How ethical and sustainable is AXA?
AXA is a company that is listed in The Good Shopping Guide’s Ethical Insurance Ratings Table. AXA has yet to reach our ethical requirements, but we hope that the brand will make the necessary changes in the future to operate as a more ethical corporation. AXA might boost consumer trust by requesting Ethical Accreditation, which would entail a more thorough review and recommendations for ethical development.
What does AXA do?
AXA is a provider of car insurance, home insurance, business, landlord and health insurance. The brand was founded in Normandy in the early 19th century by Ancienne Mutuelle de Rouen. The AXA name was launched in 1985 but wasn’t fully used until the early 1990s. The brand is owned by AXA S.A.
For which criteria does AXA perform poorly?
Despite the progress that has been made, there are still areas that the car and home insurance provider could improve. AXA receives a low rating for Irresponsible Lending and Political Donations. AXA has been criticised for financing Elbit systems, Israel’s leading arms company, which is known for supplying weapons that have already killed and injured many people, including children.
The brand has also provided finance to nuclear weapons companies in previous years. In recent election cycles, the insurance provider has also provided over a million dollars towards political parties.
AXA received a middle rating for its Responsible Investment Policy. Despite the AXA’s Responsible Investment Policy outlining various different investment areas that it excludes, the company was marked down for still allowing significant investment in the armaments and fossil fuels industries.
Past Criticisms of AXA’s ethical record
AXA faced criticism for being one of the suppliers providing oil and gas insurance despite committing to decarbonising its investment portfolio. Additionally, the company has been called out for funding companies and industries implicated in human rights abuses, such as Qatari companies involved in the exploitation of migrant workers.
In what areas does AXA score well for its ethics?
AXA scores highly in some research categories, including Environmental Destruction and Carbon Disclosure & Reduction Targets. AXA’s Climate & Biodiversity Report has several targets that relate to carbon emissions, with the ultimate aim of achieving Net Zero by 2050. The brand is also a signatory of the Montreal Pledge, a global initiative to monitor and reduce carbon emissions.
How can AXA improve its ethical rating?
The Good Shopping Guide divides a brand’s Ethical Rating into three categories: the Environment, People, and Animals. For more specific advice on how to improve, AXA could apply for Ethical Accreditation.
AXA might raise its rating and meet our basic ethical standards by re-evaluating who they provide financial help to, looking into the companies and ensuring they are not making any negative affiliations.
Corporate social responsibility, ethics, and sustainability for insurance firms
Please complete an Initial Sustainability & Ethics form if you oversee or work for an ethical insurance provider and are interested in learning more about how to accredit and certify your brand. Your certification application gets underway with our simple Initial Sustainability Form. Insurance companies like Aviva and ETA have profited from this accreditation of ethics and sustainability. If you have any inquiries regarding how ethical accreditation could benefit your organisation, get in touch with us.
Ethical performance in category
GSG category benchmark
Carbon Disclosure & Reduction Targets
Responsible Investment Policy
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