What does “ESG” stand for, and why is it important for Allianz’ business?
Urs Bitterling: Environmental, social and governance risks, but also opportunities, have an increasing impact on our customers and our business. A good example are rising climate risks like heavy rains and floods, but also governance issues. The better and the earlier we are able to identify and understand these risks and opportunities, the better we can insure and invest.
Why does ESG require an “Integration Framework”? And how does it help in your daily ESG work?
The framework will help us to ensure a joint approach and further development in the organization and to build trust externally. Customers, business partners, investors, employees, but also societal actors like Non-Governmental Organizations want to know about the ESG approach of Allianz and how it is integrated across our Lines of Business and departments. So the main reason is transparency, for internal as well as external stakeholders.