Allianz goes for 100% renewables 

Allianz joins RE100 with a target to source 100% renewable electricity across its global operations by 2023.

In May 2018, the Allianz Group committed to reducing its carbon footprint with a long-term goal in line with climate science. As part of our climate change strategy, we are investing in renewable energy assets. In total, we have financed 5.6 billion Euro with debt and equity investments, this includes 81 wind and solar farms (as of 31 December, 2017). Also, we provide high-level expertise in insuring renewable energy projects. Now, as another step on our way to tackle the risks of climate change, we have decided to join the RE100 initiative, led by the global initiative The Climate Group. We have committed ourselves to source 100% of our global electricity needs from renewable sources by no later than 2023. Relying on wind, water and solar power is the strongest lever to minimize carbon emissions from our operations. With shifting from fossil fuels to renewables, Allianz is joining forces with over 150 companies and is setting another mark on its way to drive the low-carbon economy.

Allianz RE100

What is RE100?

RE100, led by The Climate Group in partnership with CDP , is a collaborative, global initiative that unites more than 150 influential businesses committed to 100 percent renewable electricity to increase the demand for and delivery of renewable power.

What is the Allianz Group’s target under RE100?

Our goal is to source 100 percent of our global electricity needs from renewable sources by 2023.

What is in the scope of the commitment?

In scope is all electricity all entities of Allianz Group need for the office buildings and data centers we use for our operations. 

Why is Allianz joining the RE100 initiative now?

As an insurer, we are exposed to climate change in two ways: through policies covering damage caused by natural disasters and as large-scale institutional investors with significant stake in affected economies.

In 2018, we committed to reducing our carbon footprint long-term in line with climate science. As part of our climate change strategy, we are investing in and insuring renewable energy. Therefore, switching to 100 percent renewable electricity for our operations is a logical extension. 

What is the biggest challenge Allianz will face?

As an international business with operations in over 70 countries, we are aware that we will not find readily available renewable power supply in all these countries. To overcome this, we will use collaboration and good practice exchange with peers and other stakeholders.

What else is Allianz doing to reduce its carbon footprint?

Most material emissions from our own operations are due to energy consumption, business travel and the use of paper. To focus our efforts, we have committed to reducing carbon emissions by 30 percent per employee by 2020, against a 2010 baseline.
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