Axa

Axa's reported carbon emissions

AXA's climate commitments include transitioning its investment portfolios to net-zero greenhouse gas (GHG) emissions by 2050. The company has set near-term carbon intensity reduction targets, aiming for a 25% decrease by 2025 and a 50% decrease by 2030, based on a 2019 baseline. These targets are applicable to corporate assets. AXA also aims to contribute to Net-Zero by 2030 for its own operations (Scope 1 and 2), targeting a 50% reduction in GHG emissions related to energy, fleet, and business travel compared to 2019, with remaining emissions offset. In terms of emissions, for the reporting year 2025, AXA reported a total of approximately 25.7 billion kg CO2e. This figure is comprised of approximately 20 million kg CO2e for Scope 1 emissions, around 2.12 million kg CO2e for Scope 2 (market-based), and approximately 25.68 billion kg CO2e for Scope 3 emissions. Scope 3 emissions are heavily influenced by investments, accounting for approximately 25.18 billion kg CO2e. For the 2024 reporting year, total emissions were approximately 27.08 billion kg CO2e. This included about 21.05 million kg CO2e for Scope 1, approximately 23.15 million kg CO2e for Scope 2 (market-based), and around 27.04 billion kg CO2e for Scope 3 emissions, with investments making up approximately 26.32 billion kg CO2e of that total. In 2023, AXA reported total emissions of approximately 26.23 billion kg CO2e, with Scope 1 at around 21.93 million kg CO2e, Scope 2 (market-based) at approximately 26 million kg CO2e, and Scope 3 at about 26.18 billion kg CO2e, largely driven by investments of approximately 25.45 billion kg CO2e. Earlier reporting years show variations in total emissions. For 2019, total emissions were approximately 56.93 billion kg CO2e, with Scope 1 at about 31.15 million kg CO2e, Scope 2 (market-based) at roughly 49.8 million kg CO2e, and Scope 3 at approximately 56.85 billion kg CO2e, where investments were a significant component at around 56.3 billion kg CO2e. For 2022, total emissions were approximately 126.44 million kg CO2e, with Scope 1 at about 21.38 million kg CO2e and Scope 2 (market-based) at around 37.17 million kg CO2e. Scope 3 data for 2022 indicated total emissions of approximately 185.35 million kg CO2e. Notably, Scope 3 emissions data was not always fully disclosed in earlier years, with missing data points for categories such as purchased goods and services.