ESG Integration Framework Reputational risks • Negative reputational impacts on Allianz stakeholders (investors, customers, business partners, regulators, staff, ...) Resettlement risks • Incidents of physical harm in relation to resettlement • Relocation of people and land/water/property rights (incl. native peoples) • Resettled persons not duly consulted Workforce risks • Disregard for labor rights including collective bargaining and unionization rights • Incidents of physical harm or inappropriate conduct of security personnel • Involvement in child labor • Involvement in forced labor or human trafficking • Sub-standard working conditions (e.g. health and safety standards, wages, etc.) • Sub-standard working conditions of (sub-)contractors 03.4.9.1 Exclusions regarding investments in and insurance of coal-related infrastructure In May and September 2018, Allianz announced that it would expand its exclusion approach regarding coal-related infrastructure. For details about Allianz’s restrictions on investment in and insurance of coal-based business models see section 03.9.2. 20