AXA launches climate risk assessment functionality

AXA Climate has expanded its Altitude platform to provide GPs with an assessment of climate, carbon and nature related risks.

With this new feature, AXA aims to assist its clients with the assessment of their climate risks of both their existing portfolio and new acquisitions. The company hopes to provide a consolidated view of ESG risks at both fund and portfolio level, in order to support GPs with meeting their reporting requirements from regulators and LPs.

“We are delighted to reach this new milestone with Altitude,” commented AXA’s CEO, Antoine Denoix. “Private equity will be a powerful lever for transitioning to a more sustainable economy. With Altitude, we are giving them the means to strengthen the fight against climate change and biodiversity loss.”

Launched in 2022, Altitude uses an algorithm and database to automatically identify business risks related to climate change, carbon emissions and biodiversity. Through this service, the company aims to provide increasingly accurate valuations and support the decision-making process of investment committees.

According to AXA, this functionality is sector, size and location agnostic.

Joanna Tirbakh, ESG director at Naxicap Partners commented: “At Naxicap, we have scanned the hundred portfolio investments and are holding discussions with them based on these results. The analysis of physical climate risks is very easy to interpret and act upon.”

AXA Climate is an entity of the AXA Group. Alongside the Altitude platform, the company offers digital training and advises among others the financial services sector on climate and environmental adaptation.