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 Energy consumption from office buildings in gigajoules (GJ) per employee This is a transition solution that signals to For commuting, we support employees the markets to meet demand with real- to use low carbon options. In 2023, 84% 19.2 world solutions. of our headcount worldwide had access 17.0 16.6 Reducing emissions from to o昀케ces with a “green” commuting plan 14.4 Energy business travel and infrastructure in place to support it consumption (2022: 84%). 12.5 target by 2025: Business travel accounted for 70% of GHG 17.5 GJ per emissions from our operations in 2023 A considered approach towards business employee travel is crucial to stay below our 2025 (2022: 53%). GHG business travel target, and to GJ/employee As it is our highest source of emissions, gradually decrease associated emissions we have committed to achieve a 41% in line with Allianz’s 2030 intermediate reduction in GHG per employee from targets for operations. business travel by 2025 against the In addition, a careful review and 2019 baseline. enforcement of our global travel policy 2019 2020 2021 2022 2023 Overall, we achieved a 44% reduction in will support the consideration of more 54 baseline travel emissions per employee against our sustainable ways of travelling, including Target: 9% reduction by 2025 (against 2019 baseline). baseline emissions in 2019 (2022: 60%). less 昀氀ying. Actual: 35% reduction 2019–2023. See chart on page 87. The lifting of global Source: Allianz Global Investors, as at 31 December 2023. travel restrictions post-Covid-19 led to Reducing paper use an increase in face-to-face interactions, By the end of 2023, AllianzGI had Increasing use of This is achieved through agreements including team reunions, client meetings achieved a reduction of 77% in paper used renewable electricity with suppliers on “green tari昀昀s” and and event attendance. This has caused per employee against a 2019 baseline As a signatory of the RE100 initiative, the continuous sourcing of unbundled a rise in kilometres travelled, particularly (2022: 74%). We continue to exceed the and in line with its speci昀椀c ambitions, Energy Attribute Certi昀椀cates (EACs)55 via air travel, which increased business reduction target set at 20% by 2025. Allianz Group committed to source 100% for renewable electricity. travel emissions compared with the Paper consumption represents less than renewable electricity for its group-wide The purchase of credible unbundled previous year. 1% of our global carbon footprint from operations by 2023. EACs helps meet our goals in the short operations. We use paper mainly for AllianzGI has been RE100-compliant since to medium term, especially in countries external communications with clients, with 2021, using 100% renewable electricity where renewable electricity cannot yet a smaller amount used for internal o昀케ce across its o昀케ces and local data centres. be readily sourced through green tari昀昀s. printing, stationery and business cards. 54 Restated in 2022 due to adjustments of calculation methodology of energy consumption including our 2019 baseline. 55 EACs are an instrument used to document and track the production, distribution and consumption of renewable energy. They do not represent the electricity itself (as they are unbundled from production), but allow us to prove that the energy we use is directly attached to electricity produced at a speci昀椀c, identi昀椀able renewable energy site. Allianz Global Investors Sustainability and Stewardship Report 2023 88