Allianz has reported progress in its sustainability initiatives for the 2024 fiscal year, with reductions in greenhouse gas (GHG) emissions and growth in sustainable investments and insurance solutions.
Across key areas identified in the Allianz Net-Zero Transition Plan—including insurance, investment portfolios, and internal operations—the company recorded a reduction in GHG emissions. Sustainable investments grew by 2.7% to €171.9 billion, an increase of €4.5 billion, while revenue from sustainable solutions in the Property & Casualty (P&C) business reached €4.9 billion, up €1.9 billion from the previous year.
Günther Thallinger, Member of the Board of Management at Allianz SE, acknowledged the economic pressures and evolving regulatory scrutiny surrounding sustainability initiatives but reiterated the company’s commitment to its environmental and social targets. “We have made concrete progress on our intermediate 2030 targets, contributed to growth in our P&C segment and investment performance, supported communities, and engaged with stakeholders to turn today’s challenges into opportunities,” he said.
Allianz reported notable reductions in emissions across its operations. Carbon emissions from motor retail insurance fell by 6.8%, while emissions in the commercial insurance portfolio declined by 11.7%, both measured against a 2022 baseline. The company also reported a 50.7% reduction in absolute GHG emissions from its proprietary investments (listed corporates) compared to 2019, alongside a 61.5% reduction in emissions per employee across its own operations.
The insurer has continued to expand its sustainable product offerings. Among the latest initiatives is Surety Green2Green, launched by Allianz Trade, which provides financial guarantees for sustainable projects in areas such as renewable energy and green infrastructure. Premiums collected from the initiative are allocated to green bonds, reinforcing a cycle of sustainable investment.
Allianz also reported increased investment in employee development, with average learning hours per employee rising to 60.1—an increase of 10.1 hours compared to 2023. The company contributed €33.3 million to corporate giving, supporting disaster relief, non-profit organisations, and other community initiatives.
Emilia Macarie, Chief Sustainability Officer at Allianz SE, highlighted the growing risks faced by insurers due to climate-related disasters, with 2024 ranking as the third most expensive year on record for insured losses. “Less than 50% of these losses were insured, underscoring the broader impact on businesses, individuals, and society,” she said.
Allianz plans to continue its focus on sustainability through 2030 and beyond, with further expansion of sustainable financial products and strengthened community partnerships. The company aims to enhance resilience across its operations and among its stakeholders while integrating climate adaptation measures into its long-term strategy.
