Allianz Further Integrates Ecological And Social Responsibility Into Its Core Business
- 2017 Sustainability Report documents Allianz Group’s achievements in Corporate Responsibility
- Focus on climate protection and social inclusion
The Allianz Group presented the most significant results and key figures for its environmental, social and governance performance in fiscal year 2017 in its 17th Sustainability Report. The company leads the prestigious Dow Jones Sustainability Index (DJSI) as best in its sector, and is considered one of the world’s most sustainable insurance companies. A strong record in sustainability counts as a sign of strength for investors, attracts employees who want a socially engaged employer, and serves a growing market in sustainable financial products.
With investments of more than 5.6 billion Euro in renewable energy, Allianz remains one of the most important investors in this field. Its portfolio includes 81 wind farms and 7 solar farms in Europe and the USA. Its investments in certified green buildings have risen to more than 11 billion Euro. In 2017, Allianz’s investment business achieved a milestone: They made it standard practice to include ecological, social and governance criteria, on top of financial considerations, in all insurance premium investment decisions. This so-called ESG Scoring is applied to all tradable assets. Allianz asset managers Allianz Global Investors and PIMCO also considerably expanded their related ESG approaches.
There was also progress within the insurance business. By investing 96.6 million Dollars in the microinsurance provider BIMA, Allianz is furthering its strategy of providing emerging consumers with affordable insurance services. Additionally, in 2017 Allianz offered more than 165 products with significant ecological or social value added, while generating some 1.2 billion Euro in revenues.
Allianz’s sustainability activities aim to help build a low-carbon, socially stable society. This contributes to the Sustainable Development Goals (SDGs) of the United Nations, which are widely accepted by international governments and civil society. “Climate change and economic instability are the biggest challenges of the coming decades,” said Oliver Bäte, CEO of Allianz SE. “We have clearly defined our ambition: as a risk expert and an investor with a long-term orientation, we support the transition to a low-carbon economy, and our social projects strengthen disadvantaged young people all over the world.”
The Group invested over 150 million Euro for training and development for its employees in 2017. Supporting talented women in leadership positions is reflected in a ratio of more than 37 percent female managers. Employee satisfaction with corporate culture has risen to 72 out of a possible 100 points (Inclusive Meritocracy Index). Employees also rated their immediate work environment well: health-supporting factors, had improved from the prior year to 66 points (Work Well Index).
Within its citizenship activities, Allianz spent a total of some 20 million Euro to assist numerous projects. For example, the second Allianz World Run raised 500,000 Euro for the SOS Children’s Villages. And Allianz expanded its Encouraging Future Generations program, which includes supports startups that help disadvantaged children with innovative business ideas. In total, Allianz employees worldwide contributed 80,000 hours of voluntary work for good causes.
Environmental protection also increased within Allianz business operations. CO2 emissions per employee were down 17 percent from 2010, and building energy consumption decreased 29 percent. The company already derives 40 percent of its worldwide power consumed from renewable energy. Allianz’s sustainability activities also convinced its employees: 78 percent acknowledged, that their employer is active in environmental protection and social engagement.
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About Allianz
The Allianz Group is one of the world’s leading insurers and asset managers with more than 88 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing over 650 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2017, over 140,000 employees in more than 70 countries achieved total revenue of 126 billion euros and an operating profit of 11 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
Cautionary note regarding forward-looking statements
The statements contained herein may include prospects, statements of future expectations and other forward- looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.
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Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group’s core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.
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