The AXA Group pursues its commitment to Corporate Responsibility by signing the Principles for Sustainable Insurance (PSI), officially launched in Rio de Janeiro on the 19th of June, in parallel of the UN Conference on Sustainable Development Rio+20.
Following more than six years of work from the UN Environment Programme’s Finance Initiative (UNEP FI) and the insurance industry, the signatories of these principles commit to integrating environmental, social and governance criteria into their business and their stakeholder relationships:
– Principle 1: “We will embed in our decision-making environmental, social and governance issues relevant to our insurance business.”
– Principle 2: “We will work together with our clients and business partners to raise awareness of environmental, social and governance issues, manage risk and develop solutions.”
– Principle 3: “We will work together with governments, regulators and other key stakeholders to promote widespread action across society on environmental, social and governance issues.”
– Principle 4: “We will demonstrate accountability and transparency in regularly disclosing publicly our progress in implementing the Principles.”
Learn more about these principles at www.unepfi.org/psi
The AXA Group has since the beginning been strongly involved in the design of these principles with the UNEP FI, and was notably Chair of the working group from 2006 until
2010.
Commenting AXA’s decision to become a signatory, Henri de Castries, Chairman and Chief Executive Officer of AXA said:
“As an insurer, our business is to protect people over the long term; we therefore have a responsibility to leverage our skills to help build a stronger and safer society. I am very proud the AXA Group is signing the Principles for Sustainable Insurance. I believe that by integrating environmental, social, and governance issues into decision-making across the insurance value chain, we will contribute to a more sustainable insurance industry. This is another step for us in our engagement towards corporate responsibility, but also a call for action for the coming years. I am convinced that, with these Principles, we will better serve our clients and society as a whole”.
To watch Henri de Castries’ speech about the PSI: http://www.axa.com/en/news/2012/principles_sustainable_insurance.aspx
Alice Steenland, Corporate Responsibility Director of AXA, said:
“We are delighted by this industry initiative which gives strong guidelines for the emergence of a more responsible insurance industry and will accelerate the implementation of our engagements. We have already taken some concrete measures, such as the development of a green product offer or the integration of corporate responsibility criteria in new contracts with suppliers. We are determined to go further in these commitments together with our peers.”
The signing of these principles is in line with the AXA Group’s global Corporate Responsibility Strategy. As a responsible corporate citizen, AXA strives to play a positive role in society by helping to better understand the risks faced by individuals and society at large.
This commitment also includes philanthropy initiatives, amongst which:
– A partnership with the NGO CARE on both research and education projects which aim to help vulnerable populations’ better face climate risks. A website dedicated to an international research project, on changing rainfall patterns and their impact on vulnerable people regarding food security and migration, will be launched during Rio+20 (http://www.wheretherainfalls.org). The outcome of this study will be released at Doha, in Qatar, during the COP 18 summit, at the end of 2012.
– The AXA Research Fund, which supports 300 researchers throughout the world, contributes to understanding and preventing environmental, life, and socio-economic risks. The Fund is endowed with a five-year budget of €100 million.
– The launch of an online social game “Forward+50” during Rio+20, which aims to raise the general public’s awareness of the challenges linked to taking collective decisions to mitigate climate change impacts over the long term. The game will simulate this impact on the city of Rio 50 years from now (http://www.forwardplus50.com).
