AXIS Capital Aims To Transition To Low-Carbon
AXIS Capital Holdings Limited announced its “commitment to a 50% absolute reduction of Scope 1 and 2 greenhouse gas [GHG] emissions by 2030 across its global operations.”
A spokesperson said, “The action is the Company’s latest step in its ambition to transition to a low-carbon economy. Using a 2019 baseline, AXIS’s science based GHG reduction targets are in line with the goals of the Paris Agreement – to limit global warming well-below 2°C above pre-industrial levels.”
“As a specialty insurer and reinsurer that operates in the property and casualty space, we see first-hand the importance of mitigating climate risk and supporting the transition to a low-carbon economy,” said Albert Benchimol, President and CEO of AXIS Capital. “I am proud of the actions AXIS has taken to date, such as investing in our Renewable Energy business and significantly limiting new thermal coal and oil sands business from our insurance, facultative reinsurance and investment portfolios, with a goal to fully phase these out by 2040 globally. Our alignment to science-based GHG reduction targets in our global operations is the latest step in our journey.”
The spokesperson said, “Example actions the Company will take to achieve Scope 1 and 2 emissions reductions include optimization of the AXIS global real estate portfolio and identification of efficiencies in facilities management.”
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