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Recognizing the urgency to tackle climate change, AllianzGI announces its commitment to support the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5°C, by joining the Net Zero Asset Managers initiative.
29 March 2021. Recognizing the urgency to tackle climate change, AllianzGI announces its commitment to support the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5°C, by joining the Net Zero Asset Managers initiative. As part of the initiative, AllianzGI is committing to:
Work in partnership with asset owner clients on decarbonisation goals, consistent with an ambition to reach net zero emissions by 2050 or sooner across all assets under management;
Set an interim target for the proportion of assets to be managed in line with the attainment of net zero emissions by 2050 or sooner; and
Review their interim target at least every five years, with a view to ratcheting up the proportion of AUM covered until 100% of assets are included.
“Climate change is one of our planet’s most pressing challenges, and AllianzGI believes that asset managers should take a more active role. Following our recent announcement of our new stewardship approach: Climate engagement with outcome, aimed at engaging with companies on the climate transition pathway towards a low carbon economy, we are pleased to be joining the Net Zero Asset Managers initiative. This is another milestone in our sustainability pathway, that complements the commitment made by Allianz Group in 2019” comments Tobias Pross, CEO of Allianz Global Investors.
This new commitment comes as AllianzGI is accelerating its sustainable investment drive. 74 of its equity, fixed income and multi-asset funds recently joined its current sustainable investment offering, and, for a number of funds, AllianzGI set the bar even higher to support its ambitions on addressing climate change by launching a dedicated climate engagement approach.
The Climate Engagement with Outcome approach represents further development in AllianzGI’s proactive stewardship approach and aims to engage with companies on the climate transition pathway towards a low carbon economy. Fund managers will actively engage with the top 10 absolute carbon emitters (scope 1 and 2) within their portfolio as a proxy for climate impact. If the issuer does not respond to requests or does not show an improvement effort in their climate pathway, divestment will be considered in the escalation process.
Allianz Global Investors is a leading active asset manager with over 700 investment professionals in 25 offices worldwide and managing EUR 582 billion in assets for individuals, families and institutions.
Data as at 31 December 2020
Active is: Allianz Global Investors
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This document is being distributed by the following Allianz Global Investors companies: Allianz Global Investors U.S. LLC, an investment adviser registered with the U.S. Securities and Exchange Commission; Allianz Global Investors Distributors LLC, distributor registered with FINRA, is affiliated with Allianz Global Investors U.S. LLC; Allianz Global Investors GmbH, an investment company in Germany, authorized by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin); Allianz Global Investors (Schweiz) AG; Allianz Global Investors Asia Pacific Ltd., licensed by the Hong Kong Securities and Futures Commission; Allianz Global Investors Singapore Ltd., regulated by the Monetary Authority of Singapore [Company Registration No. 199907169Z]; Allianz Global Investors Japan Co., Ltd., registered in Japan as a Financial Instruments Business Operator [Registered No. The Director of Kanto Local Finance Bureau (Financial Instruments Business Operator), No. 424, Member of Japan Investment Advisers Association and Investment Trust Association, Japan];and Allianz Global Investors Taiwan Ltd., licensed by Financial Supervisory Commission in Taiwan. Admaster :
To enhance its commitment to sustainability and accelerate its ambition to be a leader in sustainability, AllianzGI is reshaping the structure of its dedicated team under the leadership of Matt Christensen, Global Head of Sustainable and Impact Investing, as well as enlarging it by two new hires.
New structure unlocks the full potential of AllianzGI’s deep Sustainability expertise
Three pillars established under the leadership of Matt Christensen, Global Head of Sustainable and Impact Investing