“If Total were to pay for the carbon it emits today, the company would be at a loss”



Axylia, a financial consulting firm created in 2005, has a specialty: it is responsible for advising associations, foundations and other legal persons seeking to invest their financial reserves. Among them, the Little Brothers of the Poor or Asmae Association Sister Emmanuelle. Anxious to guide its clients towards socially responsible investments, and which correspond to the causes they defend, the firm has sought a way to highlight the carbon impact of listed companies without going through existing, very complex methodologies. Axylia publishes this Thursday its first ranking “Truth40”, a sort of CAC 40 which corrects in its calculation the results of companies according to their carbon impact. A way of putting the spotlight on the fragility of some and the strength of others, in a world where carbon will cost more and more… The composition of this “alter-CAC 40” is inevitably upset. Its founder, Vincent Auriac, explains the process.

The CAC 40 brings together the French companies which have the highest capitalization on the Paris Stock Exchange. You have built a new peloton of 40 listed French companies, but weighting their stock market performance with a carbon score. A criterion that is not taken into account today in the CAC 40 index …

Companies pay salaries, suppliers, all kinds of bills, but not the cost of carbon they emit. It is the community that takes care of it,

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