"“For Allianz, countering climate change is a priority and we welcome moves to significantly reduce emissions in the UK. We are committed to providing sustainable solutions for customers, such as our suite of Engineering, Construction & Power products which provide insurance cover for the construction and operation of renewable technologies including commercial operators of wind, solar and hydro power.
“We believe as a business we have a key role to play in supporting a transition to a low carbon future and are really proud that for the second year running the Allianz Group topped the Dow Jones Sustainability Index as most sustainable insurer. The Allianz Group has already taken concrete actions, such as withdrawing from insuring single coal-fired power plants and coal mines in operation or planning. To show our commitment, a full phase-out of all coal-based business models from our proprietary investments and Property & Casualty insurance portfolios will take place by 2040. We have also set long-term climate goals, linked to the Paris Climate Agreement’s target to limit global warming and we are committed to sourcing 100% renewable power for group-wide operations by 2023.”