Allianz

InfluenceMap Score
C
Performance Band
72%
Organisation Score
48%
Relationship Score
Sector:
Financials
Head​quarters:
Munich, Germany
Brands and Associated Companies:
Allianz Global Investors, Allianz Re, PIMCO
Official Web Site:
Wikipedia:

Allianz appears to be fairly engaged on sustainable finance policy, with mostly positive positions. Both Allianz and subsidiary Allianz Global Investors have stated support for the Paris Agreement and the net-zero by 2050 goal. Allianz is a founding member of the Net-Zero Asset Owner Alliance and has also been part of a number of investor initiatives throughout 2020-21 advocating for net-zero by 2050 directed to, for instance, the German Federal Government, world leaders and governments. However, in December 2021, Allianz’s subsidiary PIMCO stated that it had not joined any net-zero initiative, as it believed it was not appropriate as a fiduciary to make commitments on its clients’ behalf “given the complexity of the long-term challenges ahead”. In a 2020 op-ed, Allianz stated support for fundamental reform to the financial sector to achieve climate goals. In 2020, Allianz stated broad support for many policies in the EU's Sustainable Finance Action Plan, including the taxonomy, green bond standards, ESG benchmarks and corporate ESG disclosure, in its 2020 group sustainability report. However, there are examples of Allianz and its subsidiaries taking more skeptical positions on certain sustainable finance policies in regulatory consultations, particularly those that would mainstream ESG risk into investor duties.

In response to the European Commission Technical Expert Group's consultation on the taxonomy in February 2019, Allianz supported the taxonomy with minor exceptions, whilst Allianz Global Investors appeared to propose a less rigorous approach to classifying sustainable investments. In feedback to the European Commission on the Renewed Sustainable Finance Strategy in 2020, Allianz stated support for a full taxonomy that would cover both green and environmentally harmful activities, as well as in-between transition activities. Also in 2020, Allianz strongly supported a taxonomy with rigorous, science-based criteria in response to the Commission’s consultation on the taxonomy’s delegated acts.

In feedback to the TEG on the EU Green Bond Standard in 2019, Allianz appeared to favor a stringent approach to classification and reporting. In response to the Commission in 2020, Allianz supported verification regulation of EU Green Bonds at the European level, however, it did oppose the need for minimum standard or labels for sustainably-denominated investment funds. It has also opposed the need for the EU to take action in creating an ESG benchmark.

In feedback to the TEG on climate-related disclosures in 2019, Allianz supported making reporting on ESG risks mandatory and supported reporting on ESG impacts, but suggested the latter should remain voluntary in the short term. In 2020, Allianz supported an ambitious update to the Non-Financial Reporting Directive to include mandatory climate-related disclosure, including transition targets. In a 2021 letter to the SEC, Allianz strongly advocated for regulated corporate ESG disclosure, calling for the development of a mandatory, globally harmonized standard with a double materiality perspective. Also in response to the SEC, subsidiary PIMCO supported policy to implement regulated corporate ESG disclosures for both public and private issuers. However, in response to the UK’s FCA consultation on climate-related disclosures for asset manager and insurers in September 2021, Allianz Global Investors suggested a delayed timeline of implementation and argued that available data poses an issue for product and portfolio-level disclosures.

In 2019, Allianz argued in a consultation on Solvency II that sustainability risks should not be explicitly singled out for consideration in the prudent person principle. In response to the Commission in 2020, Allianz was not supportive of further regulation to integrate adverse ESG impacts into fiduciary duties and advocated for a slow implementation of regulation around sustainability preferences of retail investors. In their 2020 sustainability reports, both Allianz and Allianz Global Investors also appeared to support the EU’s efforts on the Sustainable Finance Disclosure Regulation (SFDR).

Allianz has some information on its engagement on public policy in its group sustainability report and on its website, as well as some information on sustainability-related industry associations memberships. Subsidiary Allianz Global Investors has stated that it engages with policymakers in line with the net-zero by 2050 goal, and has disclosed memberships to industry associations and activities and working groups it is part of, as well as board memberships.

QUERIES
DATA SOURCES
NSNSNSNS2NSNS
221NS21NS
102NS01NS
12212NSNS
111101NS
1NSNS011NS
1110NSNSNS
NSNS1NSNSNSNS
0NANANANANANA
-1NANANANANANA
Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
41%
 
41%
 
42%
 
42%
 
30%
 
30%
 
47%
 
47%
 
81%
 
81%
 
49%
 
49%
 
42%
 
42%
 
55%
 
55%
 
56%
 
56%
 
48%
 
48%
 
48%
 
48%
 
49%
 
49%
 
71%
 
71%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.