Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Access to Water
• Financial Resilience
• AXA XL Hearts in Action
• Inclusion & Diversity

Environmental Achievements

• Reduced carbon emissions from business air travel and hotel stays by 25%
• Reduced water use per colleague by 11%
• Reduced carbon emissions from data centers by 40%
• Reduced carbon emissions from business car travel by 19%
• Reduced paper use per colleague by 20%
• Reduced waste production per colleague by 10%
• Offsetting air travel emissions through carbon credits supporting the preservation of 15,500 acres of tropical rainforest in Belize.
• Planting one tree for every day of colleague volunteering.

Social Achievements

• Partnership with Plan India enabled 872 unemployed young people to be trained in vocational and work-readiness skills, with 65% securing paid employment.
• Partnership with WaterAid promoted hygiene to over 2,100 students and provided piped water and improved sanitation facilities to communities in North India.
• Partnership with RedR enabled the delivery of critical pandemic resilience training, reaching more than 1,000 beneficiaries in the Philippines and Bangladesh.
• Supported four counties in California in addressing youth homelessness, resulting in 195 youth transitioning to stable housing.
• Supported Plan India's Saksham project, providing job-oriented vocational training to over 800 young people, with 571 securing employment despite COVID-19 restrictions.
• Supported United Way of Western Connecticut’s ALICE® project, creating a digital platform to deliver educational and vocational opportunities to financially vulnerable households.
• Donated more than $112,000 to 400 nonprofits around the world through the Matching Gifts program.
• Donated monies to the American Red Cross and Save the Children UK for disaster relief efforts.
• Provided pro bono legal services totaling 858 hours, valued at $429,000.

Governance Achievements

• Developed comprehensive Responsible Investment (RI) policy integrating ESG considerations into investment processes.
• Implemented responsible procurement guidelines embedded in AXA XL procurement policy.
• Extended AXA’s coal divestment and underwriting restrictions to AXA XL, strengthening the approach in 2019.
• AXA XL UK’s 2020 mean gender pay gap improved year-on-year, and is on track to meet the Women in Finance Charter goal of 35% of senior roles filled by women by 2023.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting communities, nonprofit organizations, and business operations.
• Climate change impacting vulnerable communities and ecosystems.
• Water scarcity affecting every continent.
• Youth homelessness and unemployment.
• Financial vulnerability of households.
• Gender pay gap.

Mitigation Strategies

• Adapted to COVID-19 by transforming volunteering events into virtual activities, making financial contributions to relief efforts, offering pro bono support, and helping nonprofit partners.
• Reducing carbon footprint, protecting ecosystems, and exploring how business can help build a better world.
• Developing water resilience through targeted funding, risk expertise, and partnerships.
• Partnering with nonprofits to build capacity to tackle youth homelessness and unemployment.
• Supporting financially vulnerable households through partnerships and digital platforms.
• Implementing initiatives to close the gender pay gap through development, recruitment, and employee engagement.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Responsible procurement guidelines defined and implemented collaboratively with sustainability team and key stakeholders.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather patterns
• Flooding
• Sea-level rise

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Development of mangrove insurance product
• Development of Circular Economy product

Reporting Standards

Frameworks Used: Null

Certifications: ISO 14064-Part 3 (Limited Assurance)

Third-party Assurance: Avieco

UN Sustainable Development Goals

• Goal 4 (Quality Education)
• Goal 6 (Clean Water and Sanitation)
• Goal 11 (Sustainable Cities and Communities)
• Goal 13 (Climate Action)
• Goal 14 (Life Below Water)
• Goal 15 (Life on Land)

AXA XL's initiatives contribute to these goals through partnerships with various nonprofits and through internal programs focused on education, water access, disaster preparedness, climate research, ocean conservation, and biodiversity protection.

Sustainable Products & Innovation

• Green Building Materials Expense supplemental coverage (PARLL policy)
• Tailored Builders Risk insurance programs for mass timber projects
• Mangrove insurance product (feasibility report launched)
• Circular Economy product (under development)
• Performance insurance solutions for low-carbon technologies (NER)

Awards & Recognition

• AXA Ocean Education won silver in the 2020 Corporate Engagement Awards for Best Partnerships in Education

Environmental Metrics

ESG Focus Areas

• Climate change
• Water security
• Financial resilience
• Inclusion and Diversity
• Supporting local communities

Environmental Achievements

• Created the world’s first seagrass carbon offsets
• Funded research into quantifying the flood resilience benefits of coastal wetlands

Social Achievements

• Provided clean water to 10,000 people in northern India
• Donated over 750 hours of legal pro bono support to individuals in need
• Trained over 580 disaster responders in climate-vulnerable countries

Governance Achievements

• Completed a detailed review of our sustainability strategy, including conducting a materiality assessment

Climate Goals & Targets

Environmental Challenges

• Increase in total carbon emissions compared to 2021 due to the return of business travel after COVID-19 restrictions were lifted
• Increase in energy and water usage as colleagues returned to the office
• Increase in global waste volume in 2021 due to office refurbishments

Mitigation Strategies

• Prioritizing virtual meetings and developing a travel-specific campaign to guide colleagues in understanding their travel footprint
• Reviewing offices with higher energy intensity to reduce usage and collaborating with landlords on more sustainable solutions
• Global colleague-led Green Committees pursuing initiatives to reduce single-use plastic and promote reusable options
• Investigating opportunities to divert waste from landfill in future refurbishments (London office now generates no landfill waste)
• Stocking London office with compostable and reusable cutlery and packaging, updating food menus to prevent excessive food waste

Supply Chain Management

Supplier Audits: Corporate Responsibility scoring of the supply chain in partnership with EcoVadis

Responsible Procurement

• Sustainability clause incorporated into contracts with vendors
• Inclusion of sustainability criteria in Requests for Proposals/Quotations
• Responsible procurement guidelines embedded in the AXA XL procurement process
• Sustainable Markets Initiative Global Pledge for Sustainable Supply Chains

Climate-Related Risks & Opportunities

Physical Risks

• Natural disasters
• Flooding

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Growth in green insurance products

Reporting Standards

Frameworks Used: GRI

Certifications: Null

Third-party Assurance: Carbon Intelligence (limited assurance for GHG emissions)

UN Sustainable Development Goals

• Goal 4 (Quality Education)
• Goal 6 (Clean Water and Sanitation)
• Goal 11 (Sustainable Cities and Communities)
• Goal 13 (Climate Action)
• Goal 14 (Life Below Water)
• Goal 15 (Life on Land)

Various initiatives described throughout the report contribute to these SDGs.

Sustainable Products & Innovation

• Green Building Materials Expense supplemental coverage
• Performance insurance solutions for low-carbon technologies
• Green Endorsements in Property business
• Builders Risk insurance programs for mass timber projects

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Valuing Nature
• Addressing Climate Change
• Integrating ESG

Environmental Achievements

• Reduced operational emissions by an estimated 34% since 2019.
• Achieved 7% revenue increase from green products and services compared to a 2020 baseline.

Social Achievements

• Sponsored 81 nonprofit organizations through the Regional Grant Program, with donations of $831,000.
• Reached approximately 26,000 volunteering hours and roughly $1.6 million in cash donations.

Governance Achievements

• Delivered ESG training to 100% of regulated entity boards and developed an “ESG Essentials” course for employees.
• Revamped the Sustainability Steering Committee (now Role in Society Steering Committee) to enhance governance processes.

Climate Goals & Targets

Environmental Challenges

• Increase in total emissions compared to 2022 due to a rise in business travel after COVID-19.
• Identifying and measuring supply chain risks.

Mitigation Strategies

• Continued efforts to reduce building energy use, air travel, and resource consumption.
• Conducted Corporate Responsibility scoring of its supply chain in partnership with EcoVadis; investigating methodologies to understand and measure supply chain footprint.

Supply Chain Management

Supplier Audits: Corporate Responsibility scoring with EcoVadis

Responsible Procurement

• Sustainability clause in global vendor contracts

Climate-Related Risks & Opportunities

Physical Risks

• Natural disasters

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of green products and services

Reporting Standards

Frameworks Used: GRI

Third-party Assurance: Nature Positive (limited assurance for GHG emissions)

UN Sustainable Development Goals

• SDG 6
• SDG 7
• SDG 12
• SDG 13
• SDG 15

Goals mapped to UN SDGs throughout the report.

Sustainable Products & Innovation

• Green Business Program products
• Green Building Materials Expense supplemental coverage
• Structured Risk Solutions for low-carbon technologies

Awards & Recognition

• Karma Award
• CSR – Excellence Award
• Sustainable Best Initiative of the Year – Go Green award