01 Our sustainability approach 02 Sustainable investing 03 Active stewardship 04 Corporate sustainability 05 Appendix 04.4 Managing the environmental impact of our operations Increasing use of renewable electricity Reducing emissions from business travel Our new Global Travel Policy prioritises As a signatory of the RE100 initiativ Evolving our carbon reporting e, and Business travel accounted for 53% of client-facing business travel over travel for in line with the specific ambitions of this GHG emissions from our operations in internal reasons. Combined with cloud- Our current emissions arise primarily initiative, Allianz Group has committed 2022 (2021: 40%). By the end of 2022, based working and Covid-19-related from business travel (2022: 53%) to source 100% renewable electricity (RE) emissions associated with travel had travel restrictions until mid-year 2022, and energy consumption (2022: 46%) for its group-wide operations by 2023. increased to 0.8 tonnes per employee this played a material role in preventing across Scope 1 and 2, with selected Since 2021, AllianzGI is RE100 compliant. (2021: 0.4 tonnes). Overall, we achieved a surge in business travel activities and parts of Scope 3. Capturing the full a 60% reduction of travel emissions per emissions back to 2019 baseline levels. scope of the impact of our operations, Since 2021, 100% of the electricity used employee against our baseline emissions particularly by looking at the by AllianzGI in its offices and local data in 2019. We are also supporting employees to emissions along the entire value centres has come from renewable sources. commute to work via low carbon means of chain of the company, will be This was achieved through agreements travelling. In 2022, 84% of our headcount equally important. with suppliers on ”green tariffs” and worldwide had access to offices with a the continuous sourcing of unbundled green commuting plan and infrastructure We have started by capturing Energy Attribute Certificates (EACs)6 for in place to support it. the footprint arising from flexible renewable electricity. working and some cloud-based Looking ahead systems and will gradually extend The purchase of credible unbundled EACs our measurement of emissions to plays an important role in delivering With business travel being our highest upstream and downstream activities temporary solutions to meet our goals in source of emissions, we have raised that we identify as material. the short- to medium-term, especially in our target to a 41% reduction of countries where renewable power cannot GHG per employee from business Additionally, our growth across the yet be readily sourced through green travel activities by 2025 against markets and offices in the APAC tariffs. This is a temporary solution while the 2019 baseline (previously 20%). region will be reflected in the scope the markets transition to meet demand Our ambitious target, investment in of our future reporting to ensure with real-world solutions. more sustainable ways of travelling global performance and progress is and the continued enforcement of the captured, tracked and enhanced. Global Travel Policy will contribute to keeping our footprint small. 6 EACs are an instrument to document and track the production, distribution, and consumption of renewable energy. EACs do not represent the electricity itself (as they are unbundled from the production) but allow us to prove that the energy we use is directly attached to electricity produced at a specific renewable energy site which can be identified. Allianz Global Investors Sustainability and Stewardship Report 2022 116