French cover major AXA to exit coal by 2040
Kolkata: Indian insurer Bharti-AXA’s joint venture partner, French cover major AXA is the latest to announce exit from coal-based businesses.
“…completely exit the coal industry by 2030 in the OECD and EU countries, then in the rest of the world by 2040” it said in a statement on Wednesday.
AXA also targets to contain the warming potential of its investments to below 1.5°C by 2050. As part of this objective, the Group will double its green investment objective to reach Euro 24 billion by 2023.
“Our conviction has always been that the fight against climate change requires cooperation between all stakeholders to drive collective action.
