Net-Zero transition plan – leading the way and driving the change

Allianz is leading the way in the financial services industry with its first net-zero transition plan that lays out the details for its 2030 intermediate targets to decarbonize own operations, proprietary investment, and P&C underwriting. Setting intermediate targets, implementing the necessary changes in its global business and reporting on the work is what drives the change.

Highlights include:

  1. Targeted 45% reduction in emission intensity across multiple lines of Allianz's corporate insurance business, which consists of large corporate customers that already report their greenhouse gas emissions. 
  2. For the retail car insurance portfolio, Allianz is targeting a 30% reduction in carbon emissions by 2030 in nine key European markets (Austria, Belgium, France, Germany, Italy, Netherlands, Spain, Switzerland, UK). The base year for these decarbonisation targets is 2022.
  3. Allianz has already surpassed the 2025 intermediate target for its proprietary investment portfolio. The new target is now to halve emissions by 2030 compared to 2019, with a special focus on actively driving emissions reductions in the energy, steel and automotive sectors.
  4. Scaling renewable energy and low-carbon technology: Allianz to profitably grow revenues from transition solutions in commercial insurance portfolio by 150% and provide additional investments of 20 billion euros by 2030

This plan defines how Allianz is going to contribute to the economic transformation towards a net-zero economy. It was first published in September 2023 and implements a further recommendation of the United Nations’ High-Level Expert Group on the net zero commitments of non-state entities.

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.
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:
Allianz spearheads Sustainable Investments with Net-Zero Asset Owner Alliance's comprehensive new protocol

The Net-Zero Asset Owner Alliance (NZAOA) is leading the financial industry towards a sustainable future. It has recently released the fourth edition of its Target-Setting Protocol, a comprehensive guide that outlines the pathway for investors to reduce portfolio emissions significantly by 2030, aligning with the 1.5°C ambition set forth in the Paris Agreement.

Dow Jones Sustainability Index recognizes Allianz as a Sustainable Insurer and underpins transition efforts – “It’s an incentive to continue our work!”

Allianz received a score of 82 (out of 100) in the 2023 Standard & Poor (S&P) Global Corporate Sustainability Assessment (CSA), underlying the Dow Jones Sustainability Index (DJSI), as of 24 November 2023. The results reflect Allianz's long-standing commitment to driving positive social and environmental change as well as building meaningful partnerships to shape a better, more sustainable future.

COP 28: EIB and AllianzGI announce new capital commitments to the Emerging Market Climate Action Fund (EMCAF)

New capital commitments from the United Kingdom and German governments. / The fund invests in green transition funds and projects in emerging and developing markets worldwide. / Launched at COP26, EMCAF has already invested more than $100 million in five funds over two years. / EMCAF on track to hold its third close at €385 million in the coming weeks. (Article links to external site)