Talanx signs up to UN Principles for Responsible Investment and operates zero carbon footprint

The Talanx Group, parent company of HDI Global and Hannover Re, has signed up to the United Nations-supported Principles for Responsible Investment (PRI) and aligned itself with what it describes as a “framework for sustainable investment”. At the same time, Talanx has decided to operate with a net-zero carbon footprint in Germany from this year onwards. "As an insurer we have always taken a long-term perspective. We are keenly aware of our responsibility and we have now defined very clearly our areas of emphasis in relation to sustainability. In so doing, we support the Paris Agreement on climate change – a worldwide action plan intended to keep the increase in the global average temperature to well below 2°C above pre-industrial levels," said Torsten Leue, CEO of Talanx. The company said its move to sign up to the UN’s PRI is one element of a “refined sustainability strategy” that also explicitly incorporates insights from its most recent stakeholder survey and complements its existing investment goals. Since 2017, the group has subjected virtually 90% of its assets under management to environmental, social and governance screening for non-sustainable investments. "Integrating sustainability into investment decisions is also vitally important for the stability and performance of the investment itself. We are absolutely delighted that by signing up to the PRI, such a heavyweight market player as the Talanx Group is underscoring its contribution to sustainable development through appropriate investing," said Dustin Neuneyer, head of Germany and Austria, PRI. "Asset owners are the first link in the investment chain and send out corresponding signals through asset management to companies and industry," added Mr Neuneyer. Talanx also said the group will operate on a carbon-neutral basis in Germany for the first time this year. “Avoiding, reducing and offsetting carbon dioxide emissions – that is the three-pronged approach to which the group has committed itself. Talanx will make offset payments towards climate-friendly projects to achieve a net-zero carbon footprint for the organisation's own operations. The total amount for 2019 is a six-digit figure. The goal is to significantly reduce CO2emissions over the medium and long term,” it explained. “A further component is the consideration of sustainability criteria in underwriting activities – i.e. in the insurance business. In this respect, Talanx is aiming to become one of the leading insurers of renewable energy sources going forward. In April 2019, Talanx had already defined an underwriting policy for coal-related risks and announced its intention to withdraw from providing insurance protection for coal-based risks by the year 2038. As a general principle, Talanx is no longer prepared to cover any new coal-based risks, with exceptions only being made in limited cases in countries where coal still accounts for a large share of the energy mix,” added the group. Talanx Group manages some €123bn in customer assets through its asset manager Ampega. The group said the asset manager will increasingly focus on green bonds and infrastructure investments. Talanx has already invested more than €2.2bn in infrastructure projects and renewable energy sources, including more than €1.3bn directly in renewables. "Our strategic objective is to double these sustainable investments in the coming years to €5bn," said Immo Querner, CFO at Talanx.

Talanx signs up to UN Principles for Responsible Investment and operates zero carbon footprint

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