Our global approach
Our approach to sustainability at Allianz
'We’re moving into a new phase of sustainability management where impact is front and center. This means setting ambitious commitments, such as our net-zero commitment, and playing a lead role in global partnerships to develop solutions.'
Chief Sustainability Officer
We live our commitments through our strategy
Our strategy drives us to create real-world impact on the economy and society. We want to be a role model in our industry and drive progress towards a net-zero carbon economy. As a financial services provider, our approach is naturally grounded in risk management and capturing positive opportunities.
How do we embed sustainability?
The Sustainability Committee of the Group Supervisory Board is the highest governing body on sustainability related topics for the Allianz Group. The Sustainability Committee exchanges regularly on ESG issues which are relevant for economically sound and sustainable development, as well as for the reputation of the Allianz Group. It closely monitors the Board of Management’s sustainability strategy as well as the Personnel Committee’s oversight of the Board of Management’s ESG-related target setting.
Group Sustainability Board
Established in 2012, the Group Sustainability Board consists of Allianz SE Board Members and leaders of selected functions who meet quarterly. The Group Sustainability 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 Sustainability Board which in turn reports to the Board of Management.
In addition to the Sustainability Committee and the Group Sustainability 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 such as insurance and investment referrals.
Group Underwriting Committee
Monitors the underwriting business and its risk management, as well as developing new underwriting policies and strategy.
Group Investment Management Board
Monitors the investment approach for proprietary assets and sets the high-level agenda, including the ESG integration approach.
Group Center for global sustainability
Since January 2021, responsibility for Allianz’s sustainability agenda is led by the Group Center Global Sustainability, headed by a Chief Sustainability Officer who reports to the Chair of the Sustainability Board. Global Sustainability supports Allianz operating entities around the world in integrating the Group’s strategic sustainability approach and policies into their organization and business processes.
We are committed to transparent reporting
Sustainability ratings promote transparency and trust among customers, investors and other stakeholders. We strive to be a sustainability leader in our sector, and we take part in sustainability ratings and industry benchmarks to improve our performance and transparency.
In compliance with the German implementation of the E.U. Non- Financial Reporting Directive (2014/95/EU), we publish relevant non-financial information within the Governance section of the Group Annual Report. This so-called Combined Separate Non-Financial Report is approved by the Supervisory Board of Allianz SE and assured with reasonable assurance by PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC).