Allianz Global Investors, one of the world’s leading active asset managers, has today announced that it will implement a global exclusion policy that includes a dedicated coal policy. This new exclusion policy is a further example of AllianzGI’s commitment to tackling climate change by divesting from the single largest source of carbon emissions. This is in line with Allianz Group already established policy with its own assets.
As part of the broader exclusion policy, AllianzGI will also go beyond its current restrictions on investments related to cluster munitions and anti-personnel mines and will include restrictions on other types of controversial weapons.
The enhanced policy will become effective starting in December 2021 for all existing funds for which AllianzGI acts as management company (so-called “proprietary funds”) and will be the default policy for all new funds and mandates after this date, subject to authorisation of the relevant jurisdictions and completion of relevant documentation. In cases other than these proprietary funds, including institutional vehicles and segregated accounts, as well as subadvisory mandates, AllianzGI will seek the consent of the respective clients for the application of the policy. The policy provides further details on the specific application of these scoping principles, particularly in regard to our private markets business, as well as accounts in Asia Pacific.