AXA is spending £ 1.27 billion on the fight against deforestation

To protect the world’s forests, AXA will invest € 1.5 billion to support sustainable forest management. This includes € 500 million reforestation projects in emerging markets. These efforts will enable us to recover a total of 25 megatons of CO2 each year.

“Forests make up 80% of the planet’s biodiversity and play an integral role in the fight against climate change. In 2013, AXA unsustainable palms to protect stressed ecosystems. We are a pioneer in the financial industry by limiting oil operations, “says AXA. “In the face of climate change emergencies, before COP26, we are expanding our commitment to fight deforestation, protect forest ecosystems and protect biodiversity,” said CEO Thomas Buberl. We are proud to announce the measures. “

AXA is currently an active player in sustainable forest management, with over 60,000 hectares of forest in its portfolio, all of which are certified by forest certification programs or forest management councils.

In addition to supporting forest management, insurers will also strengthen insurance requirements in activities that actively contribute to deforestation. Such activities include the production of specific soybeans, palm oil, wood and cattle in areas where these industries are contributing to deforestation.

AXA also announced that it has participated in the World Heritage Initiative, a project initiated by the United Nations Sustainable Insurance and WWF Principles. Through this partnership, AXA will implement certain exclusions on insurance activities to protect the biodiversity reserves identified by UNESCO. Half of these sites, which span 110 countries, are recognized as biodiversity hotspots and have been pointed out to be essential for mitigating natural disasters.

AXA said in a company announcement that it will continue its commitment to biodiversity conservation as a founding member of the Task Force on Nature-related Financial Disclosure. The Task Force develops a reporting framework that enables financial institutions to identify and assess economic activities that have a significant direct and indirect impact on biodiversity.

AXA is spending £ 1.27 billion on the fight against deforestation

Source link AXA is spending £ 1.27 billion on the fight against deforestation

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