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Tackling climate change

Climate change is accelerating worldwide, reshaping the world around us and affecting people, businesses, and communities. As a global insurer and investor, Allianz is responding with a holistic climate strategy that includes mitigation and adaptation.

Mitigation addresses the causes of climate change by reducing greenhouse gas emissions. Allianz supports the transition toward a low-carbon economy through its insurance and investment decisions and by lowering the footprint of its own operations.

Adaptation involves anticipating and adjusting to the consequences of climate change, such as increasing extreme weather events. Allianz supports adaptation by helping our customers understand and manage climate risks, improve preparedness, and recover quickly after climate-related events.

Climate change mitigation

In September 2023, Allianz announced its Inaugural Net-Zero Transition Plan and 2030 decarbonization targets across proprietary investments, P&C and commercial underwriting, and own operations.

Allianz is committed to making its insurance business and the investment of proprietary assets net-zero by 2050. Emissions from business operations are to be reduced by -65% by 2030 from a 2019 baseline.

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To deliver on our ambition, we have set key decarbonization actions encompassing restrictions on fossil fuels, strategically steering our portfolios, engaging with stakeholders — particularly our clients and investee companies — improving energy management across our operations, and scaling up support of renewable energy and low-carbon technologies.

While our commitment to achieving our net-zero goals is independent of our involvement with membership associations, we believe that effective partnerships can promote greater transparency, faster implementation and more equitable outcomes. Therefore, Allianz is a strong supporter of initiatives working to fight climate change. Allianz in the past was a member of the UN-convened Net Zero Insurance Alliance (NZIA) and today continues to focus on the work of the UN-convened Net Zero Asset Owner Alliance (NZAOA), to which Allianz is a strong contributor of leadership and expertise as founding member and chair until 2024. The NZAOA  published its 4th Progress Report in October 2024, showing that very ambitious targets can be achieved and that absolute emissions are already falling.

Climate adaptation and resilience

Why climate adaptation matters

Climate change is already causing economic and social challenges that will only intensify without action. Adaptation is essential to protect communities, preserve assets, and ensure resilience.

Guided by our internal purpose, “We secure your future,” the objective of our climate adaptation strategy is to help keep assets insurable and insurance affordable, now and in the medium term. By improving resilience today, we help protect assets, people, and economies from escalating climate impacts.

Objectives of our climate adaptation strategy

Allianz’s climate adaptation strategy focuses on expanding our internal capabilities, supporting customers, and contributing to societal resilience.

1. Strengthen Allianz’s own capabilities

We continuously enhance our data, models and underwriting capabilities to reflect a changing climate. This involves investing in new technologies and building the right skills in our teams, including the use of AI and advanced analytics in risk modelling, to better understand and manage climate-related risks and develop solutions that support our customers over the long term.

2. Support customer resilience

We help homeowners and companies understand their climate risks and take effective steps to strengthen their resilience. This includes sending extreme weather alerts so customers can prepare, offering risk-assessment tools such as GloRiA for households and CAReS for businesses, and providing tailored advice on how to build resilience. We also ensure fast claims support in the event of a catastrophe and adjust insurance products, for example, by helping customers rebuild their houses stronger after an event.

3. Contribute to societal resilience

We partner with public bodies, NGOs, and research institutions to improve climate risk awareness, strengthen disaster preparedness, and support communities through emergency aid and long-term resilience programs. We also provide thought leadership, share data and expertise, and support scientific research, for example through the Allianz Climate Risk Award.

Climate-related opportunities

By combining decarbonization with new opportunities, we aim to support people and business in their transition to a more sustainable future. To drive sustainable growth, we aim to strategically invest in and profitably grow revenues from low-carbon technologies. For example, in commercial insurance, we develop insurance offerings for low-carbon solutions and in motor retail insurance, we encourage customers to switch to battery electric vehicles. Furthermore, we have been investing in renewable energies, such as wind farms, since 2005, and now insure projects in over 70 countries worldwide.

Relevant Links

Sustainability Statement

Detailed information Allianz’s on climate mitigation and adaptation strategy and stress tests in our audited Sustainability Statement, part of the Allianz Annual Report.
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Information hub on natural catastrophes

Learn about prevention measures to reduce risk and discover tips you can apply before, during, and after extreme weather events.
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Climate Adaptation & Resilience Services (CAReS)

Allianz’s climate risk assessment tool for companies.
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GLORIA (Global Risk Assessment Tool)

Allianz’s risk assessment tool (GLORiA) for homeowners, covering floods, wildfire, earthquake and other relevant risks.
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Research Publications

Allianz explores global climate adaptation challenges, including economic impacts, funding gaps, protection gaps and the urgency of strengthening adaptation measures at scale.
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Annual sustainability reporting

Reporting, disclosures and additional publications from Allianz.
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Allianz Climate Risk Award

Launched in 2017, the Allianz Climate Risk Award acknowledges and rewards young scientists whose works shed light on the nexus between climate change and the extreme weather events that threaten millions of livelihoods and present ways these populations could be better protected.
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Insurance Development Forum (IDF)

Allianz is a member of the public-private partnership that facilitates growth and development of insurance-related capabilities.
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