Since 2005, the Allianz Group Climate Change Strategy has focused our efforts on encouraging solutions for tomorrow’s climate:

1. We anticipate the risks of a changing climate.

We identify and manage climate-related risks and opportunities as part of our business strategy and through our financial products and services. We screen investments for climate-related risks and exclude certain sectors, such as coal-based business models. We are improving transparency around climate-related disclosures and are working to further align our strategy and reporting with the recommendations developed by the G20 Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD).

2. We care for the climate-vulnerable.

We support our customers to reduce risks and minimise damage, compensate those who have suffered losses, and insure low-carbon developments. We work with peers, governments and the civil society to manage climate risks and ‘close the protection gap’, specifically in most vulnerable developing countries. We also support scientific research and innovation that improves society’s understanding of climate-related risks.

3. We enable the low-carbon transition.

We provide sustainable solutions for our customers, including insurance that supports renewables and energy efficiency around the world.

Working with the Science Based Targets initiative (SBTi) , we have committed to set long-term climate goals, linked to the Paris Climate Agreement’s target to limit global warming to well below 2°C, and we are committed to sourcing 100% renewable power for our group-wide operations by 2023.

Carbon reduction

We have an established carbon reduction strategy which manages CO2 emissions from our operations and supports the commitment we have made to minimising our environmental footprint. We have committed to reducing our CO2 emissions globally by 30% per employee by 2020, against a 2010 baseline.

In the UK, in 2019, Allianz Insurance achieved:

50% reduction

50% reduction in greenhouse gas emissions per employee, against a 2010 baseline through energy efficiency measures, increasing the use of renewable energy and promoting low carbon travel.

100% renewable

100% renewable electricity at office locations where Allianz has control over the supply.

38% reduction

38% reduction in energy consumption from office buildings per employee, against a 2010 baseline (target 42% by 2020).

We have a Group-wide Environmental Management System (EMS) that identifies the key environmental impacts from our operations:

We aim to:

reduce the amount and carbon intensity of the energy we use
reduce the environmental impact of our business travel
operate in a resource-efficient way, particularly regarding use of paper and water
minimise the environmental impact of the waste we produce through avoidance, reduction, re-use and recycling.

We continue to invest in video-conferencing and encourage employees to seek alternative options or more sustainable modes - such as rail or car-sharing to reduce business travel.

We have introduced various digital programmes to reduce the amount of paper we use; including greatly increased digital communications with customers. Our improved in-house printing technology and employee engagement activities have also helped reduce paper use.

Carbon Trust Standard

In recognition of our ongoing efforts to reduce our carbon emissions year-on-year we have been certified to the Carbon Trust Standard since 2010.

We are committed to reducing waste of all kinds and separating waste for recycling to avoid it going to landfill. We have a company-wide scheme to separate different kinds of waste, prior to collection, to maximise recycling. We also use various waste contractors around the UK to maximise post-collection separation and recycling.

Allianz CEO Oliver Bäte discusses climate change at the World Economic Forum

Allianz CEO Oliver Bäte joined climate change activist, Greta Thunberg and The New York Times to discuss how we can avert a climate apocalypse.

You can watch the panel discussion from the World Economic Forum here.

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