01 Our sustainability approach 02 Sustainable investing 03 Active stewardship 04 Corporate sustainability 05 Appendix 03.9 Industry engagement and commitments Principles 4 7 10 Sustainable pathways to change In 2022, four subgroups investigated EU Taxonomy, (ii) the usability of the wider task force on SFDR implementation which require industry standards to be aspects including Social Taxonomy sustainable finance framework, and (iii) developed guidance for the drafting of effective, fair and reasonable and technical criteria for EU Taxonomy data science. the SFDR disclosure. We take part in to promote well-functioning objectives such as Circular Economy and working groups on corporate governance Usability of the Taxonomy. We advised European Fund and Asset Management and responsible investment and helped markets. We are an active on the development of an environmental Association (EFAMA) to shape discussion on preserving member of industry committees, transition taxonomy, looking into AllianzGI is a member of the EFAMA shareholder rights in virtual shareholder working groups and initiatives economic activities that are significantly Stewardship Committee and became meetings, which arose in the context of the around the world that harmful, that transition between harmful the chair of the Distribution Committee emergency laws in Germany. and sustainable and that do not have a in 2022. It also became a member of support this. significant impact on the environment. the sub-groups for Sustainable Finance Association Française de la Gestion Disclosure Regulation (SFDR) and Markets Financière (AFG) In 2022, we continued to build on We also contributed to the report on in Financial Instruments Directive (MiFID) AllianzGI is a long-term member of our memberships to help shape the the Usability of the Taxonomy which sustainability preferences. As a member AFG and we actively participate in thematic agenda, especially around contains a detailed overview of the of these working groups, we participate various ESG working groups. At the climate. We engaged with national and first implementation phase of the in consultations and discussions on a Corporate Governance Committee, international regulators, policy makers Taxonomy by economic operators and variety of sustainability topics at the we contribute to the development of and politicians in discussions ranging from across financial markets. It also includes European level. proxy-voting guidelines that we would engagement, stewardship and net zero specific recommendations for targeted like French corporations to apply. commitments to regulatory framework adjustments to enhance the usability Bundesverband Investment and Asset We also discuss how to improve corporate consistency, implementation timelines and of the taxonomy and improve the Management (BVI) governance practices as an opportunity ESG ratings. coherence of the broader sustainable We chair the BVI Sustainability Committee to shape the agenda towards better finance framework. which focuses on regulatory and market stewardship practices. EU Platform on Sustainable Finance developments. This includes developing Through Allianz, we are a member of the The platform’s first mandate ended industry positions such as on the In 2022, we contributed to consultations EU Platform on Sustainable Finance, an in October 2022. The next platform’s requirement of minimum standards for related to the measurement of sustainable advisory body subject to the European mandate will run from Q1 2023 to Q4 Article 8 SFDR products and industry investment (under SFDR) and promoted Commission’s horizontal rules for 2024. We will in particular contribute concepts such as the target market a higher level of harmonisation across expert groups. The platform assists the to the work of the new subgroup 1 on concept to facilitate exploration of client’s European jurisdictions. Commission in developing its sustainable usability and data which will advise the sustainability preferences at the point finance policies, notably the development EU Commission on (i) the usability of the of sale. We are an active member of the of the EU Taxonomy Framework. Allianz Global Investors Sustainability and Stewardship Report 2022 97