The Axilya company continues to document the debate around the “polluter pays” principle. Specializing in responsible financial investment advice, in 2019 it developed the carbon score, which assesses a company’s ability to pay its carbon bill. It tells investors and individuals whether the company is truly profitable and responsible, after deducting the cost of the CO₂ it emits.
To establish this, Axilya evaluates the CO₂ emissions of around 600 European listed companies. The methodology identifies direct emissions – to manufacture the product, heat the offices, etc. – but also indirect, which integrates all emissions upstream and downstream of manufacturing. This ranges from purchases from suppliers to waste processing, including customer journeys. This volume of CO₂ is then converted into euros, based on the carbon price defined by the Intergovernmental Panel on Climate Change (IPCC).
This environmental cost is then compared to the company’s operating income. This results in a “carbon risk”, displayed in the form of a letter going from A to F. On the CAC 40 side, the poor performers, rated E or F in the latest ranking, are energy companies (TotalEnergies, Engie) , but also automobile manufacturers (Stellantis, Renault) or aeronautics (Airbus, Safran). The best operate more in tech (Capgemini, Dassault Systèmes) or consumption (L’Oréal, Kering, Hermès).