AXA Investment Managers has published data on its global carbon footprint, including across Scope 3, an area that remains highly contested across the asset management industry.
Total emissions at AXA across Scopes 1, 2 and 3, amounted to 31,280 tCO2e last year, according to the firm.
AXA IM has committed to reaching Net Zero by 2050 and has set an interim target of -26% by 2025.
This is the first time the manager has reported its Scope 3 emissions, which detail the impact of its supply chains, including indirect greenhouse gas emissions (GHG), from the purchase of goods and services, accounting for 96% of its total emissions.
According to a recent Morningstar report, asset managers are split over whether reporting on indirect emissions should be mandatory.
AXA’s Scope 3 emissions cover those from suppliers, such as business travel, the purchase of services, the purchase of goods including IT material, cloud usage, commuting, catering and home working.
Investments were excluded from the data set.
Marco Morelli, executive chairman at AXA Investment Managers, said it was “not enough” to be an active player in responsible investment, and that firms must also “walk the talk and be fully transparent”.
“At AXA IM, we hold ourselves to the same high standards that we ask of others and have taken this extra step so that we can start to take action on our total carbon footprint and because we expect it of the companies we invest in.
“With increasing regulation and expectation surrounding the reporting and disclosure of carbon footprints across the industry, it is the responsibility of companies like ours to lead by example in measuring and reporting carbon emissions with the greatest accuracy.”
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