03.2 Strategy Our response – active industry and policy engagement was building a sustainable future, and this covered mobilise and present potential climate investments and As a part of our support for TCFD, we recognise the ESG issues such as climate change, as well as the latest financing. During this two-day in-person and digital necessity for a broader change and alignment in the updates in responsible investment practices. More hybrid Summit, Matt Christensen, our Global Head investment industry around climate risks and opportunities. information including agenda and recorded sessions of Sustainable and Impact Investing, gave a keynote We believe that this can bring several long-term benefits can be found here. speech and joined a panel as part of the closing session to our investors: more attention and efforts from The World Climate Summit – the investment equivalent on 7 November discussing: The Climate Decade – investees due to more aligned climate expectations, of COP 2021 (7-8 November 2021): the summit was a Collaborating to Overcome Challenges and Maximise more precise measurement through clear requirements critical platform for responding to the growing climate Opportunities for Transformational Action by 2030. on climate scenarios that meet investor needs, and more challenge, promoting relevant solutions, innovations and refined climate investment frameworks. best practice networks. It functioned as a cross-sectoral Industry consultations collaboration and solutions-focused platform for Case study 2 We responded to consultations from local and regional government and project development stakeholders to authorities including the European Commission, the US SEC consultation on climate Securities and Exchange Commission (SEC), the Financial change disclosures Conduct Authority in the UK, the Monetary Authority of Case study 1 Singapore and the Securities and Futures Commission of Hong Kong (SFC) on various sustainability topics In June 2021, AllianzGI provided feedback to the US Securities including climate. Our responses set out our views and SFC consultation and Exchange Commission’s consultation on climate change recommendations on these topics. on climate risk disclosures. Our main messages were: – A need for global alignment on ESG and climate disclosure. Sponsoring industry dialogue – Both financial materiality and environmental and social AllianzGI continues to sponsor major events In October 2020, the Hong Kong SFC published a consultation materiality should be taken into consideration. We also demonstrating our commitment to tackling climate paper on the Management and Disclosure of Climate-related emphasised that the results of broadly established pioneering change in the hope of working towards a greener Risks by Fund Managers. In the consultation paper, the SFC work, experience and accumulated expertise of organisations has proposed to amend the Fund Manager Code of Conduct already dedicated to climate disclosure, especially the TCFD future, and accelerating our sustainable investment (FMCC) to introduce requirements for fund managers to framework, become cornerstones of the global standards and drive. In 2021, we sponsored, among others, the take climate-related risks into consideration in their investment national requirements for climate and potentially also other following events: and risk management processes as well as to make appropriate ESG-related disclosures. disclosures to meet investors’ growing demand for climate risk The PRI Digital Conference (18-21 October 2021): information and to combat “greenwashing”. In our consultation Read more about the AllianzGI response to the SEC AllianzGI has a long association with United Nations feedback we provided our views and recommendations Additionally, we welcome the SEC’s proposal for climate on multiple topics, for instance referencing the TCFD’s disclosures, announced in March 2021. In our view it will Principles for Responsible Investment (UN PRI). We were recommendations for the SFC’s proposed requirements, enable more robust, reliable and comparable information on one of the first 50 asset managers globally to become a scope of requirements for climate related risks, and baseline climate-related risks facing public companies. We will provide signatory to the PRI in 2007. The PRI Digital Conference requirements and standards. our feedback and we encourage companies, investors and brought investors, policymakers and other sustainable Read more about the AllianzGI response to Hong Kong SFC other stakeholders to take the opportunity to provide their finance stakeholders together from around the world feedback through this consultation and help shape the for an online exchange of views and ideas. The theme disclosure requirements. 14 AllianzGI TCFD Report 2021