- IAIS will soon embark on a new strategic direction following approval of its 2020-2024 Strategic Plan and Financial Outlook(SPFO)
- EIOPA publishes 2018 Annual Report
- IPCC circulates Final Draft including the Summary for Policymakers(SPM) of the Special Report on the Ocean and Cryosphere in a Changing Climate(SROCC) to governments
- UK motor insurers had impressive 2018 but prospects could worsen in next two years says EY research
- FCA publishes first annual perimeter report
- Insurer legacy systems holding back single customer view and slowing digital transformation says new MarkLogic global survey
- Econocom research indicates that over a quarter of businesses(26%) have had digital transformation projects fail expired
- Riskbook the winner of the London semi-final round of the ACORD InsurTech Innovation Challenge (AIIC) expired
- Argo deploys AVYST’s bi-directional forms system, eForms Wizard, making it possible for clients and brokers to enter risk details just once, at source expired
- SURA Columbia successfully deploys its integrated claims fraud detection programme for motor personal lines with the FRISS accelerator for Guidewire ClaimCenter. expired
- Brown appointed Non Executive Director at SSP expired
- Randall steps down as Group CEO at R&Q expired
16th September 2018
Allianz Group achieved the top position as sector leader amongst all rated insurance companies in the Dow Jones Sustainability Index(DJSI)
Allianz Group achieved the top position as sector leader amonst all rated insurance companies in the Dow Jones Sustainability Index(DJSI). This is the second time in a row since 2017. In the results of the world’s most relevant sustainability index, published this week, Allianz ranks with 85 points well above the average sector scoring of 47 points. Since 2000, the company has been part of the DJSI which assesses environmental, social and governance(ESG) criteria. Only the most sustainable of the 2,500 companies in the Dow Jones Global Total Stock Market Index (DJGTSM) are listed.
“We are very pleased with this result. It shows that our focus on ecological, social and governance criteria is being acknowledged by external sustainability experts," says Günther Thallinger, member of the Board of Management of Allianz SE and responsible for Investments and ESG. "As a responsible insurer, investor and employer, we contribute to positive social and economic development in all markets in which we are present.” Allianz creates measurable ecological and social added value through, among other things, sustainable products, climate-friendly business operations and social engagement. Important results of the last year include
-165 insurance and financial products with ecological or social benefits
-E5.6bn invested in renewable energies(as of 31st December 2017)
-reduction of the carbon footprint per employee by 17%(compared with 2010)
-social engagement with around 80,000 hours of voluntary work by employees and E20m in donations for a good cause.
By joining the Science Based Target Initiative(SBTi), Allianz has set itself long-term goals for climate protection. In the future, the two-degree target of the Paris Climate Agreement will be integrated into the investment of insurance customers’ premiums. To this end, all tradable investments are to be structured climate-neutrally by 2050. In order to support this long-term transformation towards a low-carbon economy, Allianz is in active dialogue with companies to define and implement their own climate protection targets. The first step is being taken in four particularly energy-intensive sectors, including the transportation sector. In the energy sector of the portfolio, the threshold value for the maximum coal content will be lowered from 30% to 25% by 31st December 2022. The threshold refers to the revenue that mining companies generate by mining coal, or to the percentage of electricity generated from coal by energy companies. The measures continue Allianz's ESG scoring approach, which is currently applied to companies with high ESG risks.
Allianz is currently working with recognized climate experts, non-governmental organisations and committed companies within SBTi to develop marketable analysis tools for investors to integrate the two-degree target. Many companies are still unable to make precise statements about their greenhouse gas emissions or those of their supply chain due to a lack of data and procedures. "There is still a lot of pioneering work to be done. As a long-term investor, we need valid methods as quickly as possible to evaluate the climate strategies of invested companies. The adaptability of business models to the two-degree target will in future be a decisive selection criterion for our portfolio," explains Günther Thallinger. "It is important to limit global warming as quickly as possible–this will only succeed if business and politics pull in the same direction.”
With a view to achieving the two-degree target, Allianz also intends to significantly reduce its own emissions in the long term. One of the next important measures is to purchase all electricity for the Allianz Group's business operations from renewable energy within the next few years.
Allianz Trends(717 articles)