ESG Integration Framework 02 Roles and responsibilities This section outlines the key elements of the roles and responsibilities Key functions of the ESG Board include: of actors involved in the ESG governance of Allianz Group. • Strategically defining and continuously developing ESG ambition for the Allianz Group 02.1 Group ESG Board • Guiding the Group ESG approach and approving yearly ESG work-plan The Group ESG Board, established in 2012, is a dedicated body to • Defining and prioritizing ESG topics for the Group address environmental, social and governance (ESG) issues within • Regularly informing the Allianz SE Board of Management on Allianz. The Allianz SE Board of Management members in charge of ESG topics and activities • Investment Management & ESG (chairperson), • Positioning the Group towards critical ESG topics (in • Operations and IT, collaboration with relevant functions within Group • Insurance German Speaking Countries and Central & Eastern Communications and Corporate Responsibility) Europe, • Reviewing and recommending ESG-related policy proposals for • Asset Management, US Life Insurance, and consideration by the Board of Management and/or relevant • Global Insurance Lines & Anglo Markets, Reinsurance, Middle Board committees. East, Africa, • Engaging on ESG topics with relevant stakeholders, e.g. peers and business partners, NGOs. sit on the ESG Board. Further members are the Chief Sustainability Officer, Head of Group Communications and Responsibility, Head of Group Risk and the Head of Group Compliance. A range of senior 02.2 Global Sustainability executives and functional attendees , which vary according to topic, Global Sustainability is responsible for steering the integration support the ESG Board. of environmental, social and governance (ESG) aspects into core The Board is responsible for integrating and strengthening ESG investment and insurance activities. Global Sustainability is headed aspects within business segments and own operations of Allianz by a Chief Sustainability Officer and reports directly the Chairperson Group. insurance, investment and asset management activities. of the Group ESG Board. The Board further takes over responsibility for the oversight and Tasks of Global Sustainability with regard to ESG Business Integration steering of all sustainability matters, including next to ESG business include amongst others: integration, the Group-wider climate strategy and corporate citizenship topics. Integrating ESG in core lines of business of Allianz Group The ESG Board meets quarterly making recommendations on ESG • Preparing ESG integration strategies, policies, guidelines and topics for decision-making to the Allianz SE Board of Management rules for Allianz proprietary investments or its committees (for example Group Finance and Risk Committee). • Preparing ESG integration strategies, policies, guidelines and 4 rules for Allianz insurance segments