AXA IM to Exclude Companies Involved in Deforestation for Soy, Cattle, Timber
June 16 2021 - 6:53AM
Dow Jones News
By Maitane Sardon
AXA Investment Managers said Wednesday that it is expanding its
palm-oil investment policy to exclude from its funds companies that
face land-use controversies and are causing deforestation in
relation to soy, cattle and timber.
The asset-management arm of French insurer AXA SA said the
expansion is aimed at bolstering a policy it launched in 2014,
which excluded companies that didn't have sustainable palm-oil
production certificates or were involved in illegal logging or
unresolved land-rights conflicts.
The investment manager said that from now on, it will also ban
companies operating in the soy, timber and cattle industries that
are facing major land-use and biodiversity controversies and that
have "a critical impact on deforestation and natural ecosystems
conversion." AXA IM will use deforestation data provided by CDP, a
nonprofit disclosure platform.
"Through our investment practices, we have a role to play and
are committed to fighting deforestation and natural ecosystem
conversion, as well as supporting forest restoration to ensure
habitat conservation and to limit global warming," said Marco
Morelli, executive chairman of AXA IM.
With the new policy, AXA IM is also seeking to boost its
engagement with the companies it invests in to encourage them to
strengthen efforts to preserve biodiversity and move toward
sustainable practices, it said.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
June 16, 2021 06:44 ET (10:44 GMT)
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