AllianzGI taking a more activist approach to engagement in 2022
Allianz Global Investors, one of the world’s leading active investment managers, has today published its Sustainability and Stewardship Report 2021, which showcases its sustainability journey and offering, outlines its stewardship activities in 2021 and highlights priorities for the current year.
AllianzGI intends to be more vocal when it comes to its stewardship activities in 2022.
This will include engaging collaboratively, working with industry associations, and linking sustainability convictions with engagement and voting.
Climate change, planetary boundaries and inclusive capitalism as driving themes for the engagement activities.
AllianzGI showcases its commitment to sustainable investment with the publication of its Sustainability and Stewardship Report 2021.
05 May 2022 Allianz Global Investors, one of the world’s leading active investment managers, has today published its Sustainability and Stewardship Report 2021, which showcases its sustainability journey and offering, outlines its stewardship activities in 2021 and highlights priorities for the current year.
As an active asset manager with EUR 147bn total AuM value of our sustainable offering according to SFDR 1 and EUR 156bn in ESG risk-focused AuM,
AllianzGI takes its responsibility as a steward of its clients’ assets seriously.
Matt Christensen, Global Head of Sustainable and Impact Investing at AllianzGI said: “As an active investment manager, we are committed to driving positive change, and our lever to achieve this is our demanding and constructive engagement dialogue with investee companies.
Our stewardship activities provide us with opportunities to help our investee companies transition towards a sustainable pathway.
Working with investee companies to identify ambitious but achievable climate goals and ensure their commitment to a roadmap is a key part of our comprehensive approach to active engagement and proxy voting across our portfolios”.
“In 2022, we intend to be more vocal when it comes to our stewardship activities. This will include greater emphasis on engaging collaboratively,
working with industry associations and linking sustainability convictions with engagement and voting.”
In 2022, AllianzGI is focusing its engagement strategy on thematic analysis aligned with the three key themes seen as the most urgent challenges globally:
climate change, planetary boundaries and inclusive capitalism. This strategy comes in addition to its traditional approach, primarily based on bottom-up identification of engagement targets and ESG material risks, such as significant votes against company management at past general meetings,
sustainability issues identified as below market practice and controversies connected to sustainability or governance.
In 2021, AllianzGI’s investment team engaged companies in 299 meetings (2020: 303) and covered 482 topics (2020: 491).
AllianzGI often engaged on more than one topic per company. Engagements in 2021 spanned 238 companies in 27 markets globally (2020: 224 companies in 29 markets). In 52% of cases, AllianzGI spoke to companies on corporate governance, business conduct and transparency issues.
Environmental issues continued to gain relative importance in its engagement activities, increasing their share by another three percentage points to 22% of all engagements in the past year. Many of the discussions focused on climate risk assessments, exploring how companies are reflecting climate risk and the low-carbon transition in their strategy, operations and product pipelines.
AllianzGI registered 28 stewardship outcomes where companies took steps that we had explicitly and specifically referenced during our engagement (2020: 23).
Some cases involved multi-year engagement. Executive remuneration and governance issues were the focus in about ¾ of these cases.
In 2022, AllianzGI is expanding and intensifying collaborative engagement activities and working with industry associations.
In 2021, AllianzGI undertook several collaborative engagements with a focus on climate issues as well as governance and joined industry initiatives such as the French investor group of the 30% Club to promote gender diversity in the French market. AllianzGI is also committed to helping shape industry standards that are effective, fair and reasonable and joined a number of new initiatives such as the Net Zero Asset Managers initiative and the One Planet Asset Managers (OPAM) initiative.
As well as actively engaging with the businesses in which it invests, AllianzGI fulfils its fiduciary responsibilities to clients by exercising voting rights on their behalf during shareholder meetings. AllianzGI participated in 10,190 shareholder meetings in 2021 (2020: 10,183), representing 95% of all votable meetings.
It voted against, withheld or abstained from at least one agenda item at 68% of meetings globally (2020: 72%), and opposed 21% of all resolutions (2020: 23%).
Antje Stobbe, Head of Stewardship, commented: “Proxy voting gives us a platform to influence the issues that matter globally and will be key to our commitment to issues like inclusive capitalism and climate change. We will continue to encourage a just transition among the companies we invest in, promoting net zero goals and pushing firms to tackle challenges such as excessive executive pay and board diversity.”
Allianz Global Investors (AllianzGI) is an active investment management firm that is part of the Allianz Group. Our mission is to secure the future for our clients.
Working in 23 locations, we manage EUR 673 * billion of assets on behalf of institutional and retail clients worldwide – from pension funds and blue-chip multinationals to charitable foundations, family offices and individuals.
Active is: Allianz Global Investors
1 EU Sustainable Finance Disclosure Regulation
Data as of December 31, 2021
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[ * Subject to change – depends on the content of the material which may mention certain investment instruments that involve particular risk. ]
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