01 Our vision of 02 Sustainable 03 Active 04 Strengthening sustainability 05 Appendices sustainability investing stewardship in our operations 04.3 Ensuring responsible business conduct Principle 3 5 04.3.6 Being transparent In response to increased regulatory about tax requirements in Luxembourg, we have Our ambition is to take a responsible produced risk appetite statements for approach to the management of taxes. companies and funds and adhere to rules We aim to be recognised as a compliant, of engagement for companies. cooperative and reliable taxpayer in each Responsible communication country where we operate. In 2023, Allianz with clients consolidated its tax transparency reporting We have always been committed to products while keeping the same level client communications that are fair, of information. To support this approach, not misleading, accurate and up to the Allianz Group Tax Strategy is now date in all material respects. We strive published as a separate document online. to meet the highest standards for client See the Allianz Group Tax Strategy communications in accordance with Report 2023 and regulatory requirements under local laws. AllianzGI’s UK Tax Strategy for Our new client communications policy, more information. training and handbook have been rolled out. They reinforce employees’ 04.3.7 Strengthening knowledge on the mandatory principles internal controls of the policy, as well as the standards expected and important guidelines for all We continuously enhance our internal communications to clients, including the control framework, processes and preparation, review and dissemination of procedures to ensure they remain robust materials. Training on this is mandatory to and e昀昀ective in sustaining the trust of protect our clients and our business – all clients, employees and stakeholders. employees have access to this training and This includes ongoing work to review must con昀椀rm that they have completed frequently changing sanctions regimes. it successfully. Our global Know Your Customer (KYC) standards were amended with the addition of UK annexes – where necessary –to re昀氀ect the 2023 project to transform our UK branch into a standalone a昀케liate. Allianz Global Investors Sustainability and Stewardship Report 2023 85