ALLIANZ GROUP

Allianz Group Carbon Emissions and Climate Commitments

Allianz Group, headquartered in Germany and operating within the Insurance and pension funding services industry, is actively engaged in reducing its environmental impact.

Emissions Data:

In 2024, Allianz Group reported total GHG emissions of approximately 144,737,200 kg CO2e. This figure comprises:

• Scope 1 emissions: Approximately 36,160,900 kg CO2e.
• Scope 2 emissions (market-based): Approximately 5,947,000 kg CO2e.
• Scope 3 emissions: Approximately 102,629,300 kg CO2e, with significant contributions from business travel (about 55,873,800 kg CO2e), purchased goods and services (about 8,993,500 kg CO2e), and fuel and energy-related activities (approximately 30,305,100 kg CO2e).

Previous years' emissions data includes:

• 2023: Total emissions of approximately 136,447,900 kg CO2e.
• 2022: Total emissions of approximately 153,910,000 kg CO2e.
• 2021: Total emissions of approximately 138,746,000 kg CO2e.
• 2020: Total emissions of approximately 203,352,000 kg CO2e.
• 2019: Total emissions of approximately 334,000,000 kg CO2e.
• 2018: Total emissions of approximately 373,448,000 kg CO2e.
• 2017: Total emissions of approximately 379,446,000 kg CO2e.
• 2015: Total emissions of approximately 301,339,000 kg CO2e.

Climate Commitments and Reduction Targets:

Allianz Group has established several climate targets aligned with industry best practices:

• Own Operations: Allianz aims to reduce greenhouse gas (GHG) emissions by 50% by 2025 (compared to a 2019 baseline) and achieve net-zero emissions by 2030 for its own operations.
• Investment Portfolio:
  • An intermediary target is set to reduce emissions in listed equities and tradeable corporate bonds by 25% by the end of 2024, compared to a 2019 baseline.
  • Commitment to achieve net-zero GHG emissions in its proprietary investment portfolio by 2050, consistent with a 1.5°C pathway.
  • A target exists to reduce absolute financed emissions in listed corporates (corporate bonds and listed equity) by 50% by 2030, compared to the 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.
  • A plan is in place to reduce Scope 2 emissions per employee by 89% by 2030 compared to a 2019 baseline.
• Motor Retail Portfolio: The target is to reduce absolute carbon emissions within the motor retail portfolio by 30% by 2030, against a 2022 baseline.
• Broader Value Chain: Allianz supports the economy's transition to Net Zero by 2050, with an ambitious interim target of a 65% GHG emission reduction by 2030 from a 2019 baseline.

These commitments demonstrate Allianz Group's strategic approach to mitigating climate change risks and contributing to a sustainable future within the insurance sector.