REUTERS/Arnd Wiegmann/File PhotoLONDON, June 16 (Reuters) - AXA Investment Managers is expanding its palm oil investment strategy to exclude companies involved in major land use controversies or in causing biodiversity loss due to soy, cattle and timber, it said on Wednesday.
Major fund managers, under pressure from end-investors and regulators, are focusing on more sustainable investment strategies.
AXA IM also has policies to exit coal investments and reduce its own carbon emissions.
Marco Morelli, executive chairman of AXA IM, said the company was "committed to fighting deforestation and natural ecosystem conversion, as well as supporting forest restoration to ensure habitat conservation and to limit global warming."
AXA IM said it would also increase engagement with companies it invests in in areas including palm oil, soy, timber and cattle to encourage them to preserve biodiversity.
Arnd, Marco Morelli, Carolyn Cohn, Jane Merriman
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