Allianz tops Dow Jones Sustainability Index 2018 as most sustainable insurer

Wednesday, 7 November 2018 00:58 -     - {{hitsCtrl.values.hits}}

The Allianz Group has taken the leading position among all rated insurance companies in the latest Dow Jones Sustainability Index (DJSI). This is the second consecutive time the Group has achieved this feat. In the results of the world’s most relevant sustainability index, published recently, Allianz was ranked with 85 points – well above the average sector scoring of 47 points. Since 2000, the company has been part of the DJSI which assesses environ-mental, 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.

Commenting on the prestigious achievement, Allianz Insurance Lanka Managing Director Surekha Alles said, “As a responsible insurer, investor and employer it is gratifying to have our focus on ecological, social and governance criteria acknowledged by external sustainability experts. It further validates our commitment to sustainability as we continue to set ambitious goals for ourselves and contribute to the achievement of Sustainable Development Goals both here in Sri Lanka and across the globe.”

Allianz creates measurable ecological and social added value through, among other things, sustainable products, climate-friendly business operations and social engagement.

The most notable results of the past year include:

n165 insurance and financial products with ecological or social benefits

n5.6 billion euros invested in renewable energies (as of 31.12.2017)

nreduction of the carbon footprint per employee by 17 percent (compared with 2010)

social engagement with around 80,000 hours of voluntary work by employees and 20 million euros 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 31 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 recognised 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.

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.