2026 or before.
AXA XL, a division of AXA, is leveraging its global position and reach to advance sustainability across the dozens of industries and countries it impacts daily.
Putting nature at the heart of its strategy demonstrates AXA XL’s ambition to be an industry leader in protecting biodiversity to promote resilient ecosystems as well as supporting community livelihoods.
Commenting on the new strategy, Scott Gunter, CEO of AXA XL, said: “The window of opportunity to build a resilient future for the planet is rapidly closing. Our new strategy aims to raise awareness of biodiversity risks to inspire clients and colleagues to put nature first.
“As a leading commercial insurer and reinsurer, partnering with many of the world’s major corporations and brands, we know that focusing on sustainability is not just a good thing to do, it’s good risk management.
“Consumers’ interest in the Environmental and Social Governance (ESG) standards of companies they buy from, increased activism, shareholder pressures, and greater regulatory oversight are all important factors which put sustainability at the very heart of how companies operate.”
The strategy is built on three main themes: valuing nature, addressing climate change and integrating ESG factors into its business operations.
From mangrove forests to the bees in our backyard, AXA XL seeks to protect nature by raising awareness of biodiversity and nature-based solutions. Key biodiversity goals include launching a collaborative partnership to take positive action for nature and increasing client awareness of underappreciated nature risks by 2025 and planting over 300,000 trees prioritising degraded land or other critical reforestation areas by 2026.
To play its part in addressing climate change, AXA XL is committing to publishing a net zero roadmap, promoting an equitable transition to a low-carbon economy and to leading a series of initiatives demonstrating the necessity of societal-led climate solutions.
Underpinning the strategy is AXA XL’s focus on continuing to embed sustainability across its business and beyond. The company is planning to provide ESG and sustainability training to all employees by 2024 and by 2026, is aiming to invest 75,000 volunteering hours and $5 million through its Hearts in Action philanthropy programs around the world.
Furthermore, by 2026 AXA XL intends to develop processes to measure and reduce the carbon footprint associated with its supply chain and strengthen its human rights-related due diligence.
Authored by AXA XL
