Roderick MacDonald and his team have developed the co-financing strategy
for carbon projects. As Allianz said, Karsten Löffler directs
climate-related strategies. In Kenya, they invested in a company that undertakes forest conservation
in combination with development initiatives for the local population.
The first project will prevent the emission of 36 million metric tons of
CO2 – about 100 times the annual emissions of the entire Allianz Group.
In India, we co-finance a set of energy-efficient lighting projects.
They will help reduce residential energy consumption and avoid the
annual equivalent emissions of 1 million cars in Germany.
What are the critical emission sources within Allianz and what do you do to reduce them in an efficient manner?
Löffler: 98 percent of the Group's emissions come from energy, travel and paper, so the focus of our carbon reduction activities is on these areas. We have developed global policies to manage and reduce consumption, which in turn support the avoidance, reduction and substitution of emissions. For instance, our Green IT Hardware Purchasing Policy ensures that we purchase energy-efficient devices and that “Energy Star” and “EPEAT” are Group-wide standards for all IT purchases. We also have put efforts in raising awareness among our employees through interactive and engaging campaigns.
Does this also bring advantages for Allianz customers?
Löffler: We believe climate change is providing opportunities and threats at the same time. We capitalize on the first, for instance by being one of the largest renewable energy investors and through our carbon projects, and strive to protect our clients against the latter. We offer our customers over 130 green products and services across the entire business spectrum, e.g. green building insurance to cover facilities or offices that have been built or refurbished to be more energy-efficient.
What is going to be the future focus of Allianz’ climate engagement?
Löffler: Despite the lack of progress in international climate change negotiations, we see evidence of increasing regional, national and sub-national efforts towards introducing climate change legislation. This is particularly striking in Europe, but also in countries like China. There is a general sentiment that the economic costs of non- or delayed-action outweigh by far the costs of taking the necessary measures today.
MacDonald: The striking impact of climate change on weather patterns, biodiversity or water supply means that there is a strong economic rationale to be at the forefront of efforts in this area for an insurance and asset management company like Allianz. This is also the reason why we find it worthwhile to pursue direct carbon investments in key areas of climate protection. At Allianz, we seek to meet the rewarding challenges of the future today.http://www.finchannel.com/index.php/editorial-2/item/34590-
What are the critical emission sources within Allianz and what do you do to reduce them in an efficient manner?
Löffler: 98 percent of the Group's emissions come from energy, travel and paper, so the focus of our carbon reduction activities is on these areas. We have developed global policies to manage and reduce consumption, which in turn support the avoidance, reduction and substitution of emissions. For instance, our Green IT Hardware Purchasing Policy ensures that we purchase energy-efficient devices and that “Energy Star” and “EPEAT” are Group-wide standards for all IT purchases. We also have put efforts in raising awareness among our employees through interactive and engaging campaigns.
Does this also bring advantages for Allianz customers?
Löffler: We believe climate change is providing opportunities and threats at the same time. We capitalize on the first, for instance by being one of the largest renewable energy investors and through our carbon projects, and strive to protect our clients against the latter. We offer our customers over 130 green products and services across the entire business spectrum, e.g. green building insurance to cover facilities or offices that have been built or refurbished to be more energy-efficient.
What is going to be the future focus of Allianz’ climate engagement?
Löffler: Despite the lack of progress in international climate change negotiations, we see evidence of increasing regional, national and sub-national efforts towards introducing climate change legislation. This is particularly striking in Europe, but also in countries like China. There is a general sentiment that the economic costs of non- or delayed-action outweigh by far the costs of taking the necessary measures today.
MacDonald: The striking impact of climate change on weather patterns, biodiversity or water supply means that there is a strong economic rationale to be at the forefront of efforts in this area for an insurance and asset management company like Allianz. This is also the reason why we find it worthwhile to pursue direct carbon investments in key areas of climate protection. At Allianz, we seek to meet the rewarding challenges of the future today.http://www.finchannel.com/index.php/editorial-2/item/34590-
