01 Our sustainability approach 02 Sustainable investing 03 Active stewardship 04 Corporate sustainability 05 Appendix 04.4 Managing the environmental impact of our operations 4, 5 The reduced workforce and office closures achieved through the continued sourcing Energy consumption from office buildings in gigajoules (GJ) per employee brought about a decline in emissions of renewable electricity globally and 19.2 and resource consumption. Global travel investments in the efficiency of our restrictions until mid-2022 and strict travel operations. The latter involves improved 17.0 16.6 policies also prevented a surge above the energy management, including centralised Energy target in business travel emissions in 2022. regulation of heating and cooling, 14.4 consumption target by 2025: As outlined in the next sections, we have decreased use of air conditioning post- 17.5 GJ per put further initiatives in place to prevent a pandemic, as well as refurbishments and employee future rise in emissions, and developments office moves to more sustainable buildings. of GHG emission will be closely monitored GJ/employee in 2023. Looking ahead Reducing energy consumption The expansion of our energy Our 2025 target is to reduce energy saving initiatives with a focus on consumption in our office buildings by rethinking ways of working, use of 2019 2020 2021 2022 9% per employee against a 2019 baseline. office spaces and investment in more baseline Our energy consumption goal was sustainable IT and energy-efficient amended (previously -10%) due to an equipment will facilitate adjustment of the calculation methodology a long-term decrease in our energy by Allianz Group, resulting in a higher consumption in 2023 and beyond. baseline and absolute targets for energy Energy accounts for 46% of AllianzGI’s 4 total GHG emissions in 2022. 82% of consumption. In 2022, we achieved a 13% all our energy-related emissions are decrease per employee in our internal generated through our office buildings. energy consumption from office buildings Where heating and cooling is not (2021: 25%). powered by renewable electricity, Apart from the major effects of office we are working to introduce more closures in the US, decreases in energy sustainable energy solutions. consumption across the offices were 4 The adjustment of the energy consumption calculation methodology led to a restatement of the energy baseline for 2019, and the actual numbers for 2020 and 2021. The energy used by local data centres is now excluded from our energy consumption target per employee. Emissions associated with energy consumed by local data centres are integrated in our total GHG footprint along with emissions caused by flexible and hybrid working arrangements and selected cloud-based systems. 5 All office buildings procure 100% renewable electricity. Allianz Global Investors Sustainability and Stewardship Report 2022 115