AXA • Divestments
AXA decided two years ago to divest Euro 500 million from the coal industry by targeting companies which derive over 50% of their revenues from coal. Today, the Group decided to increase its divestment fivefold to reach Euro 2.4 billion, by divesting from companies which derive more than 30% of their revenues from coal, have a coal-based energy mix that exceeds 30%, actively build new coal plants, or produce more than 20 million tonnes of coal per year.
In addition, because oil sands are also an extremely carbon-intensive form of energy and a serious cause of environmental pollution, AXA announced the divestment of over Euro 700 million from the main oil sands producers and associated pipelines, and the discontinuation of further investments in these businesses.
AXA SA published this content on 12 December 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 December 2017 08:18:03 UTC.
Original documenthttps://www.axa.com/en/newsroom/press-releases/axa-accelerates-its-commitment-to-fight-climate-change
Public permalinkhttp://www.publicnow.com/view/FB45B4882F92241CFD0C26F9E16579B47F26B238
