Allianz establishes partnership with World Wild Fund for Nature

Wednesday 23 January 2008

Allianz establishes partnership with World Wild Fund for Nature

Following the motto of the World Economic Forum, "The power of collaborative innovation", the Allianz Group has formed a unique partnership with the World Wide Fund for Nature (WWF) to complement its comprehensive range of climate change initiatives.

Nicholas Scofield, Allianz Australia’s General Manager Corporate Affairs, said “the Allianz Group continues to take a leadership position on the issue of climate change.”

“Some recent initiatives have included the establishment of a new Allianz Group company, Allianz Climate Solutions, which advises companies on how to adapt to climate risks and about climate-friendly projects like wind farms or biomass plants, covering all aspects of financing, technical risk management and insurance.”

“In Australia, Allianz recently became the main sponsor of the Sydney Royal Botanic Garden’s ‘Seeds for the Future’ project, which will establish a Seed Bank of Australia’s nearly 2000 rainforest species to protect them from the threat of climate change.”

The Allianz Group’s latest climate change initiative is the establishment of a partnership with WWF.

Joachim Faber, member of the board of management of Allianz SE, said “the WWF is one of the largest and most international organisations that has dealt in depth with the issue of climate change for a long time. Allianz has been working with WWF since the summer of 2005, when we released a joint report estimating the risks of climate change for the financial services industry.”

According to Mr Scofield, “while we have collaborated with the WWF on a number of specific projects over the last few years, the relationship was recently formalised through a three-year master agreement.”

Mr Faber added, “one of the main goals of our collaboration is to precisely quantify both the direct and indirect effects of climate change on the Allianz Group – in other words, including the possible repercussions and risks for our very diverse financial investments.”

“It’s WWF’s independence which makes the partnership so valuable. The WWF is one of the institutions with the most extensive knowledge on climate change. And it’s a good thing to have a sort of "sparring partner" so we can develop further – both ourselves and as a company. We don’t have to be of the same opinion on all matters to achieve that result.”
Founded in 1961, the WWF is active in more than 100 countries today, including Australia.
Mr Faber concluded by saying, “Allianz wants the insight gained from the quantification of climate change effects on its business to serve as an innovation driver for our products and services in every segment. The WWF will support us in that as well. We’d like to lower our climate risks as soon as possible and take advantage of the opportunities resulting from climate change.”

Media enquiries:
Nicholas Scofield
Allianz Australia Ltd
Ph. +61 2 9390 6596
0416 088 414

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 more recently, a life insurer.

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.

Insurance AwardAllianz Australia has approximately 3300 staff. In 2006, 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.

*Australian Banking and Finance Insurance Awards