Sustainability Report 2021 GRI 102-12, 102-40, 102-42, 102-43, 102-44, 102-46, 05.3 Materiality 102-47 01 Introduction To make a positive impact on Operating entities – including PIMCO, AIM, Allianz Peer companies: We conducted a peer society, we need to understand Technology, AGCS, AllianzGI – were involved in assessment of the nine best performing 02 Measuring and providing feedback on the most material issues companies in terms of materiality analysis in the managing sustainability and respond to the changing from their expert perspectives. latest Dow Jones Sustainability Index assessment. Materiality assessment process: This helped us understand the material issues 03 Str engthening context in which we operate. defined by these insurance companies in their our foundation Our materiality assessment 1. Identification: We identified a list of sustainability reports. enables us to stay on top of sustainability topics tailored to our business Media: We used the HLG Brand Pressure 04 Climate-r elated through a desk-based review of sourcing Index and RepRisk data to identify the most financial disclosure trends and align our approach, including our own prior material topics, relevant topics for the financial sector from a peers’ materiality matrices, a media review media perspective. 05 Our universal principles reporting and strategy with using the HLG Brand Pressure Index and NGOs: We performed external stakeholder 05.1 Target and achievement tables the sustainability issues that RepRisk data and independent expert opinion interviews with NGOs and complemented it by 05.2 How we report: transparent from a specialist consultancy. using SigWatch data to identify the most relevant reporting, ratings and performance are most important to our 2. Prioritization: We engaged with stakeholders 05.3 Materiality including NGOs, employees and customers topics for NGOs. 05.4 Stakeholder engagement stakeholders and our business. through interviews, surveys and workshops to Employees: We conducted a series of semi- 05.5 Sustainability governance Our materiality assessment helps to ensure that prioritize the list of material topics. structured interviews with 36 internal leaders 05.6 Our commitment to human rights we focus on the risks, opportunities and issues that and a workshop with subject matter experts to 05.7 Our impact on the U.N. Sustainable matter most to our key stakeholders, and which 3. Analysis and validation: We aggregated gather insights on Allianz’s key business drivers, Development Goals and analyzed data, integrating the results objectives and priorities. Through our internal 05.8 Independent practitioner’s report we have the ability to influence. Our most recent into a materiality map, and presented results on a limited assurance engagement assessment was carried out in 2021 in line with the to the internal expert pool of representatives. communications, we conducted a survey of Allianz on sustainability information 2020 GRI Standard requirements. Our assessment employees worldwide to gather their perspectives approach used a variety of data sources and we This group also provided the final judgment on the most relevant topics. improved our methodology in 2021 by increasing of outcomes. Customers: We analyzed multiple reports based the number of data sources and the number of Understanding stakeholder views on customer surveys and engagements from data points within these sources. The views of stakeholders were collected during various lines of business including property and We created an internal expert pool with the identification and prioritization phases casualty, life & health, and investment. representatives from Group functions including on two aspects: the importance of topics to Sustainability rating agencies: We carried out Group Risk, Communications, Group Compliance, society (encompassing economic, societal and a review of internal documents from selected Group Legal, Group Accounting and Reporting, environmental aspects) and the importance of key ratings for Allianz to identify the most as well as Global Sustainability. This pool was topics to the Allianz business (including potential relevant issues. formed at an early stage to discuss the overall impact on our business). The data was integrated approach, preliminary results and feedback. into an independent, third-party analysis model Final results were presented and agreed to by the which weighs different inputs and maps the Group centers which had also been part of the results. The result is an overall prioritization expert pool. outcome along the two axes of importance to society and to Allianz as a business. Input was collected from the following stakeholders: 101