ALLIANZ GROUP

ALLIANZ GROUP's reported carbon emissions

Allianz Group, headquartered in Germany and operating within the insurance and pension funding services sector, reported a total of approximately 144,737,200 kg CO2e in 2024. This figure encompasses Scope 1, 2, and 3 emissions. For the same year, Scope 1 emissions were around 36,160,900 kg CO2e, Scope 2 emissions (market-based) were approximately 5,947,000 kg CO2e, and Scope 3 emissions totalled about 102,629,300 kg CO2e. In 2023, Allianz Group's total emissions were approximately 136,447,900 kg CO2e. This breakdown included Scope 1 emissions of about 31,773,700 kg CO2e and Scope 2 emissions (market-based) of approximately 7,929,200 kg CO2e. Scope 3 emissions data for 2023 was incomplete, with purchased goods and services missing. Allianz Group has established several climate commitments and reduction targets. Notably, for its own operations, the group aims for a 50% reduction in greenhouse gas (GHG) emissions by 2025, compared to a 2019 baseline, with a long-term goal of achieving net-zero emissions by 2030. Furthermore, Allianz aims to reduce GHG emissions from its own sites and activities in over 70 markets to net-zero by 2030. In its investment portfolio, Allianz has set intermediary targets, including a 25% reduction in emissions for listed equities and tradeable corporate bonds by the end of 2024, against a 2019 baseline. The group has also committed to achieving net-zero GHG emissions in its proprietary investment portfolio by 2050. Additional targets include a 45% reduction in the insurance-associated emission intensity for commercial insurance sub-portfolios by 2030 (against a 2022 baseline) and a 50% reduction in absolute gross financed GHG emissions for listed corporates by 2030 (compared to 2019 emissions). For its corporate exposure, both listed and non-listed, Allianz aims to reduce gross emission intensity by 50% by 2030 from a 2019 baseline. Allianz also plans to reduce Scope 2 emissions per employee by 89% by 2030 compared to a 2019 baseline. The company is committed to supporting the economy's transition to Net Zero by 2050.