Allianz commits 20 bn. euros for a more sustainable world by the next decade

ESG Today writes that the new goals were part of the announcement of the company's first net-zero transition plan, which outlines the measures implemented by officials in order to achieve long-term climate goals.

In this sense, Allianz is committed to become a net-zero company by the year 2030 and at the same time, to have a fully decarbonized investment portfolio by mid-century. Also, company representatives said that they plan to achieve 150% profitability from renewable and cleantech projects in its commercial insurance segment by 2030.

So far, the company is said to be one of the leading insurers that cover wind and solar farms, while it also plans to expand its insurance services to hydrogen-plants, as well, as these become an important part of the energy transition.

At the same time, Allianz is looking to reduce its emissions output in the insurance segment by 45% by 2030, as well as by 30% in its retail motor segment.