Dow Jones Indexes and sustainability investment group SAM published the results of their 2010 annual review for the Dow Jones Sustainability Indexes last week. Based on this latest review of companies Allianz retained its position among the sector leaders, coming in just a few decimal points behind Swiss Re's top overall score in the Insurance Super Sector.
Allianz again listed in DJSI World Index
Allianz also improved in a number of areas compared to last year. "DJSI recognizes Allianz as leading the insurance sector in Business Risks and Opportunities, Brand Management, Human Capital Development and Stakeholder Engagement," explains Dirk Reiche, Head of Allianz4Good, Allianz Group's center of competence for Corporate Social Responsibility and Sustainable Development.
In the "Business Risk and Opportunities" area, for instance, Allianz showed strong performance in integrating extra-financial considerations into core business processes, such as environmental, social and ethical risks as well as opportunities in underwriting, investment processes and product development.
In the area of Brand Management, DJSI specifically recognized Allianz for its alignment of branding and sustainability strategies within the company, enabling clear communication to customers.
"Evolve with the business"
"Sustainability is a part of what we do at Allianz. It is core to our business strategy. However, it's not enough to 'just do it'. We also need to transparently communicate our environmental, social and governance performance to our stakeholders. Of course, it's an added bonus to be recognized in the DJSI for our efforts," says Julia McNally, Head of Sustainable Development at Allianz.
"There is still opportunity for improvement in our rating," adds Dirk Reiche. "Our job is to ensure that our sustainability strategy evolves with our business and the challenges we face. As our initiatives mature and we develop new insights, we also expect Allianz's sustainability performance to improve further."
As a direct response to the financial crisis, Allianz pledged to foster financial literacy among young people. Last year, the company helped to launch My Finance Coach – an independent financial literacy initiative driven by Allianz volunteers and external partners to familiarize 11 to 15-years olds with money issues and help them make educated financial decisions.
About DJSI
The Dow Jones Sustainability Indexes track the financial performance of the leading sustainability-driven companies worldwide, and provide asset managers with reliable and objective benchmarks to manage sustainability portfolios. Companies included in the DJSI must meet stringent criteria. The annual review of the DJSI family is based on a thorough analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, branding, climate change mitigation, supply chain standards and labor practices. It accounts for general as well as industry specific sustainability criteria for each of the analyzed 57 sectors which roll up into 19 Super Sectors.
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