The Allianz Group has been carbon neutral since 2012 and has made a commitment to sourcing 100% of its global electricity needs from renewable sources by no later than 2023. This will cover the power demand for its data centres as well as its offices around the world.
As an insurer, Allianz no longer covers single coal-fired power plants or coal mines but instead has a set of products specifically designed to cover all the risks involved with the commercial operation of renewable power plants. This proposition includes providing specialist testing and inspection services for wind, solar and hydro operations.
Allianz is a founding member of ClimateWise and reports each year against the organistion’s 6 principles, including a commitment to incorporate climate change into its investment strategies. All investment managers are required to integrate ESG (environmental, social and governance) criteria into how they manage assets, meeting agreed ESG threshholds.
Allianz also sponsors a Climate Risk Research Award which offers funding to PhD students doing work focused on reducing the risk of extreme weather events and using technology to improve resilience to climate change.
The Group is proud to have been named the No 1 insurer in the Dow Jones Sustainability Index for the second year in a row. Their Sustainability Report is here.
