Climate

In terms of the climate, AXA focuses on transitioning to an economy and society that produce less carbon. We set annual targets and define measures in order to continually lower the emissions from our operational business. The pension funds entrusted to AXA are invested based on the principle of constantly reducing the carbon footprint of these investments. At AXA, we offer our customers climate-friendly products and services, such as promoting electromobility. Our employees are trained in the scientific reasons behind climate change through our own Climate Academy in order to improve their knowledge and understanding of climate change.

Our objective as a company: to contribute towards net zero

AXA Switzerland aims to continually reduce the carbon footprint of its operating business. We also aim to support effective and innovative climate protection projects to help reach the net zero target by 2050 and to limit global warming. We are going forward step by step so that we can implement this plan.

1. Calculating carbon emissions

Together with myclimate, we are establishing on an annual basis the source and extent of the carbon emissions that our business generates. We include the carbon output of the 340 sales offices in this calculation. The carbon footprint helps us to identify reduction potential and develop measures.

AXA Switzerland’s carbon footprint in 2024. — Carbon footprint of AXA Switzerland 2024

Mobility currently accounts for around 60 percent of carbon emissions. In terms of commuter traffic and business travel, car journeys are responsible for most of the emissions. The impact on the climate due to energy consumption, which accounts for 13 percent of the carbon footprint, derives mainly from heating buildings. In the IT category (20 percent), the procurement of electronic equipment, such as computer screens or laptops, is the main factor. The remaining category comprises carbon emissions generated by working from home as well as paper consumption and waste.

2. Setting carbon reduction targets

In terms of energy consumption (direct and indirect emissions through purchased energy – Scope 1 and Scope 2 under the Greenhouse Gas Protocol) , we aim to reduce carbon emissions by 24 percent by 2025 and by 50 percent by 2030 compared to 2019. In terms of business travel, we are aiming to reduce carbon emissions by 21 percent by 2025 and by 40 percent by 2030 compared to 2019. These carbon reduction targets relate to AXA Switzerland excluding the sales team. We also aim to reduce IT-related carbon emissions by 21 percent by 2025 compared to 2020.

3. Implementing measures

As part of our climate strategy and in order to reach our carbon reduction targets, we are developing and constantly implementing reduction measures. The key measures focus on mobility and energy.

Climate-friendly mobility

We have internal travel guidelines to encourage our employees to travel in an eco-friendly way and to take the train rather than fly or drive. AXA supports the use of public transportation by reimbursing employees who buy a transit fare card, for example. Many AXA office buildings have bicycle parking and electric charging stations that employees can use to charge their car for free. AXA additionally offers financial support or solutions to its employees who travel the most to encourage them to switch to electromobility.

Thanks to Smart Working, our employees can work flexibly from home, in the office, or elsewhere. This way, commuting journeys are saved which has a positive impact on our carbon footprint.

A row of white electric cars is parked in a parking lot; one reads “Je roule électrique”. Trees can be seen in the background. — Small electric cars for the AXA Switzerland sales team

Energy-efficient buildings and renewable energy

As a member of the Zurich Energy Model, AXA has been successfully implementing measures to improve energy efficiency in office buildings since 2010. We are also reducing office spaces and optimizing their usage. As a further step towards combating climate change, we are replacing heating systems that use fossil fuels with more environmentally-friendly alternatives such as district heating.

Since 2009, AXA has been drawing its electricity from renewable energy sources, mostly from Swiss hydropower. We also produce our own electricity with photovoltaic systems on our office buildings in Winterthur, Lausanne, and Lugano.

4. Supporting climate protection projects

In addition to reducing carbon emissions in our own value creation chain, AXA is supporting climate protection projects that remove and store CO₂ from the atmosphere over the long term. The young company Neustark will have removed and stored on a long-term basis 1,800 tons of carbon by 2030. Neustark has developed a technology that captures carbon in its biogas facilities and stores it in demolition concrete. The German-Brazilian start-up InPlanet will have removed and stored a further 1,950 tons by 2028. InPlanet removes carbon by weathering certain types of rock. The company accelerates a natural process by spreading finely ground rock powder on agricultural land in Brazil.

5. External validation

ClimatePartner reviews and certifies the above steps for AXA Switzerland's business. The certification and our contribution to climate protection can be clearly tracked on the related Climate-ID website.

ClimatePartner-Label for the certification of climate protection in operating business