AXA and Luiss to jointly investigate the political and social challenges of climate change and the role of insurance in the green transition

The ethical, political, and regulatory dimensions of insurance against climate risks, particularly in Europe, as a tool for just climate action, will be the focus of the research activities of the “AXA Research Lab on Climate Change, Risk and Justice,” directed by Professor Gianfranco Pellegrino from the Department of Political Science at Luiss Guido Carli, established with the support of the AXA Research Fund (the global scientific philanthropy initiative of the AXA Group), AXA Investment Managers, and AXA Italy group.

The Lab, which will last for three years, will delve into the topic by invoking principles of justice, analyzing the potential roles of the private sector, financial institutions, and public policies in enabling fair insurance solutions, and addressing areas of regulation and governance to provide evidence-based responses to three fundamental questions:

• How can the private and financial sectors contribute to a just transition towards a net-zero economy?

• How can low-income communities be included in climate change adaptation efforts?

• What are the distributive impacts of climate change, and how can insurance help mitigate inequalities?

The research will promote studies capable of influencing policies through recommendations for stakeholders, encouraging new public-private synergies that promote inclusive, transparent, and fair insurance and protection models, where insurance can act as facilitators of climate action, guiding mitigation and adaptation efforts, and supporting green investments and sustainable adaptation strategies. The research aims to contribute to the debate on these issues, not only in academic circles but also in public discourse, providing concrete insights to address climate change and the protection gap that our societies are increasingly facing.

The “AXA Research Lab on Climate Change, Risk and Justice” was presented yesterday at Luiss, with Paolo Boccardelli, Rector of Luiss University, Lisanne Raderschall, Senior Partnerships and Development Manager, AXA Research Fund, and Federico Eichberg, Head of Cabinet, Ministry of Enterprises and Made in Italy. After the introductory greetings, there was a Lecture by Professor Pellegrino titled: “Climate Change and the Ethics of Just Insurance”.

The event, which concluded with remarks from Giovanni Orsina, Head of the Department of Political Science at Luiss, also hosted a roundtable featuring: Maria Siclari, General Director of ISPRA; Letizia d’Abbondanza, Chief Customer and External Communication Officer at AXA Italy; Pietro Martorella, Co-Head of the Core Client Group at AXA IM; Enrico Giovannini, Co-Founder & Scientific Director, Italian Alliance for Sustainable Development – ASVIS.

Paolo Boccardelli, Rector of Luiss University: “Addressing the transition to a green economy represents an epochal challenge that requires adequate and inclusive social policies. Achieving climate neutrality is not only a necessary goal but a historical imperative. It is our responsibility to ensure that no one is left behind during this process. Thanks to the support of the AXA Research Fund, Luiss will have the opportunity to provide concrete support to today's and tomorrow's decision-makers through excellent research and high teaching standards.”

Chiara Soldano, CEO of AXA Italy: “Climate change is not just an environmental challenge but a complex phenomenon that requires multidisciplinary solutions and increasing awareness from everyone. That’s why we are pleased to present this new Lab today, born from the collaboration with Luiss, to explore, through scientific research, the role that insurance can play in facilitating a just transition towards a net-zero economy and the potential synergies between public and private sectors that can more effectively address protection gaps. The Lab represents a further concrete commitment, in line with our strategic plan, to contribute to building a more equitable and inclusive society.”

Marie Bogataj, Global Head of Communications, CSR and ESG Development at AXA IM: " AXA IM has a long-standing commitment to academic research, which is a key driver for fostering a more sustainable and inclusive future. This partnership with LUISS illustrates our commitment and serves as an integral part of our Global Philanthropy Programme, ‘Empowering Sustainable Futures’. Through this programme, we have supported initiatives such as the AXA IM Research Award and research programmes in other top tier institutions over the years".

Julia D’Astorg, Head of the AXA Research Fund: “With its mission to explore the ethical, political, and regulatory dimensions of climate risk insurance, the AXA Research Lab reflects our philanthropic commitment to advancing science and fostering meaningful dialogues that promote fairness, resilience, and a just transition to a net-zero economy”.

Prof. Gianfranco Pellegrino: “A fair and solidarity-based market for insurance against climate risks is not only possible and morally legitimate, but also beneficial for a coordinated action by all to curb climate change, adapt to ongoing changes, and protect nature and society from the most harmful effects of a changed climate”.