Allianz is a pioneer in sustainable investments. In 2011, Allianz signed the United Nations Principles for Responsible Investment (PRI) and since has increasingly taken social and environmental concerns into account. "We believe that considering sustainability risks and opportunities is the only way to generate attractive long-term returns," explains Gabriele Recke, Head of Sustainability at Allianz Leben. "After all, Allianz Leben and Allianz Private Krankenversicherung are long-term investors and need to take long-term risks and opportunities into account." Allianz's sustainability approach consists of several building blocks. "We select asset managers that are aligned with our sustainability preferences. We have clear exclusion criteria for controversial weapons and restrictions for investments into coal and fossil fuels," says Recke. Allianz’ sustainable approach includes a focus on renewable energy, such as wind power, and also maintaining a regular dialogue with non-governmental organizations (NGOs). For listed assets’ ESG (Environmental, social, good governance) performance is systematically evaluated and companies with scores below a threshold require the asset manager’s explanation or divestment. For unlisted investments, such as real estate assets or infrastructure, we conduct case-by-case reviews. We aim for positive, real world change and therefore our engagement process and ongoing dialog with the companies with which we invest, is integral to our strategy. "We want to actively drive the transformation to a low-carbon economy with our investment strategy," emphasizes Gabriele Recke. "As a large institutional investor, we can influence how companies produce. For us, it is about helping companies to transform along a sustainable path."
As a founding member of the U.N.-convened Net-Zero Asset Owner Alliance, we advocate for ambitious decarbonization strategies and financing by industry. Our commitment is net zero greenhouse gas emissions in our proprietary investment portfolio by 2050 and we’re working towards our first intermediate target to reduce greenhouse gas emissions in listed equities and corporate bonds by 25 % by 2025 compared to 2019. In addition, by 2025, real estate investments are expected to be on track for the 1.5-degree target in 2050. "And, importantly, we report annually on our progress, creating transparency for our customers and the public," says Recke.