Allianz Sets Climate Aim For Investments
Friday, January 15th, 2021 Risk ManagementAllianz has revealed concrete interim targets for reducing greenhouse gas emissions in its investment portfolio of policyholder funds. This is the first time the global insurer has done so, and it is in support of its stated goal of climate neutrality by 2050.
According to a statement by Allianz, it is working towards its 2025 goal to reduce emissions for selected asset classes in the portfolio of customer funds by 25% compared to 2019.
Aside from traditional investment criteria, Allianz will also review all equities, corporate bonds and real estate investments for compliance with the Paris climate agreement.
Over the next five years, Allianz seeks to reduce climate gases from its operations by 30% from 2019 levels.
By 2023, Allianz plans to be completely reliant on green electricity in business operations and will further reduce the use of single-use plastic and paper.
