The investment arm of French insurer AXA has vowed to be “brave and bold” by placing greater scrutiny on oil and gas companies it invests in — promising to sell out of any by 2025 it believes are not doing enough to reduce emissions.

AXA Investment Managers (AXA IM) said during the COP26 climate summit this week that from early next year it will apply “a stronger climate lens” to its investment decisions and that it will divest from what it called “laggards”.