Target: Henri de Castries, Chairman and CEO of AXA
Goal: Praise insurance company for divesting from dirty coal energy.
Dirty coal industries that pollute the Earth and contribute to global warming will no longer enjoy the financial backing of AXA, a French multinational insurance firm, according the corporation’s CEO Henri de Castries. This is the first time a global financial institution has divested from coal company investments. Applaud AXA’s leadership for making this historic decision.
At a recent business and climate change conference taking place in France, de Castries announced that his multinational investment banking firm would sell off $559 million worth of coal industry assets by the end of this year. He explained that his company had made the decision based on the ever-increasing threat of climate change to both the environment and human civilization, saying that “It is our responsibility…to accompany the global energy transition.”
In keeping with that sentiment, de Castries also pledged to triple the firm’s money in “green investments” by 2020. This amounts to a total financial backing of a massive $3.3 billion for things like clean renewable energy, complementary green infrastructure, and green bonds.
Up until AXA’s announcement, divestment had mostly been the purview of universities and explicitly socially-conscious investment firms. With luck, AXA’s move will prompt other multinational firms to follow in its footsteps to help fight climate change and build a greener tomorrow. Sign the petition below to applaud AXA for making such a progressive shift in its investments.
Dear Chairman de Castries,
I am writing you today regarding your firm’s recent announcement that it would divest from coal by the end of this year and triple its investments in green energy by 2020. I wanted to take the time to express my gratitude to you for making this game-changing decision.
The world is staring down the barrel of a gun. This year is already on track to be the hottest one in recorded history. Across the Earth, amazingly strong storms are becoming increasingly common, droughts are getting more severe, and sea levels are rising. Climate change is real and it is negatively impacting people around the globe already.
We need all hands on deck to mitigate this situation and perhaps prevent it from getting worse than it might otherwise get. That includes governments, corporations, individual people, religious organizations, and every other kind of local, regional, and global institution.
AXA’s decision to do its part to fight global warming is the kind of dedication financial firms around the world need to demonstrate—hopefully your announcement will stir others to follow in your footsteps. Thank you for doing the right thing and divesting from dirty coal energy.
[Your Name Here]
Photo credit: Ahmedmahmoud