For the third consecutive year Allianz has been included in CDP's Carbon Disclosure Leadership Index. This index, a key component of CDP's annual Global 500 Report, highlights the constituent companies within the FTSE Global 500 Index which have displayed the most professional approach to corporate governance in respect of climate change disclosure practices.
Allianz recognized for climate protection efforts
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The index, compiled by PricewaterhouseCoopers (PwC) on behalf of CDP, comprises 67 constituents of the Global 500 Index based on PwC's analysis of the responses to CDP's 2008 Questionnaire which focused on greenhouse gas emissions, emissions reduction targets and risks and opportunities associated with climate change.
The Carbon Disclosure Leadership Index, which provides an evaluation tool for institutional investors, is made up of the top 34 companies selected from non-carbon-intensive sectors and the top 33 companies selected from carbon-intensive sectors.
Joachim Faber: "Allianz has supported the CDP from the beginning"
Honored for good corporate governance
"As global risk managers and investors, we have been supporting the Carbon Disclosure Project (CDP) from the beginning. The CDP is crucial for more transparency and understanding regarding carbon risks and opportunities on our way to a clean-energy and low-carbon economy," says Joachim Faber, CEO of Allianz Global Investors and member of the Allianz SE holding board.
The inclusion in the Carbon Disclosure Leadership Index honors Allianz good corporate governance in respect of climate change and Allianz' long term commitment to provide products as well as advise for its customers. For example with insurance solutions empowering customers to rebuild their homes according to the highest ecological standards. Allianz also transfer risks to the capital markets such as a disaster bond for flood risks and offers investment opportunities with the "Allianz Global Eco Trends Fund" – one of the most successful investment fund in the industry. Further, by 2010 Allianz will have invested more than 500 million euros in renewable energy.
Allianz sustainability report 2008 published
Allianz is strongly committed to its sustainable development strategy and consistently measure their outcomes. Additionally to the CDP, key elements and achievements are the international partnership with the WorldWide Fund For Nature (WWF) and the set up of a "Center of Competence on Climate Change" to develop and transfer best practice solutions on an international basis.
The company has published recently its sustainability report which describes in detail Allianz' work to build sustainable value for customers, employees, shareholders and the community. It also provides a balanced account of the sustainability performance in the year 2007 and 2008.
Paul Dickinson, Chief Executive of the Carbon Disclosure Project, commented: "Good corporate governance in respect of climate change disclosure will inevitably reap its rewards. As carbon regulation increases, those companies that have implemented climate change related strategies are clearly going to be in a far better position to meet the challenge of higher carbon prices than companies that have procrastinated. Good disclosure practices are synonymous with good management."
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