€5bn/year transition financing investment target As a Global Investor, target €5bn per year in investments (corporate and sovereign bonds, real estate and private assets) to support transition financing.
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€6bn P&C GWP cumulative 2024-2026 transition underwriting As a Global Insurer, target €6bn in P&C GWP cumulative 2024-2026 to support transition underwriting across AXA France, Germany, Switzerland, UK, Belgium, Hong Kong, Mexico, and AXA XL.
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20m+ customers covered by inclusive insurance by 2026 Target >20m customers covered by inclusive insurance by 2026 (low-income to mass-market segments in emerging markets and low-middle income segments in eight European Markets including France).
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Primary: Operational emissions reduction (energy, car fleet, business travel) AXA targets -50% absolute carbon emissions by 2030 vs. FY2019 baseline, covering energy, car fleet and business travel. Residual emissions to be offset via carbon credits from nature-based or technical solutions (e.g. restorative agriculture, forest restoration, carbon capture and storage).
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Dependent: Transition financing as Global Investor As a Global Investor, AXA commits €5bn per year in investments to support transition financing across corporate and sovereign bonds, real estate and private assets. Focus on improving the resilience of communities.
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Dependent: Transition underwriting as Global Insurer As a Global Insurer, AXA targets €6bn in P&C GWP cumulative 2024-2026 to support transition underwriting, plus delivering +9,000 climate adaptation solutions & services to companies by 2026 (training, risk assessment, gap analysis, prevention/adaptation, crisis management).
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Offsetting residual emissions via nature-based and technical removals AXA plans to offset residual emissions via carbon credits from projects that focus on capturing and storing carbon emissions using nature-based or technical solutions, including restorative agriculture, forest restoration, and carbon capture and storage (CCS).
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Inclusive insurance target: >20m customers by 2026 14 million customers covered at FY23, targeting more than 20 million customers by 2026 via inclusive insurance, accelerating growth in Emerging Markets and addressing underinsured populations.
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9,000+ climate adaptation solutions target by 2026 Deliver 9,000+ climate adaptation solutions & services (cumulative 2024E-2026E) ranging from training, prevention and adaptation consulting in particular through AXA Climate.
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Acquisition of Nobis Group in Italy Acquisition of Nobis Group, predominantly a P&C insurance company, for €0.5 billion total consideration (11x P/E), improving AXA Italy's position from #5 to #4.
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