AXA’s climate leadership on the line

A coalition of environmental organizations, including Reclaim Finance and Greenpeace, is urging AXA to end its insurance services for new oil and gas production and transportation infrastructure. The letter argues that AXA, as a leader in the insurance industry and chair of the Net-Zero Insurance Alliance, should follow the International Energy Agency's (IEA) 2021 World Energy Outlook, which states that no new fossil fuel exploration or fields are required for a net-zero scenario. The authors highlight AXA's previous leadership in divesting from coal and suggest that a similar exit from oil and gas would benefit both the climate and the company's shareholder value.

• The authors demand that AXA implement two specific minimum measures: immediately stop services to all new oil and gas production and transportation infrastructure projects (including LNG terminals), and phase out services to companies developing such infrastructure by 2023.
• The letter asserts that AXA is currently among the top-10 underwriters of the oil and gas industry and claims the company insures oil reserve exploration in fragile ecosystems near the mouth of the Amazon.
• The coalition bases its demand on the IEA's 2021 World Energy Outlook, which concludes that a net-zero emissions scenario requires no new oil and natural gas fields beyond those already approved for development.
• The document argues that AXA's previous coal exit policies provided financial benefit, citing a December 2020 Société Générale report that increased AXA's target price by 6% due to ESG measures and coal exit policies.

APA

Pinson, L., Bosshard, P., Ruby-Sachs, E., Julliard, J.-F., Landon, A., Gaiji, K., & Schucking, H. (2021). AXA’s climate leadership on the line. Reclaim Finance. https://reclaimfinance.org/site/en/2021/10/20/axas-climate-leadership-on-the-line/

Chicago

Pinson, Lucie, Peter Bosshard, Emma Ruby-Sachs, Jean-François Julliard, Audrey Landon, Khaled Gaiji, and Heffa Schucking. AXA’s climate leadership on the line. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/10/20/axas-climate-leadership-on-the-line/.

Wikipedia

{{cite press release |last1=Pinson |first1=Lucie |last2=Bosshard |first2=Peter |last3=Ruby-Sachs |first3=Emma |last4=Julliard |first4=Jean-François |last5=Landon |first5=Audrey |last6=Gaiji |first6=Khaled |last7=Schucking |first7=Heffa |title=AXA’s climate leadership on the line |publisher=Reclaim Finance |date=20 October 2021 |url=https://reclaimfinance.org/site/en/2021/10/20/axas-climate-leadership-on-the-line/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{pinson2021axas, author = {Pinson, Lucie and Bosshard, Peter and Ruby-Sachs, Emma and Julliard, Jean-François and Landon, Audrey and Gaiji, Khaled and Schucking, Heffa}, title = {{AXA’s climate leadership on the line}}, publisher = {Reclaim Finance}, year = {2021}, month = oct, url = {https://reclaimfinance.org/site/en/2021/10/20/axas-climate-leadership-on-the-line/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }