Why We Care
As global risk managers, we care about climate change because it directly affects our business and because we have the expertise and means to influence the way in which we all react to climate change.
Climate change is one of the greatest challenges facing the insurance industry, which is why financial organisations like Allianz have commissioned some of the most in-depth studies into global warming.
Every hailstorm, every hurricane, every flood causes damages insurers have to pay for. In the past 30 years there has been a 15-fold increase in weather-related claims and 40% of all damages that Allianz now pays out are due to natural catastrophes. Between 2010 and 2019, average losses for the insurance industry could grow to US$41 billion per annum.
But importantly, climate change is not only about managing risks, it is also about tapping markets of the future. Financial institutions are key players in growth markets ranging from renewable energy and energy efficiency, to eco-friendly investments and to carbon trading. In 2007 we launched our new Allianz Climate Change Solutions subsidiary to advise businesses how to adapt to climate change risks and seize opportunities arising from climate policy making.
These are just a few examples why climate change is one of the issues which are of most concern to our stakeholders, and one of the most important trends that we have to manage.
Read more under:
Climate Change
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Allianz and its special relationship with the World Wide Fund for Nature.
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Allianz has a comprehensive set of actions on climate change.
“We see raising claims due to natural catastrophes and have a vested interest in reducing global warming. Our industry has been at the forefront of this debate for a long time.”
Clement B. Booth, Allianz Board member
Clement B. Booth, Allianz Board member
Environmental Management and Carbon Footprint
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The framework that guides our environmental activities.
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How we control our environmental impact.
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The targets that help us stay focused on a sustainable future.
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A detailed look at how we are reducing our environmental impact including moves to measure our indirect C02 footprint.
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How we communicate the message of sustainability across the Group.
