British Insurance Awards 2019: Business Sustainability/CSR Initiative of the Year - Allianz Insurance

Winner: Allianz Insurance

With so many worthwhile initiatives taking place, judges were put in a difficult position to agree on the shortlist for the Business Sustainability/CSR Initiative of the Year award, yet Allianz Insurance stood out as a clear winner for its corporate climate change strategy.

Managing risks arising from climate change and promoting low-carbon economy aren’t usually associated with general insurance, however Allianz has committed to sourcing 100% of its electricity from renewable sources and pledged to stop selling policies to coal companies.

The insurer also introduced renewable energy products into its engineering, construction and power portfolio, with new insurance solutions for physical climate impacts and low-carbon business models. Allianz’s winning strategy included a new proposition covering construction and operation of renewable technologies, a suite of 165 products/services for the renewable energy market and measures in local operations to reduce emissions and waste.

One judge commented: “A major initiative with big ambitions, big targets and significant achievements,” and indeed, it is evident that Allianz’s investments in renewable energy assets such as wind and solar farms have helped it stand out as an exceptional organisation at the forefront of adopting change to save our planet.

We’re delighted to win the Business Sustainability and CSR award for Allianz’s end-to-end insurance and inspection propositions for the renewable energy industry. Providing propositions for both the build phase and in full operation, we are supporting this critical industry and delivering against the UK’s environmental ambitions and the Allianz group’s climate goals.

Chris Little, director of engineering, construction and power, Allianz Insurance