Less paper consumption. Less business travel. More green energy. To become more sustainable and reduce our environmental footprint we are constantly optimizing many internal processes. At Allianz Group, we continuously work to reduce greenhouse gas emissions (GHG) in our operations aiming to achieve our net-zero global operations target as early as in 2030. We will reduce GHG emissions from travel by 40% by 2025. We are committed to sourcing and using 100% renewable electricity by 2023. We also extend our sustainability commitment to procurement: By 2025 we are requesting a net-zero commitment from our key suppliers.

AGCS has established a dedicated ESG Operations function to ensure we effectively contribute to the sustainability targets set out by Allianz Group, fostering the wellbeing of our workforce and our planet. The ESG Operations team will create impact in key areas such as Mobility, Energy, Offices and IT and a strong connection among all contributing functions and the entire staff of AGCS for unified and industry leading ESG activities. With regular ‘Green Weeks’ across our global company we raise awareness and encourage all our employees to engage and actively support our sustainability agenda.

Inclusion, diversity and belonging is a core element of our corporate culture.  At AGCS, we value the importance of different perspectives and experiences.  We feel that inclusion is the essential ingredient to nurturing a diverse workforce where everyone feels included; where they feel our culture aligns with their values and where they truly feel a sense of belonging. 

We are shifting our focus from awareness to allyship and advocacy and operate a zero tolerance policy towards discrimination and harassment.  We encourage our people to engage in employee resource groups which cover many dimensions of diversity.

Whether it is human rights in the supply chain, data breaches and cyber security, greenwashing allegations, resource depletion or board diversity: Environmental, Social, and Governance (ESG) and sustainability factors increasingly drive the agenda in business and in society. This creates both risk and opportunity for AGCS and the companies we insure, requiring a strategic approach to manage the challenges, while also maximizing the opportunities.

No company can expect to maintain its reputation and attract customers, talent and investment in today’s environment without having a credible ESG strategy. The journey from a voluntary regime for companies around ESG topics to a more regulated and compulsory one involving transparency, disclosure and reporting is well underway. 

We have the expertise, products and market reach needed to take advantage of these opportunities worldwide, with a strong focus on sustainability-driven risks and the transition to renewable energy, while also factoring ESG into our strategy and processes. We have set up a dedicated team to further evolve our underwriting strategy and capabilities in ESG and sustainability.