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Our Corporate Responsibility Governance

The Group ESG Board is responsible for integrating ESG into all business lines and core processes dealing with insurance and investment decisions. It also leads on associated stakeholder engagement.

The highest governing body for sustainability-related issues is the Group ESG Board. Established in 2012, it consists of Allianz SE Board members who meet quarterly. The Group ESG Board is responsible for integrating ESG into all business lines and core processes dealing with insurance and investment decisions. The Board members assume responsibility for specific sustainability topics and functional departments provide regular updates on sustainability issues directly to the Board.

Dr. Günther Thallinger

Chairman of the Group ESG Board 

Member of the Board of Management of Allianz SE, responsible for Investment Management, ESG

Jacqueline Hunt

Member of the ESG Board

Member of the Board of Management of Allianz SE, responsible for Asset Management and US Life Insurance

Barbara Karuth-Zelle

Member of the ESG Board

Member of the Board of Management of Allianz SE, responsible for Operations and IT (COO)

Christopher Townsend

Member of the ESG Board

Member of the Board of Management of Allianz SE, responsible for Global Insurance Lines & Anglo Markets, Reinsurance, Middle East, Africa

Jacqueline Hunt

Aylin Somersan-Coqui

Member of the ESG Board

Chief Risk Officer of Allianz SE

In addition to the Group ESG Board, several committees with Board member leadership play an important role in our decision-making processes:

Group Finance and Risk Committee
oversees risk management and monitoring, including sustainability risk. The Committee is the escalation point for ESG-related topics, based on analysis and deliberations within the Group ESG Board.

Group Underwriting Committee
monitors the underwriting business and its risk management, as well as developing new underwriting policies and strategy.

Corporate Responsibility Management

Our Group-level Corporate Responsibility management team is responsible for managing the strategic framework for all Group-wide sustainability activities, developing and introducing relevant policies, and supporting operating entities in integrating the Group’s strategic approach and policies.

The Corporate Responsibility department is responsible for the strategic framework that drives all group-wide sustainability activities. Its scope includes managing CR governance and fulfilling external reporting and rating requirements. The team also supports operating entities to effectively integrate the Group’s strategic sustainability approach and policies into their business processes. The Head of Group Communications and Corporate Responsibility, reports directly to the CEO of Allianz SE. This ensures a close alignment with the CEO’s agenda. 

CR Governance Structure


Our strategy shapes and increases our contribution towards delivering the Sustainable Development Goals. It also reaffirms our  commitments to the principles of the United Nations Global Compact (UNGC), a voluntary initiative based on CEO commitments to implement 10 universal sustainability principles in the fields of  human rights, labor standards, environmental protection and anti-corruption. We have been a participant in the UNGC since 2002 and it is included in our Code of Conduct.

We base our approach and reporting on voluntary international standards and guidelines such as the Global Reporting Initiative (GRI) guidelines, sustainability indices, and engagement with expert working groups such as the United Nations Environment Programme Finance Initiative.

Our annual UNGC communication on progress and the German Sustainability Code (GSC) reports can be found on our website, as well as on the UNGC and GSC websites.

In compliance with the 2017 German implementation of the EU Non-Financial Reporting Directive (2014/95/EU), we published relevant non-financial information within the Governance section of the Group Annual Report 2019.

The combined separate non-financial report is being audited by PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC) and is to be approved by the Supervisory Board of Allianz SE.

You can find our combined separate non-financial report starting on page 41 here.

Data and Assurance

To enhance the quality of our sustainability reporting and data, our full sustainability report has been assured to a limited assurance-level by PwC since reporting year 2016. This helps to formalize the way sustainability is embedded across core functions and business units. A sample of operating entities of Allianz SE are audited by PwC on a regular basis depending on their impact on the Group’s Sustainability activities. You can find the current assurance report in section 06.8 of the Sustainability Report 2019.

Ratings and Benchmarks

Our objective is to continuously improve our performance and to strive for sustainability leadership in our sector. We see sustainability ratings as tools to promote transparency and trustworthiness towards markets and stakeholders. As an investor, we rely on these ratings as part of our long-term ESG integration approach for proprietary investments, as well as in the responsible investment products offered to our asset management customers.

As we strive to be a sustainability leader in our sector, sustainability ratings and industry benchmarks provide an important opportunity to improve our performance and transparency. We also rely on these ratings to support long-term ESG integration across our proprietary investments and the responsible investment products offered to our asset management customers. We take part in a wide range of external assessment and benchmarking initiatives, including:

Dow Jones Sustainability Index (DJSI)

Allianz has been included in the DJSI with top ranking positions since 2000. In 2019, we took the leading position within the insurance sector for the third year running, scoring 88 out of 100 points.

Carbon Disclosure Project (CDP)

Allianz Group was a founding member of the CDP and we continue to support it as a responding company and as an asset owner and asset manager. Allianz has been listed in the Carbon Disclosure Leadership Index from 2011 to 2015. In 2019, we achieved a C rating.

FTSE4Good Index

Included since 2001, Allianz is one of the longstanding members of the FTSE4Good Index series. We were ranked among the top 8% of our sector in 2019.

MSCI Rating

In 2019, Allianz once again received AAA rating from MSCI ESG Research. We are one of the top performers in our sector.

ISS ESG Corporate Rating

Allianz has once again received Prime status in 2019, which ranks us among the world’s best companies in our industry.


Commitment to sustainable development principles

Our businesses are signatories to and members of a wide range of global sustainability initiatives and principles, which guide us to:

  • Incorporate best practice sustainable development principles into our activities, products, services and investments;
  • Work with and learn from our peers through open dialogue and knowledge sharing;
  • Collaborate to find solutions that address local and global challenges relevant to our industry and beyond; and
  • Improve transparency in our own operations and across the value chain.

Allianz is a signatory of the United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Sustainable Insurance (PSI), a working group dedicated to integrating sustainability into investment management.

Allianz SE, Allianz Global Investors (AllianzGI) and the Pacific Investment Management Company (PIMCO) are also signatories of the UN-supported Principles for Responsible Investment (PRI), which aim to integrate ESG principles into investment decisions and management. Together, its network of international investor signatories represent more than 60 trillion U.S. Dollars of assets under management.

As asset managers, Allianz SE, AllianzGI and PIMCO also report annually on the progress made implementing the PRI. You can find our full PSI and PRI disclosures in our Download Center.