In 2020, Allianz consumed 588,969 MWh of energy, of which 41.4% was from renewables
The combustion of fossil fuels for energy production is the primary driver to the rising level of climate-damaging GHGs, leading to global warming1. Global warming causes several environmental issues such as increased temperatures, and wildfires2. In 2019, Germany consumed 3.65 Bn MWh of primary energy, of which fossil fuels accounted for 77.4%3. In the same year, the capita annual energy usage in Germany was 43.7 MWh3.
Allianz is one of the largest financiers of weapons worldwide, with investments worth $4,281Mn
There has been a noticeable increase in armed conflicts in the last 30 years, which has resulted in a significant number of casualties1;p4. Armed conflicts destroy societies, limit the availability of basic services, cause forced migration, and expose vulnerable communities to death and disease2. In 2018, more than 70 million (mn) people fled from war, persecution, and conflict3.
Allianz provides various types of insurance covers to about 3 9 billion people in India
In 2019, the global insurance market was valued at $5,939.5 billion and is expected to grow by ~15.7% and reach $6,840.7 billion in 20231. With an insurance gap of $27 bn, India was the second-most underinsured country globally2. Approximately 3/4 of the country's population (~988 million people) does not have any life insurance10. Even those with insurance are grossly underinsured10. For every insurance requirement worth $1.33, an average person in the country has insurance worth only $0.532.
Allianz’s involvement with L&T in India raises questions over the company’s deforestation policy
Every year, road construction and other development projects cut down around 7 billion trees15. Between 2015 and 2018, India lost 20,314 hectares of forest land17. Out of which, over 11,467 hectares were diverted in 2019 alone for road construction and other development14. Deforestation causes global warming4 and costs wildlife habitat16.
Allianz Engagement Survey showed an employee engagement rate of 72% in 2019, as against 70% in 2018
The global employee engagement rate in 2019 was 66%4;p3. 94% of employees in 2019, experienced high levels of occupational stress and 54% reported a loss of sleep due to work pressure5. 87% of employees expect their companies to support work-life balance6.