AXA recently announced the launch of the AXA Forests for Good program to help restore damaged forest ecosystems and make them more resilient to climate change.
The 3-year program will be deployed on 600 of the 15,000 hectares of forest owned by AXA in France, and managed by AXA IM. To carry out this project, AXA will be surrounded by a consortium of actors, led by Reforest’Action, and composed of France Nature Environnement, Inrae, Jura Nature Environnement, AgroParisTech and Société Alpine de Protection de la Nature-France Nature Environnement Hautes-Alpes. They will combine their environmental, social, technical and educational expertise.
The move is something can AXA can build into its annual reports under ESG activities, which is an important part of compliance. It seems likely that more major insurers will also invest in preserving forests, peat bogs or rewilding programs this winter, to meet carbon reduction targets.
The AXA Forests for Good programme will have 4 main objectives:
- To study the impact of global warming and land artificialisation on the loss of biodiversity thanks to the measurements of the consortium’s experts who will visit the plots every quarter.
- Restore the forest. After testing several restoration options, the consortium will make recommendations for species that promote the multifunctionality of the forest, i.e. the development of biodiversity, carbon capture and the production of biomaterials.
- Strengthen AXA’s leadership on climate and biodiversity issues. The practices developed through this programme can then be applied at the European level and shared with the private and public forestry sector.
- Contribute to a better understanding of the role of forests. Externally, the consortium’s members will raise awareness of biodiversity issues in schools thanks to these forests. Internally, AXA will propose actions through AXA Hearts in Action and awareness-raising operations to its partners and employees.
With AXA Forests for Good, the Group is strengthening its global forest protection plan. Last year, AXA announced a €1.5 billion investment program to support the sustainable management of forest ecosystems and the protection of biodiversity.
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