AXA

Euronext Paris: AXA60Credible Contributor· Provisional

0 followersInsurer·Paris, France·Founded 1817

www.axa.com

Global insurer that was among the first major institutional investors to divest from coal and tar sands, and has committed over €26 billion to green investments as part of its Net Zero 2050 roadmap.

60/100

Credible Contributor· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: mediumData confidence: high

Why it's on ClimateTicker

AXA is among the most climate-active major insurers globally, with genuine and early commitments on coal divestment, green investment targets (>€26 billion), and net-zero 2050 pledges across both its investment and underwriting portfolios. However, it remains a large commercial insurer that still underwrites oil and gas projects (including LNG terminals), its investment portfolio's Implied Temperature Rise sits at 2.2°C — in line with the market average, not 1.5°C — and NGO watchdogs note its fossil fuel underwriting commitments have stalled since 2023. AXA is a genuine climate enabler and leader within insurance but carries a structural tension between its ambitious rhetoric and continued fossil-fuel exposure.

enablerAXA earns revenue primarily from insurance and reinsurance premiums (P&C, life, health) across more than 50 countries, with additional income from asset management via AXA Investment Managers (AXA IM), which manages ~€842 billion in assets.

Commitments & Certifications

CDP: Annual respondent — score not publicly extracted from this search ↗other: Net Zero Asset Owner Alliance member ↗other: TCFD-aligned reporting — annual ↗other: Montreal Carbon Pledge signatory — annual carbon footprint disclosure since 2014 ↗SBTi: Operational targets set in accordance with SBTi guidelines (1.5°C Scope 1&2); formal group-level SBTi validation for financial institutions not publicly confirmed ↗

Controversy & Greenwashing Watch

mediumStalled fossil-fuel underwriting commitments (2024 Insurance Scorecard)

The 2024 Insure Our Future scorecard found that AXA's climate commitments on fossil-fuel underwriting had stalled since 2023, with AXA failing to make the top five insurers and NGOs calling on it to rule out all fossil fuel expansion immediately.source ↗

mediumAXA IM investing in oil and gas developer bonds

Reclaim Finance documented that AXA Investment Managers continues to invest in bonds issued by major oil and gas developers (including companies like TotalEnergies, BP, Eni), inconsistent with a strict 1.5°C-aligned investment policy.source ↗

mediumAXA XL insuring LNG terminals despite net-zero claims

Activist research revealed AXA XL insures the Cameron LNG export terminal in Louisiana — a facility linked to high methane emissions and fracked gas exports — contradicting AXA's public green positioning.source ↗

lowInvestment portfolio Implied Temperature Rise at 2.2°C — market average

AXA's own 2024 Climate and Biodiversity Report discloses its portfolio's Implied Temperature Rise is 2.2°C, equal to the market average and far above its stated 1.5°C ambition, highlighting the gap between target and current reality.source ↗

mediumWithdrawal from Net Zero Insurance Alliance (NZIA)

AXA quit the NZIA in May 2023 — a UN-backed net-zero insurer coalition it co-founded — without withdrawing its individual net-zero commitments, raising questions about collective accountability and anti-trust concerns that prompted the mass exodus.source ↗

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