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Sustainable thinking is at the heart of everything AXA Switzerland does – in terms of both its social responsibility and its own business interests.
At its core, the insurance business has always been about thinking and acting in a forward-looking, sustainable, and risk-conscious way. After all, its purpose from the outset was to protect people from sudden, unforeseen risks – be it a fire in a warehouse, a wrecked merchant ship or an accident in a factory. This is in fact how the first insurance contracts came about in Europe. By covering risks such as these, insurers enabled their customers to continue doing business and moving society forward.
The business of insurance has depended on a sustainable and risk-conscious approach ever since. Insurers have not only a commitment to their customers, but also an important responsibility toward society as a whole. A society in which risks are well balanced and broadly spread is a richer and more sustainable one.
Sustainable thinking has thus always been part of any insurance company's DNA, even though topics like climate change and social justice have only moved into the spotlight relatively recently. Sustainability as defined these days, covering environmental, social, and governance (ESG) factors, is therefore nothing more than a new dimension within a long-established business model.
“As one of the world's largest insurers and asset managers, we have a great responsibility. Ultimately, however, sustainability also serves our own business interests. Being an insurance company, our business model is founded on calculable risks. A world in which climate change and other threats are allowed to spiral out of control and give rise to incalculable risks would become uninsurable. That’s why it’s very much in our interest to ensure a sustainable, livable future for the world,” says Daniela Fischer, Head of Human Responsibility at AXA Switzerland.
Social aspects are also important. History has taught us that a society that has its risks in check offers a higher quality of life. “That said, we're now living in a global society in which risks such as climate change and the loss of biodiversity are the biggest threats of all. With that in mind, we're committed to sustainable business practices and investments worldwide and want to encourage other firms to take the same attitude,” explains Daniela Fischer.
“A world in which climate change and other global risks go unchecked would no longer be livable – or insurable”
Customers are also becoming ever more demanding when it comes to sustainability. “We're seeing more and more customers asking for sustainable solutions and products, especially as regards investments. It's particularly important for us to be transparent and dependable here and to strike the right balance between customers' various interests by weighing up their expectations in relation to security, returns, and sustainability,” says Daniel Gussmann, Chief Investment Officer at AXA Switzerland.
AXA is a member of various international initiatives and alliances promoting a sustainable future. As one of the world's biggest investors, it bears a special responsibility in this regard, and its size puts it in a position to achieve a significant impact.
Insurance, investment and sustainable thinking have been the three cornerstones of the AXA Group’s solid business model since the company was founded, and it was an early adopter of ESG as part of its sustainability approach. Both the AXA Group and AXA Switzerland rigorously continue their efforts towards greater sustainability and support various local and global projects, ranging from sustainable construction to promoting biodiversity and reducing its own carbon footprint.
The AXA Group is a member of various groups and associations promoting a sustainable future. We are involved in the following initiatives, among others:
Global:
In Switzerland:
AXA Switzerland pursues a comprehensive climate strategy, where it intends to do its part as an insurer, an investor and a company in general.
As an insurer:
Drawing on our expertise in risk management, our extensive experience in prevention and our innovative products and services, we aim to help our customers lower their carbon emissions.
As an investor:
We are reducing the carbon intensity of our investments and intend to help shape the transition to a low-carbon planet and assist in adapting to a changed climate. In line with the Paris Agreement on climate change, we’ve set ourselves the target of limiting the global warming potential of our investments to less than 1.5°C by 2050.
As a company:
In its own operations, AXA Switzerland has reduced its carbon emissions to a minimum and also promotes technologies that remove CO2 from the atmosphere and store it long term. We also actively advocate for the protection and restoration of biodiversity. And we provide internal training sessions on climate issues for our employees, so they can have a positive impact in their field and their environment.
Anna Ehrensperger is a media spokes person and topic manager in the AXA Newsroom.
