Introduction Welcome from our CEO, Tobias Pross Welcome to Allianz Global Investors’ 2022 With devastating floods in Pakistan, Sustainability and Stewardship Report South Asia, Malaysia and West Africa, as we reflect on an extraordinary year and heatwaves and drought in Europe, for investors. This is the second year that China and Africa, the year 2022 gave we have combined our sustainability and clear signs of the potential impacts of stewardship reporting in a single report to climate change. provide a holistic view of our commitments and achievements. Our focus this year was AllianzGI’s culture principles – including on emerging from the Covid-19 pandemic putting clients first, being solution-oriented better, stronger and more resilient. and being sustainable in everything But on top of that, we faced unexpected that we do – underpin our commitment. market turbulence driven by the war While our strategic ambition remains in Ukraine and geopolitical instability. the same, with sustainability as a key The impacts have been wide ranging, pillar, our approach is evolving. We have spanning energy security, transition and moved beyond simply incorporating affordability, inflation, rising interest rates, environmental, social and governance supply chain issues and challenging equity (ESG) risk factors into portfolios to think and bond markets. more holistically about sustainability across investment portfolios. These challenges have huge implications for the investment community. But while Our ultimate destination is to be able to investors’ commitment to sustainable achieve and show the true impact of these investing may have been tested, our view investments. This shift is the foundation remains the same. We believe sustainable of our strategic journey from ESG to investing is every bit as crucial to the sustainability to impact by 2030. You can resilience of asset owners, investors, read more about how we are developing the wider industry, and society as a whole. outcome-oriented impact solutions for investors in section 02 of this report. Allianz Global Investors Sustainability and Stewardship Report 2022 04