Blue whales, coral reefs, rare dolphins… the Amazonian coast in Brazil sounds idyllic doesn’t it? But to AXA, its destruction is just another money making scheme.
A bombshell report has just revealed how the French insurer has been finding gaps in its own "green" policy -- to insure exploratory oil and gas operations in what’s been called “the Great Amazon Reef”.
You helped force AXA to adopt its landmark oil and gas policy last year. But it appears their policy is still far too weak, too flimsy, and hypocritical, leaving the door open for more climate-killing oil and gas exploitation.
Nightmare oil expansion can’t go ahead without insurance. If we raise a huge, global outcry today -- we can call out AXA’s climate hypocrisy, and make oil and gas drilling in places like Amazon totally uninsurable.
A bombshell report has just revealed how the French insurer has been finding gaps in its own "green" policy -- to insure exploratory oil and gas operations in what’s been called “the Great Amazon Reef”.
You helped force AXA to adopt its landmark oil and gas policy last year. But it appears their policy is still far too weak, too flimsy, and hypocritical, leaving the door open for more climate-killing oil and gas exploitation.
Nightmare oil expansion can’t go ahead without insurance. If we raise a huge, global outcry today -- we can call out AXA’s climate hypocrisy, and make oil and gas drilling in places like Amazon totally uninsurable.
AXA: honor your self-proclaimed climate leadership. Tighten the policy, stop all new oil and gas expansion!
AXA was hailed as a leader on climate at COP26 last year when it adopted its new progressive oil and gas policy. Nevertheless, hidden beneath the waters of Brazil's western Amazonian coast, the insurer is continuing to insure dirty fossil fuel companies who are intent on ravaging precious ecosystems for petrodollar profits.
Brazil’s Atlantic coastlines are some of the world's richest in terms of biodiversity, home to many critically endangered species, such as manatees, dolphins, whales, and sea turtles. But underlying this landscape are massive reserves of oil and gas that have become juicy targets for planet-wrecking companies. And this new report shows AXA is all too keen to insure them, all the while touting its "progressive" oil and gas policy.
You’ve pushed AXA to do better for the planet before. So you can do it again.
With our friends at Reclaim Finance and Insure Our Future, we’re telling AXA to put its money where its mouth is by ending financial ties to these projects, and close the loopholes in its flimsy green policies.
Will you join us again,
AXA: don’t insure oil and gas drilling in the Great Amazon Reef, or anywhere!
More information
Documents Reveal Insurers Backing Massive Offshore Oil Expansion in Brazil
Reclaim Finance . 20 January 2021.
Reclaim Finance . 20 January 2021.
Insure Our Future Press Release: Brazil Oil
Insure Our Future. 20 January 2022.
Insure Our Future. 20 January 2022.
Full Report: Fuelling Climate Change:The Insurers Behind Brazil’s Offshore Oil Expansion
Insure Our Future. 20 January 2022.
Insure Our Future. 20 January 2022.
Axa’s New Oil And Gas Policy: Glass 44% Full Or 56% Empty?
Insure Our Future . 29 October 2021.
Insure Our Future . 29 October 2021.
Oil, fisheries and coastal communities
Nathan Andrews. 14 May 2021.
Nathan Andrews. 14 May 2021.