Allianz Global Investors (AGI), which manages our investment funds, is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and therefore incorporates ESG issues into its investment decision-making.
We are supporting the global transition to clean energy by financing energy efficiency measures and innovation as well as renewable energy projects through fund and direct investments.
Allianz hasn’t financed coal-based business models since 2015; no new investments have been allowed, equity stakes have been divested and fixed income investments made before 2015 are in run-off.
The exclusion thresholds for the energy generation share from coal power plants and the revenue share from coal mining will be tightened over time. We will strengthen the thresholds from the 30% in place since 2015 to 0% by 2040 the latest. As of December 31, 2022, we will reduce our thresholds to 25%.1
In May 2018, we announced a further commitment to expand the scope of coal exclusions. We currently exclude companies involved, either directly or through entities they control (indirectly, minimum of 20% stake), in coal based business models, which are defined as follows:
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