AXA Switzerland has set itself further operational CO₂ reduction targets for 2030 and, starting in 2026, will support two innovative companies in their efforts to remove and store CO₂ permanently. In doing so, AXA Switzerland aims to contribute to achieving net zero.
The Paris Agreement calls for global greenhouse gas emissions to reach net zero by 2050. This means that by 2050, no more greenhouse gases such as CO₂ should be released into the atmosphere than can be removed again. To enable CO₂ removal on the necessary scale by 2050, it is essential that various technologies in this area be scaled up at an early stage. That is why, from 2026, AXA Switzerland is focusing on its contribution to net zero by promoting CO₂ removal technologies, rather than on compensating for its operational CO₂ footprint.
Collaboration with two innovative companies
As part of its revised strategy for operational emissions, AXA Switzerland is supporting two new CO₂ removal projects from 2026 to 2030: By 2028, 1,950 tons of CO₂ will be removed and stored long-term by the German-Brazilian start-up “InPlanet”. The Swiss start-up “neustark” will remove and store a further 1,800 tons by 2030. “By supporting these projects, we are contributing to net zero while promoting future-oriented technologies and Switzerland as a center of innovation,” says Daniela Fischer, Chief Sustainability Officer at AXA Switzerland. In addition to the above-mentioned commitments, AXA Switzerland will continue to participate in nature-based climate protection projects such as reforestation as part of an AXA Group initiative.
Concrete and mineral dust as permanent CO₂ storages
The Swiss company neustark has developed a technology that captures CO₂ from biogas plants and stores it in demolition concrete. Its innovative solution is already being used at various locations in Switzerland and Europe. “We are transforming demolition concrete, the world's largest waste stream, into carbon sinks. This removes CO₂ locally and permanently, and the CO₂-enriched granulate can be reused as recycled building material,” explains Lisa Braune, Head of Carbon Removal at neustark. ”Partnering with pioneering companies like AXA Switzerland, who are investing in permanent CO₂ removal, helps us to scale the carbon removal industry.”
The start-up InPlanet removes CO₂ by weathering certain types of rock. InPlanet accelerates a natural process by spreading finely ground rock dust on agricultural land in Brazil. “Our process makes it possible to achieve in less than a decade what would otherwise take centuries. In addition, the dissolved minerals support soil regeneration and provide valuable nutrients for agriculture,” says Felix Harteneck, founder of InPlanet. By providing early support, AXA is enabling the scaling of these technologies and contributing to the achievement of net zero.
Continued focus on emissions reduction
The continuous reduction of operational emissions remains a top priority at AXA. Between 2012 and 2019, AXA Switzerland has already reduced greenhouse gas emissions from energy and business mobility by 38 percent, thanks in part to a reduction in office space and a switch to renewable heating systems. These emissions are set to fall by a further 43 percent between 2019 and 2030.
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Further information
The press release is available online: AXA.ch
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In Switzerland, around 2 million customers rely on AXA's expertise in the areas of personal accident, property, liability, legal expenses and life insurance, as well as in the areas of health and occupational benefits. With innovative products and services for mobility, health, retirement and entrepreneurship, as well as simple, digital processes, AXA is a partner at its customers' side, encouraging them to believe in themselves even in challenging situations with its brand promise “Know You Can”. Around 4,500 employees and 3,000 colleagues in sales are personally committed to this. With over 340 branches, AXA has the largest sales network in the insurance industry in Switzerland. AXA Switzerland is part of the AXA Group and generated a business volume of CHF 5.8 billion in 2023.