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Our Sustainability Roadmap

 

At Allianz Trade, we are deeply committed to our role in the Net Zero transition. As an insurer and global trade enabler, we are uniquely positioned to help companies and the overall economy grow in a more sustainable way, in line with the approach of our parent company, Allianz SE.

As such, we have established strategic pillars to advance the concrete and measurable objectives of our Sustainability roadmap. 

We want to lead by example in our operations

We have set concrete objectives and planned greenhouse gas (GHG) emission reduction of -65% as an ambitious interim 2030 target. Our operations include the energy and other resources we use on our sites, waste we produce, water we use, paper we consume and travel we conduct.

We have clear GHG reduction targets for our operations, towards the 2025 goal: 1,4 t CO2 equivalent per employee per year and we are on track to achieve our GHG emissions/employee by 2025. Our progress so far:

  • 100% of electricity from renewables in 2023 versus 47% in 2019
  • 67% reduction in GHG emissions per capita in 2022 vs. 2019
  • 68% reduction in energy consumption per capita in 2022 vs. 2019
  • 64% reduction in water consumption per capita in 2022 vs. 2019
  • 78% reduction of waste per capita in 2022 vs. 2019

The Social element in ESG also plays a significant role, starting with our own workforce. As such, we focus on diversity, equity and inclusion, and human rights. Below are some of our achievements:

  • Gender equity: 53% of our employees and 41% managers are women, and we are globally EDGE certified
  • Diversity and inclusion: 80 nationalities working in more than 50 countries
  • CSR: over 70 charities and NGOs supported globally through donations, volunteering, and insurance support.
piril-ky
“Our Sustainability roadmap is based on objective and measurable criteria, according to which we can track our progress and see where there is room for growth. I am proud to share that as of 2023, we are sourcing 100% of our electricity from renewable sources1, and we are on track to cut 50% of our GHG emissions/employee by 20252 from our own operations. We are EcoVadis platinum certified in the DACH region, hold EDGE certification and Great Place to Work certification in 6 countries, and are continuously working with credible third parties to assess our sustainability performance.” – Piril Kadibesegil Yasar, Head of Sustainability, Allianz Trade

1 - Where in buildings renewable energy resources are not available for direct consumption, offset is done through Energy Attribute Certificates in calculation for 100% reach. 2022 EACs account less than 20% attribution

2 - baseline 2019

Integrate ESG into business decisions and processes, and strengthen sustainability governance

We want to integrate sustainability fully into our core business and decision-making processes, building on the foundations of the Allianz Group’s ESG Integration Framework.

We empower employees around the world to be informed and act with year-round ESG trainings and volunteering opportunities.             

We have integrated ESG criteria in:

  • our country risk analysis
  • our commercial underwriting processes
  • our investment decisions
piril-ky
 “Over the past few years we have built a strong Sustainability governance, including a Group Sustainability Office that defines and applies our Net-Zero roadmap and strategy, a Board Member dedicated to Sustainability matters, and a cross-functional Global Sustainability Committee. With this we have created a network of stakeholders, each bringing their own expertise and enriching our approach.” – Piril Kadibesegil Yasar, Head of Sustainability, Allianz Trade.

We work towards having an active role in decarbonization pathways

We want to steer the decarbonization of our portfolio by integrating sustainability in risk assessment and commercial underwriting processes.

  • Together with our partners we are working to measure the environmental footprint of our clients.
  • We want to build sector pathways and estimate our carbon budgets sector by sector in order to guide our commercial risk appetite.

We are investing in data management and ESG knowledge to reinforce our resilience and better serve our customers in their transition.

We are investigating further channels of support and development businesses involved in the transition, such as in low carbon and renewable energy.

piril-ky
“We are fully aligned with the Allianz Group’s ambitions in tackling climate change with strong commitments. As such, we have integrated the Allianz Group’s ESG Integration Framework in our underwriting processes. For instance, we have stopped providing coverage related to the operation of mines where coal is extracted and to dedicated oil sands projects, among others. Since January 2023, we have also tightened our stance regarding oil & gas projects.”– Piril Kadibesegil Yasar, Head of Sustainability, Allianz Trade.

We are developing sustainable solutions

We are committed to developing a sustainable solutions framework: assess, transform and label our products to enhance our offer.

We support and encourage our clients in their transition to Net Zero through our proper coverage approach for Renewable Energy and Low Carbon projects.

Our sustainability solution in Specialty Credit, with now more than 40 policies, is one such example. This pioneering product contributes to the environmental transition by insuring projects based on predefined ESG KPIs and investing the related premium in bonds or private equity partnerships that meet these same criteria.

We are also partnering with organizations aiming to foster sustainable development in both environmental and social matters (such as the World Bank and Save the Children) by providing them with specialty credit solutions.

piril-ky
“We have already integrated ESG criteria into our country risk analysis, commercial underwriting processes, and investment decisions. We are working to do the same in our credit risk assessment to strengthen risk management and product development.” – Piril Kadibesegil Yasar, Head of Sustainability, Allianz Trade.

Our Sustainability Vision

As an insurer and global trade enabler, Allianz Trade is uniquely positioned to help companies and the overall economy grow in a more sustainable way.
Read our vision