All humans are entitled to basic rights and freedom. Allianz recognizes the importance of human rights, as both a value-based and a business issue. We see respect for human rights as a minimum standard for responsible business, both within and beyond our direct operations.
Respecting human rights
Commitment to human rights
The U.N. Guiding Principles on Business and Human Rights provide a framework for responsible business operations and activities. We are committed to respecting these standards and we have been a participant in the U.N. Global Compact (UNGC) – which covers human rights, labor standards, environmental protection and anti-corruption – since 2002.
We communicate our progress against these principles annually and publish our report on the publications page of this website.
The Allianz Group is committed to respecting human rights including:
- International Bill of Human Rights
- Universal Declaration of Human Rights
- U.N. Covenants on Human Rights
- Core Labor Standards of the International Labor Organization (ILO)
- OECD Guidelines for Multinational Enterprises
- U.N. Guiding Principles for Business and Human Rights
- U.N. Global Compact
Our approach
To manage our potential human right impacts, we must look across each of our roles as an insurer and investor, as an employer, as a company including our supply chain, and as a corporate citizen. For each of these roles, we have embedded processes to manage human rights risks and opportunities to drive positive change. We proactively and continuously review our impacts and take steps as set out in the Allianz ESG Integration Framework.
To find out more, see the Allianz ESG Guideline on Human Rights in the Allianz ESG Integration Framework.
Integrating human rights into our core business
As a corporate insurer and investor, our human rights due diligence process forms part of our overall ESG approach which is integrated into our broader risk management system. We use a combination of sector- and country-specific approaches to identify human rights risks.
Our thirteen ESG guidelines for sensitive business sectors include a sector-specific human rights guideline to ensure human rights aspects are checked as part of overall risk assessment for insurance and investments in non-listed asset classes. We also maintain a watch list for sensitive countries where systematic human rights violations may occur. We apply a general human rights guideline for all business in those countries.
In 2020, 32 ESG referrals were assessed under the Human Rights guideline. Additional details on these human rights assessments can be found in our 2020 Sustainability Report.
Respecting human rights as an employer
As an employer, we apply the Universal Declaration of Human Rights throughout our worldwide operations. We have integrated the ten principles of the UNGC into our globally binding Code of Conduct. We also respect the Organization for Economic Co-operation and Development (OECD) Guidelines for Multinational Enterprises. To support employee rights, we were one of the first companies to create pan-European worker participation standards and establish a European SE Works Council under the legislation for Societas Europaea (SE) companies.
We endorse the International Labor Organization’s (ILO) Declaration on Fundamental Rights and Principles at Work, including the ILO declaration on the freedom of association and the right to collective bargaining. In countries where local law prohibits formalized unions and works councils, we respect local law but do not obstruct parallel means of association and bargaining, and we strive to act in the spirit of the U.N. Global Compact principles.
Our commitment to foster workplace and gender equality goes to the core of our approach. In 2020, Allianz’s CEO Oliver Bäte signed a pledge to support the Women’s Empowerment Principles. This was followed in October by Allianz signing the B Team’s Principles for Equality which aim to ensure equitable, safe and dignified workplaces that respect human rights and allow people to thrive.
Respecting human rights in our operations
Human rights due diligence in our operations is also part of our ESG referral and assessment process. For procurement activities, a negative answer to ESG screening questions in the vendor integrity screening triggers an ESG assessment. In 2020, 101 vendors were assessed at Group-level following human rights triggers.
We extend our commitment to international human rights standards to the workforce of our suppliers and those impacted by our supply chain. Our Global Sourcing and Procurement department works with current and potential suppliers to ensure they abide by the ESG standards outlined in the Allianz Code of Conduct which align with ILO standards and the principles of the U.N. Global Compact.
Allianz is also committed to compliance with the Modern Slavery Act in the UK, both from the perspective of our UK business and the interactions of our wider Group. No issues were raised in regard to human rights issues in accordance with the Modern Slavery Act in 2020. We are committed to compliance and annual disclose under the Modern Slavery Agreement in the context of our UK business and the interactions of the wider Group.
Fostering human rights as a corporate citizen
Through our focus on social inclusion, we support projects and initiatives that foster human rights around the world. Our international network of 14 Allianz-affiliated corporate foundations aim to help tackle societal challenges to safeguard the future for the next generations. This network includes the Allianz Environmental Foundation, which is dedicated to responsible environmental management, and the Allianz Cultural Foundation, which works to promote intercultural dialogue and cooperation among young people.
While Allianz is keen to donate to charitable organizations, recipients must uphold our human rights standards. The internal Allianz Guidance for Donations and Charitable Memberships (Corporate Giving) stipulates that corporate giving can only be made to organizations that meet the principles set out in the Allianz Group Code of Conduct.
Grievance Mechanism
Allianz Group encourages all its stakeholders to contact us in case there is clear evidence of failure of Allianz Group’s responsibility to avoid any harm of human rights or its involvement in a human rights violation.
If you have information with regards to the above, you can contact the Allianz Group Compliance function.