Allianz adapts guidelines to accelerate the shift to renewable energies

With the world’s clean energy transformation gathering strength, Allianz Group is adapting its guidelines to pragmatically provide insurance and investment in renewable energy projects. The changes aim to support and speed up the transition of energy companies, particularly in Asia and Eastern Europe, where the adaptation from coal to renewables is difficult and less advanced than in Europe or the United States.

Allianz is strongly committed to the climate targets of the United Nations to limit global warming to 1.5°C. However, reaching net zero requires a drastic four-fold increase in renewable energy this decade. The new Allianz guidelines support traditional energy companies to rapidly transition to clean energy business models, including green hydrogen, geothermal, bioenergy, on and offshore wind, solar and tidal. By that we harmonize the approach taken to these technologies in our guidelines on coal, oil and gas to further accelerate the world’s drive to net zero emissions.

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Anja Rechenberg
Allianz SE
The Allianz Group is one of the world's leading insurers and asset managers with around 125 million* private and corporate customers in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 746 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.8 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2023, over 157,000 employees achieved total business volume of 161.7 billion euros and an operating profit of 14.7 billion euros for the group.
* Including non-consolidated entities with Allianz customers.
** As of March 31, 2024.
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