Corporate Responsibility Definition
"Corporate Responsibility" is the contribution of businesses to sustainable economic development and to the interests of society by taking responsibility for the direct and indirect impact of their activities on various stakeholders, including: customers, suppliers, employees, shareholders, communities and the environment.
Why does AXA believe sustainability and Corporate Responsibility warrant strategic attention?
• It is our inherent responsibility: as one of the world's largest corporations, we have a role as an international corporate citizen; and as a company whose business is to protect people over the long term, we have a responsibility to help build a more sustainable society.
• It is essential to build the trust of employees (CR is a key driver of employee motivation and engagement, and influences graduates' choice of employers), and the trust of customers, as CR is an increasingly significant driver of brand trust.
• It is a risk/opportunity management imperative: CR enables us to cut costs and to limit certain business and operational risks, while maximizing market opportunities in emerging or future commercial segments to generate new revenue streams.
AXA Corporate Responsibility Strategy
AXA's strategy is to place Corporate Responsibility both at the heart of its business as well as its day to day interactions with its stakeholders. It is through adopting a responsible behavior, as well as through sustainability added-value products and services, that the Group is able to most effectively participate in social, environmental and economic progress.
AXA's CR Strategy Rests On Six Main Pillars:
- Customers and products
- Share Holders
Corporate Responsibility Performance Monitoring And Rating
AXA Egypt environmental, social, and governance (ESG) performance is evaluated by various organizations, including rating agencies serving the research needs of the socially responsible investment (SRI) market.
AXA Materiality Analysis
An external analysis (including "megatrends" and media search) and an internal analysis (including a review of AXA's strategy and sustainability priorities) are performed each year to define a list of trends and issues.
BITC (Business In The Community) Benchmark
AXA Egypt Life Insurance Company scored 82% in BITC corporate responsibility benchmark for year 2014-2015. BITC is one of the leading corporate responsibility benchmarks in the United Kingdom used by corporates to monitor and benchmark their Corporate Responsibility against international standards.