FTSE4Good recognises Allianz for responsible business practices

FTSE4Good recognises Allianz for responsible business practices

Sydney, 3 May 2010

For the tenth time in a row, the global Allianz Group has satisfied the requirements as a constituent of FTSE4Good. Allianz stock has been included in both the European 50 and Global 100 indices since 2001. This places Allianz among the longest-standing FTSE4Good companies.

The FTSE Group launched the FTSE4Good index series in 2001 to measure the performance of companies that meet globally-recognised corporate responsibility standards. The aim of its co-founders, the "Financial Times" and the London Stock Exchange, is to facilitate investment in companies with responsible business practices.

"In answering questions for the Index, Allianz is providing transparency on environmental, social and governance performance factors which many investors and customers are looking for," explains Terry Towell, Managing Director of Allianz Australia.

Companies included the FTSE4Good Index must meet stringent social and environmental criteria. These are based on five areas: working towards environmental sustainability, developing positive relationships with stakeholders, upholding and supporting universal human rights, ensuring good supply chain labour standards, and countering bribery. Each year, companies are asked to answer detailed questions about their performance in these areas.

However inclusion in the Index is never a given, Mr Towell warns. "Losing FTSE4Good endorsement is quite possible and has happened to some companies," he says.

In addition, Mr Towell observes, both corporate responsibility (CR) standards and the quality of disclosure required by companies have become more sophisticated over the years. "This is why our efforts at Allianz are focussed not only on ensuring compliance with high standards, but also on improving our sustainability performance wherever we can."

A part of this effort, according to Mr Towell, also includes Allianz's dialogue with FTSE and other rating agencies during the last few years to devise or redefine CR standards for the financial services industry as a whole.

Allianz Australia - General Insurance Company of the Year 2009*

The Allianz Australia Group operates in Australia and New Zealand. It includes one of Australia’s largest general insurers, a leading private workers’ compensation insurer, and a life insurer.
Greenhouse Challenge Plus
Allianz Australia delivers a wide range of personal, commercial and corporate insurance products and services. It 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 has approximately 3300 staff and is a wholly-owned subsidiary of the worldwide Allianz Group, one of the world’s largest financial services companies.

The Allianz Group’s commitment to social, environmental and economic sustainability has been acknowledged internationally by the Dow Jones Sustainability Index, which recognised the Allianz Group as the most sustainable primary insurance company in the world since 2006. In Australia, Allianz Australia participated in the Greenhouse Challenge Plus (GHC+) program - a cooperative partnership between industry and the Australian Government that aimed to reduce greenhouse gas emissions - and continues to adopt the GHC+ principles.

*Australian and New Zealand Insurance Industry Awards