For property and casualty insurers, climate change may be considered an environmental risk. Allianz has adopted a climate change strategy that addresses how the company is preparing its own operations and developing products and services to help minimize risk while advancing a low-carbon economy. Allianz utilizes a comprehensive risk management framework that considers the physical and financial risks of climate change in four areas: insurance solutions, asset management, direct investments, and internal activities. The company offers more than 80 products and services that help mitigate climate change or take environmental impact into account. In addition, the company offers socially responsible investment options in its asset management business and is a signatory to the United Nations Principles for Responsible Investment. Finally, Allianz has large investments in wind and solar projects in Europe and sees renewable energy as an attractive growth market.
While Allianz demonstrates an understanding of the risks and opportunities that climate change presents, Portfolio 21 has asked the company to incorporate social and environmental assessments broadly across its investment activities.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/13 and may not reflect current opinions or subsequent events.