Allianz strengthens ecological and social focus

by Gill Montia

Story link: Allianz strengthens ecological and social focus

Allianz is planning to become the first major company in the world to establish a committee at board level tasked with ensuring that ecological and social issues are taken into account in decisions made throughout the organisation.

The committee’s members will be Allianz SE board members Clement Booth, Maximilian Zimmerer and Jay Ralph, who will act as chairman.

Allianz has been a “Gold Class” member” of the Dow Jones Sustainability Index for nine years and says it is receiving more inquiries from customers, politicians and non-governmental organisations on topics including climate change, demographics, the use of micro-insurance to fight poverty and the impact of commodity investments on food prices.

According to Mr Ralph, promoting sustainable business by incorporating environmental, social and governance principles in insurance and investing activities is “not just the right thing to do; it gives Allianz a competitive advantage in the market”.