01 Introduction and strategy 02 Measuring and managing sustainability 03 Climate change related disclosure 04 Strengthening our foundation 05 Our universal principles 01.1 Message from the CEO Building confidence in Allianz 2022 was supposed to be the year that the world would return to “business as usual,” as we started to recover from the depths of the COVID-crisis. Instead, new challenges to society mounted: the invasion of Ukraine in February 2022 created the biggest humanitarian crisis in Europe since WWII, forcing millions of people out of their homes and inspiring the rapid mobilization of will and resources to help them. Global economic growth slowed as tangible effects of climate change increased: a warming world experienced more frequent and severe natural catastrophes. Intersecting geopolitical, economic, and environmental challenges are weighed on individuals, institutions, and communities around the globe. Polarization in society became more entrenched and linked to negative financial outcomes for people, affecting their optimism and outlook on our future. 2022 was also a year that proved the r esounding value of sustainability. How an organization acts on matters of sustainability affects its ability to grow, access capital, attract talent, and enhance customer loyalty. Sustainably managing an organization’s resources and collaborating with partners earns trust and fosters stability in times of social, economic, and environmental volatility. Allianz’s strong financial performance in 2022, our outstanding emplo yee engagement results, and our status as Interbrand’s highest-ranked insurance brand in the world reflects our resonance with stakeholders, our reliability, and our resilience as a company. This report brings together our ambition, str ategy, commitments, and contributions to shape a more sustainable future. It details the work done across Allianz in 2022, in collaboration with our many partners, that helps build, grow, and protect more resilient lives, businesses and economies. In these pages, you’ll read about our operational progress towards net-zero and our business strategies to deliver climate solutions, such as adjusting our thermal coal investment and underwriting strategy to be more inclusive of low-carbon energy efforts. You will learn about our many programs to bring education and job training to the most vulnerable members of society, with a focus on preparing talented youth and people with disabilities for employment in a transitioning economy. And you’ll read about our industry leadership in blended finance and how we use it to unlock the power of public and private investment capital at scale, helping to build sustainable economies in developing and emerging markets. 05 Allianz Group Sustainability Report 2022