“The window of opportunity to build a resilient future for the planet is rapidly closing,” said AXA XL chief executive Scott Gunter in an emailed release. “Our new strategy aims to raise awareness of biodiversity risks to inspire clients and colleagues to put nature first.

“As a leading commercial insurer and reinsurer, partnering with many of the world’s major corporations and brands, we know that focussing on sustainability is not just a good thing to do, it’s good risk management.”

Gunter added: “Consumers’ interest in the environmental and social governance standards of companies they buy from, increased activism, shareholder pressures, and greater regulatory oversight are all important factors which put sustainability at the very heart of how companies operate.”

Below are the strategy goals, which AXA XL described as ambitious.

Valuing nature

1. Understanding our impact
2. Promoting nature protection
3. Highlighting nature risks
4. Assessing the value of nature
5. Reforesting in critical areas
6. Joining forces for nature
7. Training colleagues
8. Promoting local biodiversity

Addressing climate change

9. Boosting green business
10. Reducing our carbon footprint
11. Driving toward net zero
12. Sharing societal-led climate solutions
13. Transitioning to a low-carbon economy

Integrating ESG (environmental, social, and governance)

14. Supporting our communities
15. Delivering ESG training
16. Developing our talent
17. Prioritising inclusion & diversity
18. Empowering ESG innovations
19. Catalysing ESG conversations
20. Rolling out ESG action plans
21. Managing supply chain risks
22. Enhancing governance
23. Reporting on our performance 

Source: Insurance Business