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“Encouraging tomorrow” appears on the cover of the Allianz Group’s Sustainability Report published today. ESG expert Michael Bruch and his team are a good example of what this means to our daily activities. As the center of competence for global Property & Casualty insurance, they assess particularly sensitive environmental, social and governance (ESG) risks, and develop solutions for and with our customers. Their work has nearly tripled in the past year.
Mr. Bruch, which sectors are sensitive for Allianz and why?
Together with non-governmental organizations, we have identified 13 sectors over the last few years that are especially exposed to environmental, social and governance risks. These include mining, hydro dams, infrastructure, oil and gas, and nuclear as well as topics like human rights and defense. We have developed detailed criteria for all these sectors and topics, and applied them to all our business since 2014. As a concrete example, hydro dam construction entails resettling the affected population, and addressing the negative effects on biodiversity as well as occupational safety at the construction site.
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