01 Our vision of 02 Sustainable 03 Active 04 Strengthening sustainability 05 Appendices sustainability investing stewardship in our operations 01.5 Our ambition for 2024 Principle 4 3. From the “transition of regulation” Through investment initiatives, such as strategies in our private markets business. to the “regulation of transition” the Emerging Markets Climate Action Moreover, we are reviewing ways to build 15 Fund (EMCAF) and our involvement in and propose credible transition 昀椀nance The arrival of the UK’s Sustainability 16 the One Planet SWF Network, we have strategies in public markets, using data and 10 Disclosure Requirements (SDR), already been developing transition methodologies developed in recent years. We see an appetite for discussions on the ASEAN Taxonomy,11 and the recent consultation on the EU’s forward-looking climate 12 SFDR have prompted the 昀椀rst stages of measures from the building on core elements of promoting market and are pleased sustainable 昀椀nance. to offer our clients an The concept of transition 昀椀nance13 innovative KPI to assess is steadily being formalised within sustainable investing frameworks. the net-zero transition of We view this as critical, since transitions their investments.” reach across ESG, climate, sustainability and impact investing. Thomas Roulland Furthermore, the notion of moving Head of Sustainability from “brown” to “green” has stronger Standards & Analytics resonance around the world than the opaque concept of simply being “green”. The launch of a consultation on transition 昀椀nance strategies by the Glasgow Financial Alliance for Net Zero (GFANZ) in September 2023 marked a signi昀椀cant development.14 10 Source: FCA, Sustainability disclosure requirements, November 2023. 11 Source: ASEAN, ASEAN taxonomy for sustainable 昀椀nance, December 2023. 12 Source: ESMA, Final report SFDR Delegated Regulation amending RTS, December 2023. 13 Source: OECD, Guidance on transition 昀椀nance, December 2023. 14 Source: GFANZ, GFANZ launches consultation on transition 昀椀nance strategies and measuring the impact on emissions, September 2023. 15 Source: Allianz Global Investors, Emerging Markets Climate Action Fund (EMCAF), December 2023. 16 Source: One Planet SWF Network, December 2023. Allianz Global Investors Sustainability and Stewardship Report 2023 13