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Sustainability at Allianz: why we do it

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Corporate Responsibility

Allianz SE
Königinstraße 28
80802 Munich

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Allianz warmly invites all stakeholders to provide feedback to and comments on this Sustainable Development Report.

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A detailed glossary of terms and acronyms used in this Sustainable Development Report

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We strive to do sustainable business and offer sustainable products and services. Dialogues with our stakeholders help us to find solutions to global and local challenges. We protect natural resources, the environment and contribute to a low-carbon economy.

As a global insurer and long-term investor, sustainability is part of our DNA. We think in long-term outcomes and how we can make the world a more resilient place. We help our customers to cope with challenges such as climate change and natural catastrophes, personal safety and data security risks and momentous changes sweeping society.

Our approach

As an insurer and long-term investor, social and environmental responsibility is fundamental to our day-to-day business because we commit to deliver on our promises for our customers not only today but also in the coming decades. Over the last 126 years, we have built systems and processes that help us to do business in a sustainable way.

If we are to deliver our ambition of being the most trusted financial institution and a global sustainability leader, we must continually adapt our business strategy in response to the most pressing issues. In 2015, our CEO Oliver Bäte, announced our new company strategy, the Renewal Agenda, which is about building on our strengths and tackling the challenges of the present and the future in a proactive way. In 2016, we continued to develop and implement our approach, building on the five pillars of our success – our integrity, financial strength, technical competence, operational excellence and talent base. Read more about the Renewal Agenda here.

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What matters most

Our most material issues are those that are perceived as vital for business success and sustainability by our stakeholders and by Allianz. We engage with key stakeholder groups to identify what they see as materially important for sustainable development at Allianz.

In 2016, we surveyed over 6,000 individual stakeholders about what they see as the most important global issues for Allianz and the potential solutions we provide. Many of these issues reflect global megatrends and societal or environmental change over recent years. Read more about our materiality process here.

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New Corporate Responsibility strategy

We have used the outcomes of this assessment to guide our reporting of issues and performance for 2016 and we will continue to use the insights to further develop our sustainability reporting, strategy and roles in the coming years.

Our refocused Corporate Responsibility Strategy is organized around three pillars through which we respond to our material issues:

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We are working to better align our Corporate Responsibility Strategy with our company strategy and integrating it further is a priority for the coming years.

Climate Change Strategy: Our Climate Change Strategy has been a key element of our Corporate Responsibility Strategy as it goes to the heart of our business model of protecting people and businesses from risk. Since its launch in 2005, the global response to climate change has been growing – our latest achievement after the divestment from coal-intense business models was the introduction of the Allianz ESG Scoring approach in December 2016. Our very own Center of Competence Allianz Climate Solutions (ACS) develops approaches to integrate risks and opportunities arising from climate change into Allianz’s business both for the investment and the insurance side. We also work to reduce our direct carbon footprint as a company.

ESG Strategy: As an insurer and investor, we also carefully manage so-called ESG risks (environmental, social, and governance risks) in underwriting, and incorporate ESG factors into our investment processes. This ESG integration is carried out by a global ESG screening process. Proposed changes or additions to the ESG guidelines are regularly reviewed. In 2016, we took a major step to increase transparency on our ESG integration efforts by making its ESG guidelines public. The Allianz ESG Integration Framework describes our ESG approach and decision-making criteria, including details on the international standards, frameworks, and guidance documents on which the Allianz approach is based.

Summing up our engagement, Katharina Latif, Head of Corporate Responsibility at Allianz SE states: “We work on integrating sustainability into our core business and maximizing the transparency of our sustainability performance. We are constantly analyzing opportunities to improve Allianz’s sustainability performance.”

Read more about our Corporate Responsibility Strategy and our strategic pillars here

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Our ESG approach

For insurance and investments alike, we always consider certain ESG (environmental, social, governance) factors. Here’s how we do business regarding those risks.

Sustainability Report 2016

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Read more about sustainable development at Allianz in our full PDF report.

Report 2016