The response from Allianz

Allianz did not directly respond to all of our questions but sent us a summary addressing questions 1,4,5, and 7.

We are answering the questions 1,4,5, and 7 summarised as follows:

The Allianz Group embeds sustainability in its core business, insurance, investment and asset management. Over the last years, Allianz has made major commitments to support the transformation to a low carbon economy. Clear goals are to steer the portfolio of the insurance clients’ money to be net-zero [at the] latest [by] 2050. Allianz has been a carbon-neutral company since 2012 by investing in projects that offset our operational emissions. We are reducing the carbon footprint in operations with several measures, amongst them the commitment to purchase 100% renewable electricity by 2023 as part of joining the RE100 initiative.

As entity of the Group, Allianz Capital Partners (“ACP”) implements an ESG due diligence process. ACP is working closely with its portfolio companies to learn about their carbon footprint and to identify decarbonizing initiatives. ACP also evaluates new investment opportunities that take into account a company’s CO2 emission status and its pathway to decarbonisation. The importance of energy transition assets in the role they play on the road to decarbonisation [means] we do not shy away from investing in this area. However, any investment needs to have a clear and time-lined strategy on how it will adapt and contribute to a decarbonized world.

ACP invests in wind and solar plants. Talking about infrastructure, we have investments in gas networks, including such with a potential to switch to green gas or hydrogen in the future, water, electricity and fibre networks. Many of these can contribute to a more sustainable future over the long-term.

Currently, we are working [at the] Group Level with partners to develop methodologies and measurable targets to implement our climate targets – this is a journey.