CEO's Perspective

“ After 128 years of a company history filled with changes, transformation has once again taken center stage in our strategy and demands our attention. It will determine not just how we do business, but how we live up to our corporate responsibility for the environment, climate and society as a whole, all over the world.”

 

Oliver Bäte

If you’ve earned and kept clients’ trust for considerably more than a century, you’re no stranger to sustainability. Not in business, and not in dealing with the environment you work in. In fact, our commitment to society is completely inseparable from our operations as one of the world’s largest insurers and asset managers, with over 92 million clients. They’ve chosen Allianz because they trust us. Because they’re sure that with us, their money is in good hands. Not to mention because
– today more than ever – they quite rightly expect us to deliver not just success for our clients, shareholders and employees, but positive contributions toward resolving the problems of society as a whole. And that will only work if we ourselves are the ones pushing transformation ahead on a global scale, both in business as well as at the societal level. 

 

Our understanding of Corporate Responsibility, and what we’re doing to support sustainable development, forms the basis of our Sustainability Report. It includes our consideration of the United Nations Sustainable Development Goals, and offers an overview of our entire commitment to corporate responsibility.

One example of our commitment is our climate strategy. This demonstrates how transformation, sustainability and profitability can go hand-in-hand. Since the 2015 Paris Climate Conference, nobody can reasonably deny that human-induced climate change (CO₂ emissions) represents not only a social and environmental risk, but also a considerable financial one. Therefore, everything we do must take into consideration ESG (environmental, social, governance) factors. We’re proud to say that we’re a pioneer in turning away from coal business – both as an investor and as an insurer. Our aim is that 100% of Allianz’s energy needs to come from renewable sources by 2023. And by 2050, we want all our assets to be climate-neutral.

Our Sustainability Report also provides detailed information about our application of ESG criteria at all levels of our business, and keeping our sustainability approach up-to-date. It is also about what we’re doing to promote social inclusion – including our Encouraging Future Generations program, which supports children and young people around the world. This segment of our sustainability strategy is particularly important to me. It pertains, for example, to our partnership with the SOS Children’s Villages, which our employees help support worldwide through efforts such as our Allianz World Run. The number of kilometers our employees run determines the size of our donation to the Villages. We’ve raised 1.4 million Euro over the last three years, with the participation of up to 10,000 runners in 123 countries. We also rolled out a new online mentoring program in which Allianz employees can provide advice to young people from the Villages, for example on how to prepare a job application.

I’m especially proud that Allianz is consistently viewed as a Corporate Responsibility leader. In 2018, for example, the Dow Jones Sustainability Index rated us the leader in our industry for the second time in a row. During the 2018 reporting year, the responsible investment strategies of Allianz SE, PIMCO and Allianz Global Investors received A+ ratings from the Principles for Responsible Investment. The MSCI ESG Research rating agency rated us AAA. As we see it, all of this confirms that our sustainability strategy is on the right track – even as we constantly continue to learn along the way.

I hope you enjoy reading our Sustainability Report and that it brings you a great deal of optimism about the future. And I hope you’ll join us in shaping a world that is healthier, less wasteful, more productive, more fair, and more sustainable.