This is the Sustainability Statement in the 2024 Allianz Group Annual Report, but our story begins much earlier. Allianz was founded 135 years ago to manage risk for customers, employees and society. The work detailed in the following report strengthens our ambition to use our expertise and global footprint to be a catalyst for sustainable growth in our industry and beyond.
For many years, we have strengthened societal resilience and growth. With our expertise in prevention, insurance, and investment, we act as a trusted partner to people and businesses navigating the effects of climate and social change, supporting the transition to more sustainable economies.
We aim to lead our industry by embedding strong environmental and governing standards into our everyday decision-making across our insurance and investment businesses. Our sustainability strategy delivers to our customers, our employees and our society respectively through our responsible products and being a responsible employer.
Climate change: The road to net zero
Since 2005, the Allianz Group Climate Change Strategy has focused our efforts on encouraging solutions for tomorrow's climate:
- We anticipate the risks of changing climate.
- We care for the climate-vulnerable
- We enable the low-carbon transition
As we bring our business, customers and society on a joint path, we have a range of achievements and targets which display our commitment to our 2050 net-zero goal. To find out more, please review our Net Zero Transition Plan.
Listen to our podcast on climate change
In this episode of our Insurance Tomorrow podcast, Vanessa is joined by Bethany Thomas, Head of Sustainability at Allianz UK, and Tim Maiden, founder of Green Small Business, to explore how climate risks are impacting businesses, how they can adopt sustainable practices and the key role brokers play. We dive into:
- How climate change is altering the risk landscape.
- What risks are becoming more prevalent.
- Sustainability best practices.
- How brokers can add value to their clients.
- Climate events and how brokers can help their clients stay resilient.
In 2024 we...
-47%
achieved a -47% greenhouse gas emissions reduction per employee vs. 2019.
100%
sourced 100% renewable electricity for our buildings (RE100).
24%
transitioned 24% of our corporate fleet to battery electric vehicles.
93%
trained 93% of our employees using our internal sustainability training modules.
-25%
achieved a -25% reduction in our investment emissions vs our 2019 baseline.
150,000
insured over 150,000 battery electric vehicles.
Creating social impact
We’re committed to being a socially responsible business and a trusted partner for our employees, partners and customers. Whether providing insurance or investing our customers’ insurance premiums, we consider the environmental, social and governance (ESG) risks associated with such transactions and the impact that these will have.
We are committed to social responsibility
As a global insurer and long term investor, sustainability is part of our DNA.
We think about long-term outcomes, the impact of our business and how we can make the world a more resilient place.
A responsible employer
We believe that a diverse workforce allows us to better understand and meet the needs of our equally diverse customer base. We foster an inclusive culture and are committed to providing equal opportunities for all.
Governance: The structure supporting our efforts
Sustainability matters are increasingly important to our customers and partners, and they greatly influence the way we run our business. Displaying bold and cohesive governing practices enables us to develop innovative solutions and truly lead the way in securing the future.
Our memberships and ratings
Our sustainability commitments are guided by globally recognised pledges and certifications, reflecting our dedication to achieving Net Zero by 2050. Explore each initiative below to learn more about our efforts.
Our investments
We understand that considering ESG issues are essential to achieving our climate goals.
Allianz Global Investors (AGI), which manages our investment funds, is a signatory to the United Nations Principles for Responsible Investment and therefore incorporates ESG issues into its investment decision-making.
We avoid investing in: tobacco, gambling, oil and gas, arms industry and Russia. And we consider human rights issues.
Our products and services
We maintain solid underwriting practices and ensure that insurance transactions in 13 sensitive business areas are screened and assessed for ESG risks. Every employee must complete annual compliance training and regulatory testing to uphold the ethical standards and behaviours required of all of us in carrying out our day to day business.
