Allianz supports the shift to a climate-friendly economy with an ambitious sustainability approach for its business segments as well as operations. Over the next five years, the company will therefore also reduce climate gases from its operations by 30 percent (compared to 2019). The company already offers numerous customized products and solutions with environmental or social benefits and is a leader in renewable energy financing. "With change, we start with ourselves - to then support others to move towards carbon neutrality. We are convinced that integrating climate and sustainability aspects will have an impact on our investment strategy," explains Dr. Günther Thallinger, member of the Allianz SE Board of Management responsible for Investment Management and ESG. "This allows us to mitigate climate-related risks and take advantage of opportunities offered by future-oriented business models."
The reduction of the portfolio carbon footprint is achieved in 5-year steps. Ultimately, companies that match Allianz's investment profile and follow a 1.5-degree path will increasingly be held in the portfolio. This is implemented, among other things, through active dialog with the companies and specifications of climate protection targets. Emissions are also reduced by expanding investments in climate-positive technologies and by refraining from investments in carbon intensive business models.
"The past year has clearly shown: Markets and countries must learn to deal with new risks such as pandemics, climate change and social unrest. It is the most important task of the coming decade to shape a sustainable economy and society," says Oliver Bäte, Chairman of the Board of Allianz SE. "We will therefore intensify our partnerships with politics, business and civil society for a climate-friendly and socially just future."