Allianz receives Carbon Disclosure gong for third year running

Sydney, 23 September

The Allianz Group has been commended for its approach to climate change disclosure by the Carbon Disclosure Project (CDP), which represents 385 international institutional investors with 57 trillion US dollars in assets under management.

Nicholas Scofield, General Manager Corporate Affairs, said “Allianz is honoured to be included in the CDP’s Carbon Disclosure Leadership Index for the third consecutive year.
The index is a key component of CDP’s annual Global 500 Report, which highlights those companies within the FTSE Global 500 Index that have displayed the most professional approach to corporate governance in respect of climate change disclosure practices”.

The leadership index is compiled by PricewaterhouseCoopers (PwC) on behalf of CDP and comprises 67 companies in the Global 500 Index. PwC selected companies for inclusion in the index on the basis of analysis of their responses to CDP's 2008 Questionnaire, which focused on greenhouse gas emissions, emissions reduction targets, and risks and opportunities associated with climate change.

Paul Dickinson, Chief Executive of the Carbon Disclosure Project, commented: "Good corporate governance in respect of climate change disclosure will inevitably reap its rewards. As carbon regulation increases, those companies that have implemented climate change related strategies are clearly going to be in a far better position to meet the challenge of higher carbon prices than companies that have procrastinated. Good disclosure practices are synonymous with good management."

Mr Scofield concurred, adding, "as global risk managers and investors, Allianz has been supporting the Carbon Disclosure Project since its commencement. The CDP is crucial for more transparency and understanding of carbon risks and opportunities as we move to a clean-energy and low-carbon economy".

The Carbon Disclosure Leadership Index, which provides an evaluation tool for institutional investors, is made up of the top 34 companies selected from non-carbon intensive sectors and the top 33 companies from carbon intensive sectors.

Mr Scofield added, “inclusion in the Carbon Disclosure Leadership Index recognises Allianz’s superior corporate governance in respect of climate change and our long-term commitment to provide environmentally sustainable products and services to our customers. Some Allianz initiatives include being a leader in the transfer of risks to the capital markets through catastrophe bonds and offering our customers investment opportunities through the Allianz Global Eco Trends Fund, one of the most successful investment fund in the industry. Further, by 2010 Allianz will have invested more than $800 million in renewable energy”.

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Allianz Australia

Best General Insurance Company 2006*
Best General Insurance Company 2007*

The Allianz Australia Group operates in Australia and New Zealand. It is one of Australia’s largest general insurers, a leading private workers’ compensation insurer, and also provides life insurance.

Allianz Australia delivers a wide range of personal, commercial and corporate insurance products and services. AAL is proud to be of service to more than 2 million policy holders and over 50% of Australia’s top 200 BRW listed companies have some form of insurance cover with the group.

Allianz Australia offers a wide range of insurance products and services including car insurance, home insurance and Life insurance.

Allianz Australia has approximately 3300 staff. In 2007, the company achieved a gross written premium exceeding AU$2.4 billion and investment assets of approximately AU$5.5 billion. Allianz Australia Group is a wholly owned subsidiary of the worldwide Allianz Group, one of the world’s largest financial services companies.

Allianz’s commitment to social, environmental and economic sustainability has been acknowledged ‎internationally by the Dow Jones Sustainability Index, which recognised Allianz as the most ‎sustainable general insurer in the world in 2007. In Australia, Allianz is a member of the Greenhouse ‎Challenge Plus program, which is a cooperative partnership between industry and the Australian ‎Government that aims to reduce greenhouse gas emissions.‎

*Australian Banking and Finance Insurance Awards