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Welcome to the Allianz Global Investors Sustainability and Stewardship Report 2021.
Our ambition is to help our clients be informed and position themselves for the opportunities of sustainable investing and the outcomes they seek. Reflecting on our progress in 2021, this report explores Allianz Global Investors' approach to sustainability and our evolving offering. It shows how we are shaping sustainable pathways with our clients through a focus on research capabilities, active stewardship and industry engagement. The report also explores our own journey as a sustainable business.
Matt Christensen, Global Head of Sustainable and Impact Investing, Allianz Global Investors
Highlights of our year
Sustainable investing at Allianz Global Investors
EUR 673 billion
Total AllianzGI assets under
EUR 303 billion1
Total value of ESG and sustainable investment offering
increase in AuM in ESG and sustainable investments compared to 2020
5 A+ and 3 A ratings
within the UN Principles for
Responsible Investment (PRI) assessment2
Net Zero Asset Managers initiative and One Planet Asset Managers initiative
for controversial weapons and thermal coal adopted firm-wide for all mutual funds that we manage
299 engagement occasions
covering 482 topics
1 This figure includes EUR 156 billion of integrated ESG assets that are not considered sustainable according to EU Sustainable Finance Disclosure Regulation.
2 Reporting period January 2019 – December 2019. PRI reporting has been delayed by the PRI Association by one year. Ratings for the reporting period January 2020 – December 2020 are expected to be available by June 2022, while ratings for the reporting period January 2021 – December 2021 will not be available at all.
“Sustainability is a fast-evolving space and it is vital we keep pace with our clients’ thinking and major advances in understanding around both the challenges and opportunities.”
Tobias Pross, Chief Executive Officer, Allianz Global Investors
Insights from our Sustainability and Stewardship Report 2021
As an active manager asset manager, we aim to give investors access to a broad range of sustainable investment strategies. In 2021 we reviewed our definition of sustainable investments to align with the EU Sustainable Finance Disclosure rules.
We categorise our strategies globally into three different types, depending on clients’ sustainability objectives.
See our categorisation below.
*ESG risk-focused category (our ESG investment approach) is not considered as sustainable according to EU SFDR.
Sustainable investing requires a lateral approach, interconnecting focus areas to achieve the highest impact. We have identified three strategic sustainability themes: climate change, planetary boundaries and inclusive capitalism. We believe these are critical to society, our investors and AllianzGI.
These themes guide our targeted, themed engagement and research designed to ensure the most material risks and opportunities for our business and clients, and to make a positive impact.
Learn more about these themes.
Key ESG issues
Circular economy, resilience
Resource use (eg, water use, land management)
Ways of work, retirement
Access to health, finance and education
Human capital, livelihoods
Climate change is one of our planet's most pressing challenges, AllianzGI takes an active role in shaping our future
There is a risk of irreversible and abrupt environmental and social changes
"Inclusion" will become the next big wave after climate change and requires innovative thinking and solutions that meet the demands of younger generations
Over 40 mutual funds help implement our Climate Engagement with Outcome approach and engage top carbon emitters to set ambitious pathways
SDG-aligned capabilities: global water, clean planet, food security,
Collaboration with initiatives to develop standardised indicators
We believe that constructive engagement dialogue is essential. During 2021 we transitioned our engagement strategy towards a greater emphasis on thematic analysis aligned with our three themes of climate change, planetary boundaries and inclusive capitalism. Our Sustainability and Stewardship Report 2021 details a number of the engagement topics that were in focus throughout 2021.
Influencing companies through proxy voting at shareholder meetings is our fiduciary responsibility to our clients. It is a core part of our role as an active investor and allows us to have a say on some of the most important issues affecting the long term-term development of investee companies. Consequently we have a robust voting process reviewed at least once a year.
View a snapshot of our engagement activity in 2021
Selected voting data in key markets 2021
Total votes against all management proposals by location in 2021
Trust in our company is based on the integrity, resilience and competency of how we do business, as well as our culture and our people.
We are shaping pathways to a more sustainable future through our workplace culture, inclusion and diversity, our flexible working as well as a focus on our business conduct. Our efforts range from reducing our environmental impacts, securing our systems and data, to creating an inclusive workplace and supporting our colleagues’ health and wellbeing.
Take a look at our progress on reducing negative environmental impacts.
1GHG emissions data (old absolute 3.5 tonnes) has been restated for 2019.
Our TCFD Report 2021
In recent years, AllianzGI has laid strong foundations for its climate change strategy by becoming an official supporter of the Task Force for Climate-related Financial Disclosures (TCFD) recommendations in 2019 and started implementing them.
AllianzGI published its second standalone TCFD report, which highlights our progress in implementing the TCFD recommendations and demonstrates our commitment to providing clients with transparency around our climate change considerations.