Divestment from coal is good business for French insurance giant Axa | The Optimist Daily
Today’s Solutions: July 16, 2024

The international fossil fuel divestment movement has been growing steadily, ahead of the U.N. Climate Summit in Paris later this year. The most recent announcement comes from French insurance giant Axa, who is slated to sell $559 million of its coal investments, while having committed over $3 billion to triple its “green investment footprint” by 2020. The reason? Climate change. Axa paid out over $1 billion in weather-related insurance claims last year, making climate risk a “core business issue” for the insurance company. Meanwhile, coal has the highest carbon content among fossil fuels. Could the finance industry be in the process of shifting before our eyes?

Solutions News Source Print this article
More of Today's Solutions

Colombia’s battle against deforestation achieves remarkable results

BY THE OPTIMIST DAILY EDITORIAL TEAM Colombia's deforestation rate dropped to its lowest level in 23 years, marking a significant milestone in the country's ...

Read More

US track star Allyson Felix opens the first-ever nursery for Olympic parents

BY THE OPTIMIST DAILY EDITORIAL TEAM The upcoming 2024 Olympic Games in Paris are expected to make history, not just by achieving gender parity, ...

Read More

Sweden to introduce off-grid communities that fully sustain themselves

To ensure that communities around the world become future-proof and resilient in the face of climate change, it’s essential to create development models that ...

Read More

‘Million-mile’ EV batteries are near. The impact could be massive.

Electric vehicles (EVs) have a clear environmental advantage over their gas-guzzling counterparts, but when it comes to longevity, the two are in dead heat. ...

Read More