01 Our vision of 02 Sustainable 03 Active 04 Strengthening sustainability 05 Appendices sustainability investing stewardship in our operations 02.4 Climate-related risks and opportunities Principle 4 Decarbonisation targets We will continue to increase the scope of We want to be as transparent as possible our assets and set intermediate targets for regarding our climate-related pro昀椀le, our third-party client assets. We will also including investment-related climate actively engage with institutional clients metrics. We submitted our 昀椀rst NZAMi and distributors to integrate net-zero interim targets at the beginning of 2022, objectives in their investments and into covering listed equity, corporate debt, our mutual funds. We aim to review our infrastructure equity and infrastructure targets and progress annually. debt. These targets re昀氀ect those set by We use a variety of indicators across Allianz in 2021 for its proprietary assets as di昀昀erent lines of business to monitor, a member of the UN-convened Net-Zero assess and steer climate-related Asset Owner Alliance (NZAOA). aspects of the economy. Our measured See the Allianz Group Sustainability investment-related carbon footprints Report 2023. (Scopes 1 and 2) are based on the For AllianzGI, assets in scope of the issuers’ carbon emissions data from targets represent 14% of overall assets data providers. under management: • Listed equity and corporate bonds – 25% GHG reduction, Scopes 1 and 2, by the end of 2024 (baseline year: 2019). • Infrastructure equity – 28% GHG reduction, Scopes 1 and 2, by the end of 2025 (baseline year: 2020). • Infrastructure debt – our target is to grow the share of low-emitting and EU taxonomy-eligible assets. Allianz Global Investors Sustainability and Stewardship Report 2023 29