Allianz SE is a leading German multinational insurance company that operates in the property and casualty (P&C) insurance premiums sector. The company is headquartered in Munich, Germany, and has a global presence in more than 70 countries. Allianz SE offers a wide range of insurance products and services, including life insurance, health insurance, property and casualty insurance, and asset management.
Allianz SE is committed to sustainability and decarbonisation, and has set ambitious targets to reduce its carbon footprint and promote renewable energy. The company has pledged to achieve net-zero emissions by 2050 and has set interim targets to reduce its greenhouse gas emissions by 25% by 2025 and by 50% by 2030. Allianz SE is also committed to supporting the transition to a low-carbon economy by investing in renewable energy and promoting energy efficiency.
One of the key initiatives of Allianz SE in promoting renewable energy is its corporate energy program. The program aims to increase the share of renewable energy in the company's energy mix and reduce its dependence on fossil fuels. Allianz SE has set a target to source 100% of its electricity from renewable sources by 2023, and has already achieved a significant milestone by sourcing 100% of its electricity in Germany from renewable sources since 2017.
To achieve its renewable energy targets, Allianz SE has implemented various measures, including investing in renewable energy projects, entering into corporate power purchase agreements (PPAs), and promoting energy efficiency. The company has invested in renewable energy projects such as wind and solar farms, and has also entered into long-term PPAs with renewable energy developers to secure a stable and cost-effective supply of renewable energy. Allianz SE has also implemented energy efficiency measures such as energy-efficient lighting, heating, and cooling systems, and has promoted energy-saving practices among its employees.
One of the notable examples of Allianz SE's corporate PPA is its agreement with the Danish renewable energy company, Ørsted, for the purchase of 50% of the output of the Borkum Riffgrund 2 offshore wind farm in Germany. The 10-year PPA, signed in 2018, will supply renewable energy to Allianz SE's German operations, and will help the company to achieve its renewable energy targets.
Allianz SE's commitment to sustainability and decarbonisation has been recognised by various sustainability ratings agencies. The company has been included in the Dow Jones Sustainability Index (DJSI) for 20 consecutive years, and has been rated as the most sustainable insurer in the world by the Global 100 Most Sustainable Corporations in the World index.
In conclusion, Allianz SE is a leading German multinational insurance company that operates in the property and casualty insurance premiums sector. The company is committed to sustainability and decarbonisation, and has set ambitious targets to reduce its carbon footprint and promote renewable energy. Allianz SE's corporate energy program, which includes investing in renewable energy projects, entering into corporate PPAs, and promoting energy efficiency, is a notable example of its commitment to renewable energy. The company's efforts in promoting renewable energy have been recognised by various sustainability ratings agencies, and Allianz SE is well-positioned to continue its leadership in sustainability and decarbonisation in the insurance industry.