For several years, Allianz France has been stepping up initiatives in favor of biodiversity. In particular by ensuring that its investments do not benefit companies likely to harm the environment. Explanations.
“We have undertaken a war against nature. If we win it, we are lost”, warned the famous astrophysicist Hubert Reeves. Alas, everywhere on the planet, we are witnessing the erosion of biodiversity. And there is no doubt now that it is human activities that are responsible for it. Thus, 60% of living species would have disappeared between 1970 and 2014 *, at a rate one hundred to a thousand times greater than the rate of natural extinction. Among the reasons for this decline, some are clearly evident, such as the overexploitation of wild animal and plant species or the destruction of natural habitats. Others are more indirect, but just as worrying. For example, climate change, which alters ecosystems so quickly that a large number of species will not have time to adapt. And no need to go very far to see it. In France, beeches could completely disappear from the plains by 2050, and oaks, the most common trees in our country, would see their range reduced by a third! As for the Landes forests, they could soon be ravaged by the pine nematode, an exotic parasite introduced accidentally into Europe. Finally, let us not forget all the forms of pollution, domestic, agricultural or industrial, which everywhere threaten biodiversity.
Allianz France among the first companies to preserve biodiversity
The good news is that the world has finally realized the gravity of the situation. This is evidenced by the signing of the 2015 Paris Agreement, which aims to limit global warming to 1.5 degrees Celsius, compared to the pre-industrial level. Or, in France, the adoption of the ERC sequence, which requires any operator of a project likely to harm the environment to Avoid, Reduce or Compensate for any loss of biodiversity. But there is another reason to hope for a less bleak future for the planet and our children.
Indeed, the world of finance today shows a real desire to take concrete action to fight climate change and preserve or restore biodiversity, wherever it is threatened. Allianz France is one of the first companies to embark on this path. And concrete measures were immediately implemented. To begin with, the leading European insurer incorporated ESG criteria into all its investment considerations, as early as 1992. These criteria are used in particular by the financial community, to measure the level of companies’ commitment to the market. environment, whether it is about preventing environmental risks, protecting aquatic resources, managing waste or reducing greenhouse gas emissions. But monitoring goes far beyond simply reviewing the ESG rating. Allianz France also monitors environmental controversies that may arise from projects carried out by companies in its portfolio. For example, the creation of a water reservoir likely to hinder the free movement of animal and plant species, or the development of a wetland. In short, any project likely to harm biodiversity.
Even better, the insurer has identified 13 sensitive business sectors, which may have a negative impact on the environment. This concerns, among others, agriculture, fishing, the use of fossil fuels, but also animal welfare. To carry out these actions and comply with article 29 of the Climate Law, Allianz France is developing tools intended to better identify the impacts of its investments on biodiversity. With an objective that is as clear as it is ambitious: to identify and support the companies in the Allianz France portfolio so that they reduce their pressures on the environment, and, if necessary, to part with the assets of which all or part of the activity s proves to be harmful for biodiversity. A huge challenge, which the insurer is now taking up with other companies sharing the same values.
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Green finance, land restoration… Allianz France is stepping up initiatives in favor of biodiversity
Since 2019, Allianz France has been part of Finance for Tomorrow, a group of 80 private, public and institutional players committed to the promotion of green and sustainable finance. Together, they imagine innovative projects and advance methodologies, in particular to better take ESG criteria into account.
Another remarkable initiative, Allianz France is participating in the Land Degradation Neutrality fund created by Mirova (a subsidiary of Natixis), which finances projects intended to rehabilitate land damaged by overexploitation. The first investments were allocated to a land restoration program in Latin America through agroforestry. This agricultural practice, which consists of integrating the tree into the production environment, helps to maintain, preserve and restore biodiversity, in particular by limiting the use of chemical fertilizers and pesticides.
Finally, Allianz France is one of the first members of Finance for Biodiversity Pledge, which brings together European financial institutions keen to use finance to raise awareness and then fight against the deterioration of nature. 37 signatories representing € 4,800 billion in assets under management who also undertake to define by 2024 objectives and initiatives for the protection of biodiversity as financial institutions. All these initiatives bear witness to the commitment of the leading European insurer in the fight against climate change and the protection of biodiversity. A commitment shared and relayed by the 7,000 agents, advisers, brokers who support Allianz France’s 5.5 million customers on a daily basis.
Article produced in partnership with Allianz
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