AXA Pledges EUR1.5 Billion in Fight Against Deforestation
October 14 2021 - 12:46PM
Dow Jones News
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)
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