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AXA Pledges EUR1.5 Billion in Fight Against Deforestation

14/10/2021 5:46pm

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   By Mauro Orru 
 

AXA SA will invest 1.5 billion euros ($1.74 billion) to support sustainable forest management and overhaul its investment and insurance requirements in activities linked to deforestation.

The French insurance giant said Thursday that the investment includes EUR500 million in reforestation projects in emerging countries, in a move to capture 25 megatons of carbon emissions every year.

AXA will also embolden its investment and insurance requirements for operations 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," the company said.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

October 14, 2021 12:31 ET (16:31 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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