The Score Carbone Axylia : An Innovative Tool for Responsible Finance

In a world where climate change poses major economic challenges, companies are facing an invisible but costly “carbon bill.”

Launched in 2019 by Axylia, a B Corp-certified responsible finance firm, the Score Carbone Axylia® is emerging as an innovative indicator. On a scale from A to F, it assesses a company’s ability to pay and reduce its carbon footprint over time. More than just an environmental metric, this tool links financial performance to climate commitments, helping executives navigate the green transition.

But how exactly does it help businesses ? And what concrete successes has it already achieved ? How does the Axylia Carbon Score work ? Here’s a closer look.

Thee Score Carbone is not a complex and opaque ESG rating. It is based on a rigorous methodology that is 100% French and aligned with international standards such as those of the IPCC (Intergovernmental Panel on Climate Change).

In ten key steps, it calculates a “carbon bill” by converting all CO₂ emissions (Scopes 1, 2, and 3 with the latter often accounting for 80% of total emissions, including suppliers and transportation) into euros. The price used is €148 per metric ton, higher than the current European market price (approximately €70) to reflect the true societal cost recommended by the IPCC. This bill is then deducted from the company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) to arrive at “carbon-adjusted” EBITDA. The final score, an average of a current assessment and a dynamic projection through 2030 (taking into account the projected increase in the carbon price of +4% per year), ranges from A (negligible carbon risk, profitability maintained) to F (carbon insolvency). If the data is incomplete or lacks transparency, the company receives an “ND” (not rated), underscoring the importance of disclosure.

This process incorporates official decarbonization pathways and recognizes actual efforts: an absolute reduction in emissions or alignment with the EU Taxonomy exceeding 50% can improve the score, even in the event of business growth.

Beyond compliance, a strategic opportunity..

For businesses, the Score Carbone Axylia® goes beyond mere regulatory requirements, such as the Corporate Sustainability Reporting Directive (CSRD), which mandates greater transparency regarding climate risks.

Here’s how it helps them in practical terms:

• A clear link between finance and climate: by adjusting EBITDA for carbon, it reveals a company’s “true” profitability in a carbon-intensive world. This enables executives to identify vulnerabilities and prioritize green investments, transforming a risk into a competitive advantage;

• A powerful communication tool: when dealing with demanding stakeholders (investors, customers, regulators) the Carbon Score provides a simple, visual indicator. Companies rated A or B can showcase it as a sign of carbon maturity, attracting capital and talent. For example, it addresses the concerns of central banks, which are increasingly incorporating climate risk into their monetary policies;

• A medium-term strategic projection: the dynamic dimension (through 2030) assesses the decarbonization trajectory, rewarding innovations (such as circularity or electrification). This helps companies anticipate future shocks, such as rising carbon pricing, and align their goals with the Paris Agreement;

• Continuous improvement and benchmarking: Companies can track their annual progress and compare themselves to their peers, fostering a drive for excellence. By emphasizing absolute rather than relative efforts, it encourages a real reduction in overall emissions.

In short, the Score Carbone is not punitive: it is incentive-based and inclusive, helping businesses build economic resilience while contributing to the goal of limiting global warming to 1.5°C.

Success Stories: From Adoption to Market Impact.

Since its launch, the Axylia Carbon Score has been one of the few initiatives to demonstrate practical utility and influence on the economic ecosystem. Recognized by figures such as François Gemenne (co-founder of the IPCC), Fabrice Bonnifet (C3D), and Hélène Valade (CSR Director at LVMH), it has been widely embraced by 30 companies representing 600 billion euros in market capitalization.

This success is closely tied to the project’s consistent principles and simplicity since 2019, which run counter to the CSRD’s half-hearted approach.

Investors have already invested 20 million euros in financial products based on the Carbon Score, while institutions such as the Institut Montaigne, the Institute for Sustainable Finance, the World Economic Forum (WEF) in Davos, and Alain Quinet reference it in their reports.

A major milestone is the Vérité 40 Index, which applies the Carbon Score to French companies listed on the (SBF 120). Its fourth edition, published in 2024, reveals that more than one-third of the CAC 40 (15 companies, including Airbus, Carrefour, and Renault) is “carbon insolvent”: for Airbus, the cost amounts to 70 billion euros—equivalent to 850% of its EBITDA—which would take nine years to repay.

Conversely, the index highlights “creditworthy” companies such as Getlink and Engie, driven by ambitious growth trajectories. The result: five new additions (Michelin, Safran, etc.) and a balanced sectoral breakdown, offering an alternative benchmark to traditional market capitalization. Bouygues, for example, received a B in 2024, praising the methodology for taking into account actual efforts to reduce emissions. Other “top performers” like LVMH proudly display their A or B ratings.

Axylia has even replicated the model for other markets, such as Belgium with the Be Truth index, launched in partnership with Kaya Ecopreneurs—proof of its exportable success. These advances have a systemic impact: by exposing the risks of “carbon-intensive” assets (recognized by the Banque de France), the Carbon Score is driving the financial sector toward greater transparency and accelerated decarbonization.

Toward a Carbon-Solvable Economy

The Score Carbone Axylia® is not just a tool; it is a catalyst for transformation. By helping companies internalize the cost of climate change, it paves a new path toward finance aligned with global imperatives. Its current successes—from adoption by major publicly traded companies to new stock market indices—make it a model to follow. In the future, paying your carbon bill could well become the new standard for profitability. And you—what Carbon Score would your company receive?