German insurer Allianz on Thursday outlined intermediate targets to reduce emissions as part of a plan that aims for net zero in 2050 in its proprietary investment and P&C underwriting portfolios and by 2030 within its own operations.
The intermediate targets apply to the company’s Property & Casualty (P&C) insurance portfolios, which now aim for targeted carbon emission reduction of 30% for the retail motor segment, and greenhouse gas (GHG) emission intensity reduction of 45% in the commercial insurance segment, by 2030.
“We believe our intermediate targets will help us realize our growth potential and contribute to a healthier, more secure future for everyone,” said Allianz CEO Oliver Baete.
