AXA IM to divest from fossil fuel companies - COP26

Monday, 08. November 2021 12:14

AXA Investment Managers said on Monday that it will implement a new investment policy aimed towards mitigating the negative effects the industry has on the environment.

The global asset manager is planning to give companies time to adjust to the evolving climate fight while adopting a "no compromise" approach and moving away from companies and investors that fail to take climate into consideration. By 2022, AXA will divest from all companies where oil sands account for over 5% of their total production.

"If we don't see progress and strong commitments from companies, we need to be ...ready to divest," Executive Chairman of AXA IM Marco Morelli said adding that the road to net-zero is "all about transition."

Related Links: AXA S.A.
Author:
Baha Breaking the News (BBN) / TT