Allianz is an international financial services provider and the leading insurer in Germany. It manages assets worth €1,800 billion (of which €1,3 billion are third-party assets). The insurer has signed the UN Principles for Responsible Investment, the UN Principles for Sustainable Insurance, the UN Global Compact as well as being an investor member of the Carbon Disclosure Project.
Revenues 2014: €32,190 million
Total Assets 2014: €711,079 million
Dirty Profits 4 shows Allianz has significant financial links to some of the major carbon emitting companies such as Exxon and Total (combined: €1,043 million in managed shares and bonds). This remains even more incomprehensible considering that the investor’s ESG approach defines critical criteria such as “inappropriate spill management, response and remediation plans” as key issue for companies in the oil and gas sector, which are clearly not met by either Total or Exxon.
In the defence sector, Allianz considers arms exports to high-tension areas as controversial, where these are identified the planned investment transaction should be referred to the “appropriate ESG Center of competence” for further in-depth assessment -according to its ESG screening process. Yet, this report found that Allianz is invested in the defence companies Airbus (including MBDA), Lockheed Martin, Rheinmetall and Rolls-Royce (combined: €275 million in managed shares and bonds), all of whom are delivering arms to conflict regions.
Even though Allianz made some first, very commendable steps to decrease its support for environmentally controversial companies by announcing its phase out of coal-based business models in 2015, this analysis shows that there is room and imperative for further improvements of its ESG policies.
Allianz was once again included in the Dirty Profits 4 report, details of the financial ties to selected controversial companies can be found within the report and detailed data tables from the research period 2013-2015 can be downloaded here.
For detailed information regarding the controversial companies Allianz was / is invested in between 2012-2014, please refer to the Dirty Profits 3 report. More detailed tables regarding investments are available to download here.
For detailed information regarding the controversial companies that Allianz was invested in, between 2011 and 2013, please refer to the Dirty Profits 2 report. More detailed tables regarding investments are available here.
In the Dirty Profits 1 : For detailed information regarding the companies that Allianz SE was invested in,between 2010 and 2012, please refer to the PROFUNDO research report links below. The PROFUNDO report analyzes the investments between Allianz (and many other financial institutes) and controversial companies.