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 ESG Board.
Group Underwriting Committee:
monitors the underwriting business and its risk management, as well as developing new underwriting policy and strategy.
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.
Allianz Climate Solutions – our center of excellence for climate change, with a focus on renewable energy, and responsible for the implementation of the Allianz Climate Change Strategy – sits with Allianz Re alongside the Group Environment Office.
On 1 January 2018, the Group’s Environment Office, as well as the experts for integrating climate change into the business, became part of the Corporate Responsibility department.
Our strategy shapes and increases our contribution towards delivering the Sustainable Development Goals. It also reaffirms our commitments to the Principles of the 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 GRI G4 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 a combined separate non-financial report alongside the Group Annual Report 2017.
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 here.
Our objective is to continuously improve our performance and to strive for sustainability leadership in our sector. We see sustainability ratings such as the Dow Jones Sustainability Index (DJSI) as tools to promote transparency and trustworthiness towards markets and stakeholders. In our role as a Responsible 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 its asset management customers.
In 2016, Allianz achieved its greatest improvement in the DJSI assessment so far: a +6%-point increase and up from Bronze to Gold in the RobecoSAM Yearbook since the previous year. Since its inception in 1999, Allianz has been included in the DJSI with top ranking positions each year since 2000.
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:
Allianz has been included in the DJSI since 2000. In 2017, Allianz Group took the leading position among all rated insurance companies. We have been included in the DJSI with top ranking positions every year since 2000.
Allianz Group supports the CDP as a responding company and as an asset owner and asset manager. We were also a founding signatory of the CDP. Allianz has been listed in the Carbon Disclosure Leadership Index from 2011 to 2015. In 2017 we achieved a B rating.
Included since 2001, Allianz is one of the longstanding members of the FTSE4Good Index series. In the 2017 assessment, we were ranked in the top 3% of our sector.
In 2017, Allianz once again received AAA rating from MSCI ESG Research. We are one of the top performers in our sector.
Allianz has once again received Prime status in 2017, which ranks us among the world’s best companies in our industry.
Our businesses are signatories to and members of a wide range of global sustainability initiatives and principles, which guide us to:
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.