, 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.
Our goal is to source 100 percent of our global electricity needs from renewable sources by 2023.
In scope is all electricity all entities of Allianz Group need for the office buildings and data centers we use for our operations.
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.
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.
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.