Corporate responsibility is an important value driver internally and more and more externally as well. Ensuring a group-wide, strategic implementation of corporate responsibility management is difficult without an approach and system that shows progress and defines materially and strategically relevant topics, updated on a yearly basis. The bottom-up approach also ensures transparency and enhances corporate learning effects on material topics and global differences.
AXA’s Corporate Responsibility (CR) assessment tool enables the company to accurately monitor its CR performance, or “maturity”, on both local and group levels. This tool analyses over 70 factors over a wide range of CR-related criteria such as corporate governance, risk management, compliance, customer relationship management, environmental impact management, “green” products, micro-insurance, human capital development, community engagement, etc.
Each factor is weighted and rated according to the performance of the entity, which then receives an aggregate global rating out of 100, corresponding to its level of “CR maturity.” This rating places the entity on one of five levels of the CR maturity scale. This scale tracks progress across five stages: 1. “defensive” phase, 2. Compliance Stage, 3. Management Stage, 4. Strategic Stage, 5. Civic Stage.
Our 2015 target is to help entities achieve the “strategic” stage. In addition to being an evaluation process, this tool also serves as a guide to the development of local CR strategies, which the entities use to identify the measures required to formulate and adapt their own strategy. This “CR KPI” is included in local key performance indicators and dashboards.
The Corporate Responsibility assessment tool was supposed to be a single assessment and has evolved into a core tool to develop the CR strategy.
Each year since 2010, AXA entities have used this process to refine the analysis of their strengths and weaknesses and define a target improvement for the following year.
In 2013, the Group as a whole progressed by four points and six entities have now reached the strategic stage: AXA Mexico (73), AXA Spain (72), AXA Portugal (71), AXA UK (71), AXA France (69) and AXA Japan (69). They have achieved this by developing programs or initiatives adapted to their own specific local issues.
- Mexico: Fuerza AXA program, helps victims of natural disasters through the support of volunteer employees and the implementation of prevention campaigns
- France: program designed to automatically identify dissatisfied customers and respond promptly with an appropriate solution
Spain: Devotes 40% of its philanthropic investment to risk prevention and education programs.