Allianz Climate Solutions
"We want to be Europe's leading climate finance adviser"
Allianz Climate Solutions was founded in Germany in August 2007. In an interview, General Manager Armin Sandhövel discusses the tasks and targets ahead.
Sandhövel: "Clients are becoming increasingly reliant on information about the effects of climate change"
Mr. Sandhövel, previously you were coordinating the activities of the Climate Core Group of Allianz. Why has a company of its own been set up now?
Sandhövel: It was the next logical step. It’s been on the agenda for some time. Analysis of the problem and strategies for the financial services industry must now be put into practice. Clients are becoming increasingly reliant on information about the effects of climate change on their business sector to make informed investment decisions. The need for advice and tailor-made solutions is growing. Allianz Climate Solutions offers both.
Is climate change a new line of business now?
Sandhövel: We’ve always emphasized that climate change presents not only risks but also opportunities. In its core activities – from insurance to financing by Dresdner Bank, and securitization by Dresdner Kleinwort to investments of Allianz Alternative Assets – the Allianz Group has long stressed the importance of renewable energy. We’re now the forerunner in the financial industry in this area thanks to our accumulated expertise, which has proved its worth in a variety of projects. We intend to become the leading climate finance adviser in Europe by 2011.
What do you plan to offer exactly?
Sandhövel: We’re helping companies adapt to climate risks, providing support for investment plans and – with the help of our colleagues at the Allianz Center for Technology – offering risk analyses for projects in the fields of renewable energy and the reduction of carbon emissions. We are also able to broker financial support of all kinds and through our network bring skilled project staff together. To this end we have set up an interdisciplinary team of experts in insurance, banking and asset management.
Will Allianz Climate Solutions also finance projects directly?
Sandhövel: We don't have any plans to do so, but for Allianz Group companies we're actively looking for investment opportunities in clean technologies, renewable energy and CO2 emissions trading.
This article first appeared in the employee magazine "Allianz Journal".
As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer, provided on the right.
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