AXA UK Carbon Reduction Plan

Commitment to aligning to net zero

The scope of this document relates to PPN006 and AXA UK’s own operations only. Further information on our work to mitigate our impact on the environment as an insurer and an investor can be found in AXA UK’s Non-Financial Information Statement, alongside our wider sustainability strategy, risk management and governance processes.

AXA UK has a goal to align our operations to net zero pathway by 2050.

AXA UK is a subsidiary of AXA Group, which is a global group. Reaching net zero requires a substantial reduction in GHG emissions on a global scale, ultimately enabling to reach a balance where GHG emissions are offset by natural or technological absorptions. AXA has implemented specific targets relating to its investment and underwriting portfolio, and for its own operations as a company. AXA is therefore pursuing intermediate decarbonization targets for 2030 and implementing specific actions to mitigate climate change.

By 2030, AXA Group aims to reduce its GHG emissions by at least 50% related to energy Scope 1 and 2, car fleet and business travel compared to 2019¹, while financing GHG emission reduction projects outside the value chain by purchasing carbon credits, corresponding to the volume of residual emissions. As of 2025, AXA UK has achieved a 65% reduction, thus exceeding its agreed contribution towards the Group target for 2030.

Baseline emissions footprint

Baseline emissions are a record of the greenhouse gases that have been produced in the past and were produced prior to the introduction of any strategies to reduce emissions. Baseline emissions are the reference point against which emissions reduction can be measured.

Current emissions reporting

Emissions reduction targets

In order to continue our progress to aligning to net zero, AXA UK has adopted the following carbon reduction targets.

We project that carbon emissions will decrease over the next five years to approx.1,950 tCO2e by 2030 across energy scope 1 & 2, business travel (Rail & Air) and car fleet. This means that we are on track to meet our targets to achieve emissions reductions (vs. a 2019 baseline) of: -70% in energy scope 1 & 2; -50% in business travel and -80% in car fleet.

Completed carbon reduction initiatives (material initiatives only)

The following environmental management measures and projects have been completed or implemented since the 2019 baseline. The measures will be in effect when performing contracts within the time period from the publication of this document up until 2030.

• Energy Scope 1 & 2 
  • LED Lighting installation across two sites 
  • Introduction of energy efficient technologies such as new gas boilers where possible 
  • Roll-out of standardised office temperatures across the estate 
  • Purchase of Renewable Energy Guarantees of Origin (REGOs) and involvement in AXA Group’s carbon offsetting agreement, to minimise our environmental impact as we continue working towards our new zero emissions target
• Business travel
  • Travel policy refresh promoting lower carbon emitting travel e.g. replacing London to Paris flights with Eurostar
  • Introduction of carbon reduction filters and flags in Travel system to encourage colleagues to book lower carbon emitting journeys 
• Car Fleet
  • Transition to smaller sized engines and higher number of electric & hybrid vehicles in the company fleet, supported by improved workplace charging facilities
• Employee Commuting 
  • Salary sacrifice scheme in place to support colleagues wishing to purchase an electric or hybrid vehicle and charging equipment. 
• Waste
  • Commitment to zero Unsorted waste to landfill
  • Increased Sorted waste recycling rate (up c.+14% vs. 2019) through higher food waste recycling and removal of washroom hand towels initiatives. 

Note, AXA Group has a SBTi committed status and in the AXA UK General Expenses & IT supply chain - we request high spend suppliers to provide evidence of a commitment to a credible climate transition plan by 2030.

Future carbon reduction initiatives (material initiatives only)

In the future we hope to implement further measures such as:

• Implementation of a more efficient heating, ventilation and air conditioning (HVAC) system in one of AXA UK’s largest sites. 
• Investment in new or replacing existing Solar Panel solution, across at least one site
• Travel guideline revision to promote “travelling with purpose” behaviours, for example reducing rail travel frequency by greater use of MS Teams meetings.

Declaration and sign off

This Carbon Reduction Plan has been completed in accordance with PPN 006 and associated guidance and reporting standard for Carbon Reduction Plans.

Emissions have been reported and recorded in accordance with the published reporting standard for Carbon Reduction Plans and the GHG Reporting Protocol corporate standard1 and uses the appropriate government emission conversion factors for greenhouse gas company reporting.²

Scope 1 and Scope 2 emissions have been reported in accordance with SECR requirements (where required), and the required subset of Scope 3 emissions have been reported in accordance with the published reporting standard for Carbon Reduction Plans and the Corporate Value Chain (Scope 3) Standard.³

This Carbon Reduction Plan has been reviewed and signed off by the board of directors (or equivalent management body).

Signed.

Tara Foley
Chief Executive Officer and Director
AXA UK plc and AXA Insurance UK plc

Date:16 September 2026