Axa

AXA Carbon Emissions and Climate Commitments

AXA, headquartered in France and operating in the Direct Life Insurance Carriers industry, has set ambitious targets for reducing its environmental impact. In 2025, the company reported total global emissions of approximately 25.7 billion kg CO2e. This figure comprises Scope 1 emissions of about 20 million kg CO2e, Scope 2 emissions of approximately 40.8 million kg CO2e (market-based), and Scope 3 emissions totalling around 25.68 billion kg CO2e. Within Scope 3, investments account for the largest portion, with approximately 25.18 billion kg CO2e.

In 2024, AXA's total global emissions were approximately 27.08 billion kg CO2e, with Scope 3 emissions contributing the significant majority at about 27.04 billion kg CO2e. The previous year, 2023, saw total emissions of approximately 26.23 billion kg CO2e, again driven by Scope 3 emissions amounting to roughly 26.18 billion kg CO2e.

AXA is committed to a long-term goal of transitioning its investment portfolios to Net-Zero greenhouse gas emissions by 2050. To support this, interim targets have been established. AXA IM has committed to interim carbon intensity reduction targets for 2025, aiming for a 25% reduction compared to a 2019 baseline, and for 2030, targeting a 50% reduction. These targets are applicable to corporate assets. Furthermore, AXA aims to contribute to Net-Zero by 2030 for its own operations, targeting a 50% reduction in GHG emissions related to energy (Scope 1 and 2), its vehicle fleet, and business travel, relative to 2019 levels. The remaining emissions are to be offset by high-quality carbon credits. AXA also plans to become carbon neutral by 2025, reducing emissions from its operations (energy, travel, digital) and offsetting residual emissions. As part of this initiative, AXA aims to reduce its carbon footprint for its General Account assets by 20% by 2025 (from a 2019 baseline).