ALLIANZ GROUP

ALLIANZ GROUP, a German company in the insurance and pension funding services industry, reported total emissions of approximately 144.7 million kg CO2e in 2024. This figure includes about 36.16 million kg CO2e from Scope 1 emissions, 5.95 million kg CO2e (market-based) from Scope 2 emissions, and approximately 102.63 million kg CO2e from Scope 3 emissions. Key contributors to Scope 3 emissions in 2024 were business travel (about 55.87 million kg CO2e), employee commute (around 7.46 million kg CO2e), purchased goods and services (approximately 8.99 million kg CO2e), and fuel and energy-related activities (about 30.31 million kg CO2e).

Looking back, their total emissions were approximately 136.45 million kg CO2e in 2023, and about 153.91 million kg CO2e in 2022. For 2021, total emissions were around 138.75 million kg CO2e. In 2020, total emissions were approximately 203.35 million kg CO2e. A higher figure of about 334 million kg CO2e was reported in 2019, while 2018 saw emissions of approximately 373.45 million kg CO2e, and 2017 emissions were around 379.45 million kg CO2e. In 2015, total emissions stood at approximately 301.34 million kg CO2e. The earliest data available shows total reported emissions of about 53.21 million kg CO2e for Scope 1, approximately 256.35 million kg CO2e for Scope 2, and around 192.91 million kg CO2e for business travel and 24.75 million kg CO2e for purchased goods and services in Scope 3 in 2009.

ALLIANZ GROUP has established several climate commitments. For its own operations, the company aims to achieve a 50% reduction in GHG emissions by 2025 against a 2019 baseline, with a target of net-zero emissions by 2030 for Scope 1 and Scope 2. Additionally, they aim to reduce GHG emissions per employee by 30% by 2025, also against a 2019 baseline.

In their investment portfolios, ALLIANZ GROUP has set an intermediary target to reduce emissions in listed equities and tradeable corporate bonds by 25% by the end of 2024, compared to a 2019 baseline (covering Scope 1 and Scope 2 emissions of investee companies). For direct equity investments, a 28% absolute carbon reduction is targeted by the end of 2025 against a 2020 baseline. Furthermore, ALLIANZ GROUP aims for a 50% reduction in absolute financed GHG emissions for listed corporates (corporate bonds and listed equity) by 2030, compared to a 2019 baseline. They also plan to reduce their gross emission intensity for both listed and non-listed corporate exposure by 50% by 2030, using a 2019 baseline. For commercial insurance, the target is to reduce the insurance-associated emission intensity of the in-scope sub-portfolio by 45% by 2030 against a 2022 baseline. The company is committed to achieving net-zero GHG emissions in its proprietary investment portfolio by 2050.