Allianz has published the results of its sustainability report into its business practices, covering 1 January 2020 to 31 December.
As part of their efforts, Allianz established a central Global Sustainability team, which is now responsible for integrating sustainability practices and aligning the sustainability activities of our Allianz companies.
Over the past five years, the firm reportedly divested, or is preparing to divest, €6.33bn (£5.49bn) from coal-based business models.
However last year, the firm saw 430 insurance transactions assessed for ESG risks, which is a slight drop from 2019’s 474 transactions.
The group explained the decline was “in line with our public commitments on coal-based business models”, which has resulted in a lower number of transactions in these business areas.
Oliver Bäte, Allianz’s CEO, said: “After 131 years in business, we never tire of working with others to find solutions to complex sustainability problems – and we will remain unsatisfied until we have found effective, institutionalised long-term solutions that make the world a better place.”