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Our environmental performance

 

For us securing your future also means being committed to improving our environmental performance. Our strategy, actions and results show how much we care. We work hard to minimise the environmental impact of our business.

 

Our climate strategy

Learn more about our climate strategy and three pillars we use to deliver environmental impact: Anticipate, Care and Enable.
Learn more

Our environmental results

Learn more about how our words reflect our actions, and see the numbers in the UK for 2022.
Learn more

Working together for a sustainable future

Our business impacts and is impacted by a wide range of issues that are important to society and our planet. We know we must
address them to create confidence in tomorrow. As a founding member of the UN-convened Net-Zero Asset Owner Alliance, we’ve
committed to reduce the carbon emissions of our investment portfolios to net-zero, meaning they will be carbon neutral by 2050.

We are working with others to tackle climate change to three key ways:

01

We anticipate the risks of a changing climate – looking to the future to protect people from climate change.

We identify and manage climate-related risks and opportunities as part of our business strategy and through our financial products and services.

We screen investments for climate-related risks and exclude certain sectors, such as coal-based business models which won’t feature at all in our investments and insurance activities by 2040 or sooner.

We are improving transparency around climate-related disclosures and are working to further align our strategy and reporting with the recommendations developed by the G20 Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD)

 

02

We care for the climate vulnerable and aim to ‘close the protection gap’ in emerging countries.

We support our customers to reduce risks and minimise damage, compensate those who have suffered losses, and insure low-carbon developments.

We work with peers, governments and the civil society to manage climate risks and ‘close the protection gap’, specifically in most vulnerable developing countries.

We’re collaborating to provide access to climate risk insurance for up to 500 million people in the most vulnerable developing countries by 2025. We also support scientific research and innovation that improves society’s understanding of climate-related risks.

 

03

We enable a low carbon future by targeting sustainable investments and influencing the companies we invest in.

As well as reducing our own emissions and using renewable energy, we develop sustainable products and services and lead the industry in insuring renewables and energy efficiency.

We target investment towards renewable energy schemes, green buildings and bonds that support environmental projects.

Want to see how we reflect this in our actions? Here's what we achieved in 2022 in the UK:

CO₂ emissions

53% 

reduction against
2019 baseline
In 2022, our carbon footprint at Allianz UK was 600 kg per employee. This represents a significant reduction from the 2019 baseline, although there was a slight increase on 2021 energy per employee usage as we included homeworking and our cloud emissions. Also in 2022 more of our team were back to working in offices. 

Next step will be:

  • To roll out mandatory sustainability training to all staff to explain the behaviours they can adopt to reduce their emissions. 

Reducing energy consumption per employee

100% 

of our electricity comes from
renewable sources
Our energy consumption per employee saw a slight rise on 2021 figures reflecting some increased occupancy in our buildings. We source almost 100% of our electricity from renewable sources.

Next steps will be:

  • To continue to invest in high quality, low carbon electricity. 
  • To maintain current efforts to realise energy efficiency gains in our buildings and IT.

Paper reduction per policy

49% 

reduction from 2021 paper consumption
We have seen a significant decrease in paper consumption compared with our 2019 baseline. We continue to invest in programmes of digitalisation which will reduce the paper used when communicating with our customers. We also reduced the number of printers in our offices by 75%.

Next steps will be:

  • To seek further opportunities to digitalise.  
  • To expand the use of sustainable paper.

Cutting CO₂ emissions from business travel

62% 

reduction in travel related CO₂
emissions per employee since 2019
In 2022,  there was a rise in emissions as we saw a return to business travel post Covid 19. However it is still a reduction from our baseline in 2019.

Next steps will be:

  • To maintain the current efforts of travel reduction. 
  • To continue the roll-out of our hybrid car fleet and switch to the fully electric corporate car fleet by 2030. 

Water reduction

59% 

decrease in water consumption
since 2019
Water consumption saw an increase as our employees continued to return to offices to work. However there was a still a significant decrease from our 2019 baseline reflecting the impact of our water saving initiatives.

Next steps will be:

  • To promote and encourage us to use less water.
  • To install water saving mechanisms in our buildings where possible. 

Waste

27% 

reduction in waste from 2021
The amount of waste produced in our offices continues to decrease and more than 90% of our waste is recycled.

Next step will be:

  • To ensure recycling is optimised at all sites and employees are engaged through communication campaigns. 
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Sustainability

E

Environmental interaction with the physical environment
Climate change
Biodiversity
Natural resources
Carbon emission
Air & water pollution

S

Social
impact on society, communities
Health and safety
Human rights
Employment rights
Product liability
Privacy and data security

G

Governance
how the company is governed
Diversity and inclusion
Transparency
Board independence
Ownership
Ethics
Executive compensation