AXA signs up to Insurance Development Forum’s resilient infrastructure plan

AXA has joined an initiative run by public-private partnership the Insurance Development Forum (IDF) to drive capital from the insurance sector towards resilient infrastructure projects in emerging and developing economies at risk from climate change and natural catastrophes.

The IDF launched the Infrastructure Resilience Development Blueprint in April this year, working with asset manager BlackRock to action the plan. The initiative plans to direct investment from insurers into the development of smaller and mid-size greenfield and brownfield commercial infrastructure projects. It covers sectors such as renewable energy, water, waste, transport, hospitals, education, housing, digital infrastructure and telecommunication in developing and emerging markets.

It will also support nature-based solutions driven to increase the resilience of vulnerable communities in developing and emerging economies at risk of climate change.

“The IDF’s ultimate aim is to provide a replicable, scalable solution for infrastructure resilience projects that can come to market quickly and thereby lead to near-term measurable positive outcomes for the resilience of vulnerable communities,” it said.

On joining the initiative, AXA said it is committed to the fight against climate change and is “fully mobilised” to act for a low-carbon society and economy.

“We are convinced that we must work together to strengthen our capacity to deliver strong results,” it said.

“Our involvement in the Infrastructure Resilience Development Blueprint reflects our commitment to leveraging insurance sector capabilities to support resilient infrastructure development and protect vulnerable communities, in addition to maintaining our usual investments objectives including risk selection and returns,” said Jean-Baptiste Tricot, group chief investment officer of AXA and also a member of the IDF’s operating committee.

Michel Liès, chair of the IDF Steering Committee, said AXA’s expertise and commitment “have significantly enhanced our collective efforts in constructing resilient infrastructure and protecting communities from climate risks”.

He added: “The momentum behind the Infrastructure Resilience Development Blueprint is growing rapidly, and AXA’s support stands as a strong commitment of the IDF to mobilise impactful insurance sector investments to achieve tangible, near-term results for vulnerable populations.”