Insurer AXA says made investment portfolios greener in 2019

FILE PHOTO: Logo of AXA insurance is seen in Basel

LONDON (Reuters) – French insurer AXA <AXAF.PA> said it reduced the temperature score of its investments in 2019, bringing them closer to alignment with the targets of the Paris Agreement on climate change.

The so-called “warming potential” of its investments, a measure of their contribution to climate change, had fallen to 2.8 degrees Celsius from 3 degrees Celsius in 2018, AXA said in its 4th Climate Report released on Friday.

The Paris Agreement, struck in 2015, aims to keep average global temperature rise to below 2 degrees Celsius and ideally at 1.5 degrees Celsius above pre-industrial norms by 2050.

(Reporting by Simon Jessop; editing by Jason Neely)

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