01 Our vision of 02 Sustainable 03 Active 04 Strengthening sustainability 05 Appendices sustainability investing stewardship in our operations 04.4 Managing the environmental impact of our operations Our e昀昀orts to address the challenges We have put initiatives in place to achieve These practices and processes are Our current emissions arise primarily from of climate change and reduce our these reduction targets as detailed oriented towards ISO14001 and business travel (2023: 70%; 2022: 53%) environmental impact contribute to in the following pages. The baseline ISO50001 standards. Implementation and and energy consumption (2023: 30%; Allianz Group’s environmental goals year for our environmental operational compliance with the EMS are monitored 2022: 46%), particularly from heating our for its own operations including reduction targets is 2019 across all by Allianz Group through the Group o昀케ces; paper consumption makes up less its intermediate target to reduce entities belonging to AllianzGI, and the Environmental O昀케ce (part of the Global than 1% of our global footprint. greenhouse gas (GHG) emissions wider Allianz Group. This also 昀椀lters out Sustainability O昀케ce) and supported by Accordingly, our strategy includes by 65% by year-end 2029 (against a the e昀昀ects of the Covid-19 pandemic. the Allianz Group Board of Management. initiatives focusing on the energy e昀케cient 2019 baseline). The applicable intensity ratio for our Sign-o昀昀 of AllianzGI’s environmental planning and operation of o昀케ce buildings, See Allianz Group Climate targets is GHG emissions per employee operational data is with the AllianzGI sourcing green electricity, using carbon Change Strategy. or resource consumption/output Global Chief Financial O昀케cer as part of e昀케cient transport and reducing air travel. We are committed to reducing the global per employee. the 昀椀rm’s 昀椀nancial reporting. environmental impact from our operations Our environmental Reducing GHG emissions by 2025 against a 2019 baseline as follows: management system AllianzGI’s climate targets are set in line 57% Reduction target per employee by 2025: For the reporting, monitoring and with the latest science underpinning the reduction in GHG emissions globally management of our environmental Paris Agreement. We are committed to per employee in 2023 against the 2019 GHG 52% performance and footprint, we apply Allianz reducing our GHG emissions per employee baseline (2022: 59%). Business travel 41% Group's Environmental Management by 52% by 2025 against our 2019 baseline. Energy consumption in o昀케ces52 9% System (EMS). It guides the monitoring This is a result of e昀昀orts and investment Paper consumption 20% and management of our carbon footprint, Our carbon reduction strategy focuses on in energy management across our o昀케ces, Water consumption 15% use of energy and natural resources, reducing GHG emissions from material including the centralisation of heating and Waste output 14% such as water, and e昀昀orts to reduce waste. sources across Scope 1, Scope 2 and cooling, as well as operational changes, The EMS provides all Allianz entities with selected parts of Scope 3, with a particular including the closure of o昀케ces and the In alignment with the Allianz Group target clear standards and controls, supports focus on business travel and energy increasing transition to public cloud of RE100 by 2023, we have procured 100% environmental data collection, promotes consumption. The categories currently computing away from local data centres. renewable electricity for our o昀케ces and transparent reporting of environmental included in Scope 3 are energy-related 53 emissions, business travel and paper use. data centres since 2021. impacts and improves environmental management governance practices. 52 The energy target only re昀氀ects the targeted energy consumption in o昀케ce buildings; however, the respective emissions associated with the energy use of non-o昀케ce sites, such as local data centres, remote working and public cloud are incorporated into our overall corporate footprint. 53 Since 2021, 100% of the electricity used by AllianzGI in its o昀케ces and local data centres has come from renewable sources. This was achieved through agreements with suppliers on ”green tari昀昀s” and the continuous sourcing of unbundled EACs for renewable electricity in regions where green tari昀昀s are not available yet. Allianz Global Investors Sustainability and Stewardship Report 2023 86