02 What are you doing about climate change? Tackling climate change “ Reaching net-zero is not simply reducing emissions and carrying on with the business models of today. There are profound changes and opportunities that will come from the net-zero economy. We see new business opportunities and strong wins for those ready to lead.” Günther Thallinger Member of the Board of Management, Allianz SE Building confidence in tomorrow... Collaborating across the industry for a net-zero future As a founding member of the U.N.-convened Net-Zero Asset Owner Alliance, we’ve committed to reduce the greenhouse gas emissions of our proprietary investment portfolios to net-zero by 2050, thus enabling a low carbon future. We have set an intermediary target to reduce greenhouse gas emissions by 25% by year-end 2024 compared to a 2019 baseline. % reduction of GHG emissions per employee (against 2019 baseline). % of our electricity came from renewable, low-carbon sources in 2021. Our goal is to reach 100% in 2023. 01 We anticipate the risks of a changing climate – looking to the future to protect people from climate change. We offer advice and encourage the companies we invest in to define and pursue their own climate strategies. As part of our long term view, we’ve stopped financing coal- based business models. They won’t feature at all in our investments and insurance activities by 2040 or sooner. 02 While all regions of the world are affected by climate change, some are hit harder than others. We care for the climate vulnerable and aim to close the protection gap in emerging countries. Many people still do not have insurance at all. We want to close this protection gap. This includes insuring farmers and supporting governments to protect more people from the impacts of climate change. We’re collaborating to provide access to climate risk insurance for up to 500 million people in the most vulnerable developing countries by 2025. 03 We enable a low-carbon future by targeting sustainable investments. As well as reducing our own emissions and using renewable energy, we develop sustainable products and services and lead the industry in insuring renewables and energy efficiency. We target investment towards renewable energy schemes, green buildings and bonds that support environmental projects. We are working with others to tackle climate change in three key ways: Find out more about our sustainability approach and commitments.  Allianz Sustainability Fact Book Allianz Sustainability Fact Book