Sustainability Report 2021 03.3 Regulatory and public affairs 01 Introduction As a financial services company, To keep abreast with regulatory changes, Engagement topics in 2021 we operate in a highly regulated we maintain a robust fact base around potential Our engagement with regulators and 02 Measuring and environment. This requires us to stay policy actions and assess the likely outcomes. policymakers included the following managing sustainability current with changes in the regulatory GRPA advises management to ensure the impact topics in 2021: of regulatory and political developments is • Sustainable finance regulation: 03 Strengthening and political landscape, but also to accounted for in the Group’s strategy and business our foundation help shape effective regulation by activities. It also supports local Allianz companies environmental and social taxonomy; 03.1 Corporate citizenship contributing through our knowledge with regard to regulatory and political strategy international sustainability reporting standards; 03.2 Cybersecurity (e.g. the interpretation and handling of upcoming sustainability disclosure and digitalization of and expertise. EU regulations or by sharing best practices) and sustainability data. 03.3 Regulatory and public affairs oversees and coordinates regulatory and political 03.4 Compliance Group Regulatory and Public Affairs (GRPA) is the • Supporting public-private cooperation: 03.5 Tax transparency center of competence and central coordinator for topics within the Group. financing the green and digital transitions 03.6 Sustainable procurement all regulatory and political management activities In our engagement with regulators and and achieving the U.N. SDGs. across the Allianz Group. GRPA is based at policymakers, we adhere to the Allianz Code • Prudential regulation: Solvency II review; 04 Climate-related Allianz’s headquarters in Munich with field offices of Conduct. E.U. Recovery and Resolution directive; IFRS 17. financial disclosure in Berlin and Brussels. The department’s purpose • Digital regulation: artificial Intelligence; is to enable Allianz to navigate and help shape data access and use; cyber resilience. 05 Our universal principles the regulatory and political environment. Guiding principles of our regulatory work Embracing Shared Good input, Best results regulation effort better for all regulation We realize the benefits Good regulation Good regulation We provide industry of building our business requires shared is about delivering knowledge and real- with security, and effort by all those benefits for all world data that support acknowledge the involved in designing, stakeholders like solution finding. opportunity cost of implementing and citizens, businesses bad regulation. evaluating policy and society. within a structured and open process. 61