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-