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TMCNet:  Allianz Tops Dow Jones Sustainability Index 2018 as Most Sustainable Insurer

[September 13, 2018]

Allianz Tops Dow Jones Sustainability Index 2018 as Most Sustainable Insurer

Allianz Group achieved the top position as sector leader among 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 today, 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 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.

"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 Invest-ments 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
  • 5.6 billion euros invested in renewable energies (as of 31.12.2017)
  • reduction 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 (News - Alert) 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 percent to 25 percent 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 recognized climate experts, non-governmental organizations and committed companies within SBTi to develop marktable 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.

About the DJSI

The DJSI is one of the world's most recognized sustainability ratings. The DJSI is prepared based on the RobecoSAM Corporate Sustainability Assessment (CSA). The CSA assesses a company based on its public disclosures and transparency of its sustainability approach, as well as internal and confidential data provided directly by the company. It considers a wide range of economic, environmental and social topics, such as human resources programs, executive compensation, tax policies, shareholder rights, compliance and anti-corruption programs, environmental management and performance, corporate social engagement, customer satisfaction, and many other dimensions.

Additional information:

allianz.com/sustainability

About Allianz

The Allianz Group is one of the world's leading insurers and asset managers with more than 88 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world's largest investors, managing over 660 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2017, over 140,000 employees in more than 70 countries achieved total revenue of 126 billion euros and an operating profit of 11 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

Cautionary note regarding forward-looking statements

The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.

Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group's core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

No duty to update

The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.

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