05.3 Metrics and targets 3. Targets used by the organisation to manage climate At AllianzGI, we will focus continuously on our net-zero business operations in line with the science underpinning related risks and opportunities and performance commitment as a signatory of NZAM initiative. In the the Paris Agreement climate goal. In 2020, it set GHG against targets near future, we will increase the scope of our assets and emission targets to 2025 in line with the latest climate Managing climate impact of our investments set intermediate targets for our third-party client assets. science. AllianzGI has committed to reduce GHG We will continue to actively engage with our institutional emissions by 38% per employee by 2025 (against a We aim to be as transparent as possible in our 2019 baseline) across Scope 1, 2 and selected Scope 3 climate-related profile, including the disclosure of our clients and distributors on integrating net-zero objectives emissions (covering energy-related emissions, business investment-related climate metrics. As a committed in their investments and into our mutual funds. We plan travel and paper use). signatory of the NZAM initiative,1 we support the goal to review our targets and progress annually.4 of net-zero greenhouse gas emissions by 2050. Managing the environmental impact of our operations We actively measure and manage our environmental footprint. The tables below provide detailed overviews of As the first step, these targets cover listed equity, As part of our commitment to a sustainable future, we environmental impact of our operations and sustainability corporate debt, infrastructure equity, and infrastructure manage the environmental impacts of our operations related targets and achievements. debt, and reflect the targets set in 2021 by Allianz for its and aim to be a role model in delivering our own 2 proprietary assets based on its commitment as a member targets on climate change and the environment. Our Corporate-level related climate metrics of the UN-convened Net-Zero Asset Owner Alliance. efforts contribute to Allianz goals, including working towards sourcing 100% renewable electricity for our Indicator Unit 2021 2020 2019 The assets in-scope for these targets represent 12% operations by 2023 and reducing greenhouse gas GHG emissions tCO e/employee 0.9 2.1 3.95 of AllianzGI’s overall assets under management. The (GHG) emissions by 38% per employee by 2025 against 2 submitted targets include: a 2019 baseline. Energy consumption GJ/employee 16.1 18.7 20.6 – Listed equity and corporate bonds – a 25% GHG Business travel tCO e/employee 0.4 0.5 2.16 reduction, scopes 1 and 2, by the end of 2024 Our carbon reduction strategy is designed to reduce 2 (baseline year: 2019). GHG emissions from material sources, namely energy Paper consumption kg/employee 9.4 19.4 27.4 use for office buildings and IT, business travel and paper 3 7 – Infrastructure equity – a 28% GHG reduction, scopes 1 use. The strategy focuses on energy-efficient planning, Water consumption m/employee 24.9 35.4 26.0 and 2, by the end of 2025 (baseline year: 2020). construction and operation of buildings, sourcing green Waste kg/employee 75.3 89.7 149.0 – Infrastructure debt – our target is to grow the share electricity and using carbon-efficient vehicles. Allianz of low-emitting and EU taxonomy-eligible assets.3 has committed to set long-term climate targets for its 1. Net Zero Asset Managers initiative 2. Allianz Sustainability Report, page 85, Allianz Grouo Sustainability Report 2021 3. For more information on the Net-Zero Asset Owner Alliance commitment of Allianz Group, please see the Allianz Group Sustainability Report: https://www.allianz.com/en/sustainability.html 4. For more information, please read our Sustainability and Stewardship Report Further information – including our firm-wide exclusion policy, Global Corporate Governance Guidelines and Climate Policy Statement – is available here: https://www.allianzgi.com/en/our-firm/esg/documents#keypolicydocumentsandreports 5. GHG emissions data (old absolute: 3.5 tonnes) has been restated for 2019. 6. This business travel data (old absolute : 1.9 tonnes) has been restated for 2019. 7. Water consumption (old absolute : 20.9 m3) has been restated for 2020. 30 AllianzGI TCFD Report 2021