AXA XL Launches Sustainability Plan with Nature Focus

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by KnowESG,

AXA SA

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Picture of the world's largest coral reef, The Great Barrier Reef, in Australia.

"Roots of Resilience," AXA XL's new three-year plan for sustainability, aims to reach 23 important goals by 2026 or before. It shows how committed the company is to sustainability and what steps it will take to keep its operations from hurting the environment and society too much.

By putting nature at the centre of its strategy, AXA XL hopes to show that it is working toward becoming a leading company in protecting biodiversity, promoting resilient ecosystems, and helping people make a living.

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 is meant to make people more aware of the risks to biodiversity and get clients and coworkers 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 that put sustainability at the very heart of how companies operate.”

The strategy is founded on three key concepts: appreciating the value of nature, tackling the issue of climate change, and incorporating ESG considerations into its business practices.

With a focus on everything from mangrove forests to the bees in our local environments, AXA XL endeavours to safeguard nature by raising awareness of the importance of biodiversity and promoting nature-based solutions.

Some of the company's most important biodiversity goals are to form a partnership to actively support nature conservation efforts, to make clients more aware of the risks of undervalued parts of nature by 2025, and to plant more than 300,000 trees in areas that need reforestation or on land that has been damaged.

By publishing a "net zero roadmap," the company is taking a clear stance on its commitment to reducing its carbon footprint and promoting a low-carbon economy. The focus on providing ESG and sustainability training to all employees shows that the company is taking an integrated approach to sustainability, recognising that it is not just a matter of investing in low-carbon projects but also of changing the way employees think and work.

The investment in volunteering hours and philanthropy programmes, combined with the focus on measuring and reducing the carbon footprint of the supply chain and strengthening human rights-related due diligence, demonstrates AXA XL's commitment to not just reducing its own impact but also making a positive impact on the world.

In conclusion, AXA XL's efforts to promote sustainability and address climate change are a great example for other companies to follow and demonstrate that it is possible to balance economic growth with environmental responsibility.

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Source: AXA

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