AXA releases first global study on how cities and business owners are building resiliency to climate change

Media Contacts:

Colleen McGroarty
(212) 314-2485
colleen.mcgroarty@axa.us.com
Josh Passman
(212) 279-3115, x203
jpassman@prosek.com

October 29, 2015

NEW YORK – U.S. results show a false sense of security amongst U.S. businesses:

  • Close to half of small to medium-sized enterprises (SMEs) surveyed in the U.S. have already been impacted by climate change
  • 33% of the U.S. SMEs feel “well prepared” to deal with the climate impact, yet only 19% have a strategy or plan in place to deal with climate-related risks and 40% have no intention to develop one
  • Even though vulnerability to climate change and natural disasters is increasing as cites continue to grow, the report found that the majority of those surveyed do not see the issue as an immediate risk.

The “Business Unusual” report, commissioned by AXA Group and conducted by the Penn Schoen Berland (PSB) Institute, is the first international study of its kind to examine how cities and SMEs are working to become more resilient to the consequences of climate change.  Survey participants included 1,104 SME directors and urban leaders from major cities in 18 countries across Europe, the Americas and Asia.

Event promotes climate discussion

Given the increasing need to drive more attention and discussion around climate change, leaders from AXA and the United Nations Environment Programme’s Financial Initiative - Principles for Sustainable Insurance co-hosted an event today at AXA’s Paris headquarters to release the full findings of the “Business Unusual” report and debate practical solutions to tackle the effects of climate change in cities and businesses across the world. 

Find more details about today’s event and how the U.S. compares to other countries surveyed in AXA’s “Business Unusual” report here.  

And to learn more about AXA’s commitments on climate change, click here.

“This report shows that certain cities have made great strides to become climate-resilient. But much remains to be done,” said Henri de Castries, Chairman and CEO of AXA. "We hope the findings outlined in this report will provide useful insights for public authorities and businesses alike to better plan for the consequences of global warming. And it is our conviction that thanks to its expertise in risk modeling and prevention, crisis management and better repair, the insurance industry of which AXA is one of the driving forces will become a decisive partner in this global effort to develop resilience to climate change,” he added.

*Editor’s note: Base U.S. SMEs: 100. SME decision makers are defined as those with decision making authority for their entire organisation, or multiple departments or divisions within it, in companies with between 10 and 250 employees

About AXA

“AXA” is a brand name of AXA Equitable Financial Services, LLC and its family of companies, including AXA Equitable Life Insurance Company (NY, NY), MONY Life Insurance Company of America (AZ stock company, administrative office: Jersey City, NJ), AXA Advisors, LLC, and AXA Distributors, LLC. In business since 1859, AXA Equitable Life Insurance Company is a leading financial protection company and one of the nation’s premier providers of life insuranceannuity, and financial products and services distributed to individuals and business owners through its retail distribution channel, AXA Advisors, LLC (member FINRA, SIPC) and to the financial services market through its wholesale distribution channel, AXA Distributors, LLC.

AXA S.A. is a Paris-headquartered holding company for a group of international insurance and financial services companies, including AXA Equitable Financial Services, LLC companies. AXA S.A. is a worldwide leader in financial protection strategies and wealth management with 103 million clients in 59 countries as of Dec. 31, 2014. AXA S.A. has been ranked the No. 1 insurance brand in the world by Interbrand for seven consecutive years as of Oct. 5, 2015.

The obligations of AXA Equitable Life Insurance Company and MONY Life Insurance Company of America are backed solely by their claims-paying ability. Find AXA on FacebookTwitter and LinkedIn. For more information, visit www.axa.com.

GE-108770 (10/2015)

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