AXA celebrates its 6th Corporate Responsibility Week (CR Week) from 23 to 25 May this year. Through a range of volunteer and educational activities, AXA dedicates a week to educating its employees on the importance of building a sustainable environment for the larger community. This annual initiative involves all global AXA entities participating in Corporate Responsibility Week during the same week.
This year, the group’s CR Week gathered over 166,000 AXA employees from 59 countries to do their part for its community and the environment. With Risk Prevention as the overarching theme, AXA has identified three key risks they aim to mitigate:
Being in the business of protection, health is naturally an integral part of AXA’s corporate strategy. The risks posed are also a big concern for not just AXA’s customers and stakeholders, but also the bigger community. It is ideal to stay protected as the world faces new health adversities, such as the outbreak and discovery of viruses and diseases.
Financial planning for the future is top-of-mind for AXA’s customers and stakeholders as well, especially for the long term. With an ageing population, as well as an unpredictable, fluctuating economy, the lack of financial security can become a challenge for many in the near future.
Looking at a bigger picture, Climate Change remains a real and growing problem. Understanding its impact in the long run, AXA has been committed to reducing climate risks. During the 2015 Paris Climate Week, the group presented at two major events – the Business & Climate Summit and the Climate Finance Day to discuss how the private sector can contribute to limiting the scale of global warming.
Setting in motion its efforts to mitigate climate risks, AXA divested close to SGD$740 million (500 million Euros) of its internally managed assets away from coal-exposed activities globally. It has also pledged to triple its investments in green technologies and services to over SGD$4.5 billion (3 billion Euros) by year 2020.
To kick start the global AXA CR week, the AXA Group also announced this week its decision to divest of its tobacco assets currently valued at approximately 1.8 billion euros, and as a responsible health insurer and investor, it is the first global insurer to take such a bold step. The AXA Group believes that insurers are part of the solution when it comes to prevention of health risks to protect their clients. Tobacco’s cost to society amounts to 2.1 trillion euros per year1, or the combined cost of war and terrorism.
AXA Singapore’s Partnership with Waterways Watch Society
Locally, AXA Singapore continues to focus on preventing the possible risks to our environment for its CR Week. This year, the entity worked with non-profit organization Waterways Watch Society (WWS) to clean up the litter around Marina Reservoir, Singapore’s largest reservoir that provides up to ten per cent of the country’s water needs2.
More than 200 AXA Singapore employees patrolled the reservoir via kayaks, boats, bicycle and foot, mainly from the Singapore Sports Hub to Gardens by the Bay. Over a span of three days, the participants covered almost 30 kilometres in area during their patrol. Almost 160 kilograms of trash were collected by the AXA volunteers.
Chief Corporate Responsibility Officer for AXA Singapore, Ms. Kwek-Perroy Li Choo shared, “The general expectation about Singapore’s waterways – especially the reservoirs – is that they are to be kept clean by the relevant authorities. Through our Corporate Responsibility activities, we hope to heighten and reinforce, amongst our employees, the awareness that creating a sustainable environment is not just the government’s responsibility; it is critical for individuals and corporations like ourselves to contribute in our own way.”
She added, “I believe many of our employee volunteers are surprised to discover that the Marina Reservoir needs to be cleaned so regularly. With the reservoir located right in the heart of the Central Business District (CBD) and surrounded by existing and new recreational and eating outlets, the reservoir is more susceptible to pollution than ever.
As an organisation with our offices in the vicinity, AXA is glad to do our part to keep the waterways clean and sustainable.”
AXA is the leading Global Green brand amongst insurers in 2014. We are currently the #1 global insurance brand, for the 7th consecutive year based Interbrand’s latest rankings, with a brand value growth of 14% in 2015. At the 48th position, the AXA brand is also one of the top 50 global brands, ahead of the likes of Visa, Cartier, Starbucks and Heineken.
More information on AXA Singapore and its commitment to the environment can be found on www.axa.com.sg.
1 Source: MGI, cited in Connect – How companies succeed by engaging radically with society by John Browne, with Robin Nuttall and Tommy Stadlen.
2 Statistics obtained from IT Figures Season 4 Ep 20 – “Stressed by water?”, 21 March 2016
About AXA in Singapore
With presence as early as 1969, AXA operates in both entities of Life Insurance and General Insurance in Singapore. AXA offers a wide range of products, catering to the needs of individuals and companies.
AXA Insurance is the No. 2 general insurer in Singapore. It ranks No. 2 in Health, Marine Cargo and Motor insurance in the Singapore general insurance market.
About AXA Asia
AXA Asia is a market leading insurance player offering a differentiated composite proposition in Life and General Insurance with operational presence in Hong Kong, Singapore, Indonesia, China, India, Malaysia, the Philippines, and Thailand. AXA Asia is part of the AXA Group, headquartered in Paris and a worldwide leader in insurance and asset management with a presence in 59 countries. AXA Asia is committed to creating a sustainable, long-term business for our employees, customers and shareholders.
ABOUT THE AXA GROUP
The AXA Group is a worldwide leader in insurance and asset management, with 166,000 employees serving 103 million clients in 59 countries. In 2015, IFRS revenues amounted to Euro 99.0 billion and IFRS underlying earnings to Euro 5.6 billion. AXA had Euro 1,363 billion assets under management as of December 31, 2015.
The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.
The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.
It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.
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