30th January 2025: HXR members occupy AXA lobby in protest against their fossil fuel financing

Posted by: Hils - Posted on:

On 30th January, members of HXR staged a protest, for the second time, occupying the lobby at AXA UK headquarters in the City of London today, to demand the company withdraw its financial support for fossil fuel projects around the world. AXA are one of the top three health insurers in the UK, Insurers such as AXA continue to continue to maintain significant investments in, and underwrite support for, fossil fuel companies. Yet fossil fuel expansion is driving global heating and extreme weather (including flooding, drought, storms and heatwaves), particularly in lower-income communities across Africa, Asia and Latin America, communities who, unjustly, do not have access to insurance protection against these climate disasters which have devastating health impacts.

AXA continues to insure TotalEnergies, and its liquid natural gas (LNG) terminals throughout the world. the company insured, has vowed to increase LNG production by 50% by 2030. The environmental impact of LNG is disastrous. Methane leakage (which has 80 times the global warming effect of CO2), may even make it more polluting than coal, Methane damages airways, aggravates lung diseases, causes asthma attacks, increases rates of preterm birth, cancer, cardiovascular morbidity and mortality, and heightens stroke risk, often in communities which are low-income and vulnerable.

Insurance companies such as AXA must stop insuring, and investing in, new fossil fuel projects including LNG. Without this support, fossil fuel expansion cannot go ahead and existing projects will have to close. At the same time insurers should increase their investments in, and support to, a just and rapid transition to a clean energy, low carbon economy. Insurance companies have a responsibility, and the power, to make these changes happen.

AXA have not responded to our letters requesting a meaningful discussion on these issues, or to our previous lobby occupation. We will continue to campaign for them to take action and to protect the health of everyone, across the world

Insure our Future

AXA must end its support for LNG