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COP26 

Allianz and the UN Climate Change Conference UK 2021

 
As a founding member of the Net Zero Asset Owner Alliance at COP25, the Allianz Group Climate Change Strategy is committed to tackling global warming and reducing carbon emissions by 2050. We're excited to be a part of COP26, amongst leaders and pioneers within greener solutions.

The United Nations hosts an annual global climate change conference known as COP which stands for Conference of the Parties. The Parties refer to the 193 countries making up the United Nations.

This year marks the 26th anniversary of COP, hence the name COP26. The first COP took place in Berlin in 1995 against the backdrop of increased climate change research. The central idea behind COP is to unite the UN countries in actions to prevent climate change. A key task of the COP is to review the emission inventories submitted by the Parties and, based on this, assess the effects of the measures taken.

  • Step up mitigation efforts - further reduce greenhouse gas emissions in order to keep the 1.5 degree goal within reach.
  • Strengthen adaptation and resilience - protect the global population, and particularly the most vulnerable regions of the world, from already unavoidable impacts of climate change.
  • Mobilise $100 billion in climate finance.
  • Enhance international collaboration - finalising the Paris rulebook. 

 

What is COP26?

UN Climate Change Conference UK 2021 logo

Why is COP26 relevant for Allianz?

As a global investor with global reach and economic power rivalling that of many nation states, financial institutions like Allianz occupy an important part in the climate equation of the future.

Without investments in green energy and swift phasing-out of fossil fuels, the world will not be able to meet the 1.5 degree target. That’s why it’s so important that financial institutions like Allianz commit to ambitious decarbonization targets, alongside those set by the countries participating in COP.

At the COP26, representatives from Allianz will focus on getting further members into the decarbonization alliances to which we take part, including the Net Zero Asset Owner Alliance (AOA) and the Net Zero Insurance Alliance (IUA).

In the UK, in 2020, Allianz Insurance achieved:
65% reduction
Our target was to reduce our energy consumption by 2020. By 2021, we achieved a 65% reduction, and have plans to reduce it further.
79% reduction
In 2020, our carbon footprint in Allianz UK was 540 kg per employee. This represents a 79% reduction against the 2010 baseline and was above the target of 33%. 
73% reduction
We saw a 67% decrease in distance travelled per employee since 2010 which has resulted in a 73% reduction in travel related CO2 emissions per employee.

Allianz initiatives

Allianz launches sustainable procurement charter

Allianz Holdings has launched a sustainable procurement charter to encourage its suppliers to adopt and develop sound Environmental, Social and Governance (ESG) practices.

Allianz and SYNETIQ automate green parts sourcing

Allianz Insurance and salvage and recycling company SYNETIQ have launched a digital platform that helps vehicle repairers source green parts.
allianz and toyota

Allianz switches to hybrid power with new Toyota and Lexus vehicle fleet deal

As part of its commitment to create a sustainable future, Allianz Insurance has announced a new vehicle fleet deal with Toyota and Lexus.

Who is going to COP26?

wind tubines

Representatives from all UN countries are invited to attend the summit, alongside thousands of negotiators, citizens, and businesses. The talks and negotiations will run from 31 October to 12 November. While negotiations primarily involve government officials representing their countries, a large number of celebrities are expected to come to Glasgow to show their commitment to the climate cause – including Pope Francis, Greta Thunberg, and Queen Elizabeth.

In addition to the official events organized by the UN, Glasgow is therefore expected to buzz with life as numerous side-events organized by citizens, business networks, and NGOs are set to take place.

From Allianz, SE Board Member Günther Thallinger will attend selected events.

Further industry insight on sustainability

Graham Gibson on Sustainable insurance solutions

In a feature for Modern Insurance Magazine, Graham Gibson, Chief Claims Officer, Allianz explains sustainable insurance solutions.

Expert views on sustainability

Our Allianz expert Carolyn Rich, Head of Brand Marketing and Social Responsibility discusses why sustainability has become a key focus over the last few years and why businesses need to adapt to remain competitive in a changing world.
Allianz branded golf ball

Graham Stait discusses sustainable claims

Graham Stait, Head of Claims Suppliers & Experts at Allianz Insurance, talks about sustainable claims and why it's important for customers and the insurance industry to make claims sustainable. 
"Mitigating climate change is the challenge of our lifetime. Politics, business and societies across the globe need to act as one to rapidly reduce climate emissions. We, as asset owners, will live up to our responsibility and, in dialogue with the companies in which we invest, steer towards low-carbon business practices. We've already atarted and, by 2050, our portfolios will be climate neutral"
                - Oliver Bäte, Allianz’s CEO
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In the 2020 report, we are focusing on Allianz’s commitment to long-term climate protection – both through our business activities as an insurer and investor and our corporate operations. The report gives you an overview of a wide array of topics from how we manage ESG risks and opportunities in our business, offer sustainable solutions, protect our customers, develop our people and engage in the community.
Download our 2020 sustainability report

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