On the 9th of January we, students of Antwerp Management School, had the opportunity to learn more about corporate sustainability during the so-called ‘AMS SDG Exchange Day’. During this day students had to make a choice between different presentations of several companies. For example the Port of Antwerp, BASF, Samsung and Johnson & Johnson. We had some questions about the possible ways an insurance company, like AXA, could take some initiative in order to contribute to a more sustainable environment. So, we attended the lecture of Mrs. Iosifidis, who is Corporate Responsibility Manager at AXA Belgium. In this week’s blog, we couldn’t let the opportunity pass to talk about these sustainable initiatives that AXA Belgium has implemented in the insurance and asset management sector.
AXA is a global leader in insurance and asset management. Active in more than 60 countries, more than 165.000 employees and serving more than 100 million customers worldwide it is truly a global company.
As a global company, AXA tries to empower people to live a better life. In order to do this, the company finds itself responsible for the quest of building a stronger and safer society. AXA’s Corporate Responsibility (CR) strategy focuses on the following three key issues: Climate Change, Health Risk Prevention, and Responsible Data. In the area of Climate Change AXA is making a contribution by investing in the transition to the low carbon economy. Some of the implemented initiatives in reducing the company’s carbon footprint are investments in sustainable buildings, waste reduction, and digitalization. On the national level, AXA Belgium has partnered up with GoodPlanet, in order to reduce their CO2 emissions. In this area, they are also making a rather bold statement by the insurance exclusion on new coal, oil sands, and associated pipeline businesses. By setting these restrictions AXA is trying to set new benchmarks in the insurance industry.
In the area of Health Risk Prevention AXA is expanding its efforts thanks to the years of expertise in risk management. AXA Belgium has also invested in the education of its employees in regard to first aid. For this they partnered up with the Cardiology Foundation. Another good example we can find in the Tabaco industry. AXA was one of the first companies to walk away from the Tabaco industry by excluding the Tabaco sector from their insurance. A difficult but necessary decision to make in order to reduce the health risks of its customers and to set a leading example.
The level of AXA’s drive for sustainability one could also find in the way it uses and protects its customer data. With the “Give Data Back” initiative AXA is providing its customers and the society at large essential information in order to manage, understand and potentially reduce risks. In this way, the data is shared for the common good.
As shown in the above, companies like AXA also can make a difference in making the world a more sustainable place. By research, funding and making difficult decisions, AXA has shown that the insurance sector can make a profound impact on the environment and at the same time contributing to social stability and economic growth.
By Thomas Goossens (email@example.com)