Allianz's commitment to climate protection

24 November 2020

The Allianz Group has had a climate strategy in place since 2005 to actively support the global transition to a low-carbon economy. Allianz implements its climate strategy in its insurance, investment and asset management divisions and in its business operations, and was one of the first insurance companies to set itself climate goals, currently in line to the Paris Climate Agreement target to limit warming to well-below 2 degrees.

As part of our long-term commitment, Allianz was a founding member of the UN-convened Net-Zero Asset Owner Alliance, making a commitment to reduce the carbon emissions of our investment portfolios to net-zero by 2050. In 2018, Allianz also joined the Science Based Targets initiative (SBTi) commitment to achieving a carbon-free economy. At this time, Allianz withdrew from providing Property and Casualty insurance for single coal-fired power plants and coal mines (operational or planned) and we are phasing out coal entirely across our business. Allianz has taken these steps because we understand that effective climate change response requires immediate action and ongoing change as the global economy shifts.

Allianz will continue to regularly review our strategies and further integrate sustainability into our core business in the coming years. To this end, we work together with other investors as well as scientists, governments and maintain a regular dialogue with NGOs.

PIMCO is an investment management company owned by Allianz SE, however, we cannot comment on the client mandates of our subsidiaries for reasons of confidentiality.

Further information on Allianz’s global approach to sustainability can be found here: https://www.allianz.com/en/sustainability.html