AXA’s €1.5bn fight against deforestation

AXA has announced new commitments to preserve biodiversity by implementing a plan to fight against the deterioration of forest ecosystems.

Deforestation is one of the main causes of biodiversity loss and carbon emissions. It even represents a double loss for the climate because forests are the greatest contributors to carbon capture.

To protect these ecosystems, AXA will invest €1.5bn to support sustainable forest management, including €500m in reforestation projects in emerging countries. Currently, with more than 60,000 hectares of forests in its portfolio, managed on behalf of the AXA Group, all of which are certified by the Programme for the Endorsement of Forest Certification or the Forest Stewardship Council, AXA IM is an active player in sustainable forest management.

AXA will also strengthen its investment and insurance requirements in activities that actively contribute to deforestation. This will concern certain soy, palm oil, timber, and cattle production in regions where these industries strongly contribute to deforestation.

Furthermore, AXA is joining the World Heritage Sites initiative, launched by the United Nations Principles for Sustainable Insurance and WWF, and will implement specific exclusions on its insurance activities to protect the main biodiversity reserves identified by UNESCO. Half of these sites, spread over 110 countries, are recognized as biodiversity hotspots, and play a key role in natural disaster prevention.

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