Sustainability Report 2021 04.6 Targets and metrics 01 Introduction 04.6.2 Climate-related metrics Methodology and Scope Absolute portfolio carbon footprint: We use a variety of indicators across different lines The portfolio carbon footprint for listed equity and 02 Measuring and of business to monitor, assess and steer climate- managing sustainability related aspects of the economy. A detailed list corporate bonds is calculated based on the following of sustainability-related KPIs can be found in measures for Scopes 1 and 2 emissions in line with 03 Strengthening section 05. the GHG Protocol. The required data is sourced from our foundation MSCI and Refinitiv. 04 Climate-related Investment portfolio composition Variables Relative portfolio carbon financial disclosure On the investment side, it is helpful to contextualize, footprint (i.e. portfolio carbon I Allianz’s investment in issuer i in Euro 04.1 Highlights for instance, our commitment to the AOA with i footprint per Euro invested): 04.2 Governance mainstream financial information like the spread Q Allianz’s total portfolio market value in Euro 04.3 Strategy across different asset classes, jurisdictions V Enterprise value incl. cash of issuer i in Euro and sectors. i 04.4 Strategy resilience, stress-tests and Y Sales/revenues of issuer i in Euro climate scenario analysis More information can be found in the 2021 i 04.5 Risk and opportunity management Annual Report financial supplement and the mi GHG emissions of issuer i in t CO₂e Weighted average carbon intensity 04.6 Targets and metrics corresponding analyst presentation here Absolute portfolio carbon footprint of Allianz’s (i.e. portfolio weighted average 05 Our universal principles listed equity and corporate bond portfolio in t carbon intensity per revenue): F CO₂e Carbon footprint methodology a We disclose carbon footprint information of Relative portfolio carbon footprint of Allianz’s our listed equity and corporate bonds portfolio. listed equity and corporate bond portfolio in t F CO₂e per Euro invested We provide both general portfolio indicators r and emission-related indicators. We expect to Portfolio weighted average carbon intensity F per revenue enhance this disclosure in upcoming reporting w w The emission data represents the latest data we have as of March of this year. cycles in light of the expansion of asset classes i Weight of issuer i in Allianz portfolio (Ii/Q) In case of this year’s report, this means that emission data is largely comprised covered by our AOA commitment, i.e. real estate, Enterprise value including cash (V) is defined as the of data from FY 2020, as FY 2021 data will only be made available by infrastructure and sovereign bonds. i investees in the first half of 2022. sum of the market capitalization of common stock at fiscal year-end, the market capitalization of preferred equity at fiscal year-end, and the book values of total debt and minorities’ interests without the deduction of cash and cash equivalents held by the enterprise. Due to regulatory requirements, we changed the calculation approach for our portfolio carbon footprint as of 2021. The new methodology is described above and 2019 and 2020 figures have been restated accordingly. 86