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Allianz recognised for responsible business practices

  • by The Quotesonline Team

The global Allianz Group has satisfied the requirements as a constituent of FTSE4Good for the tenth time in a row. Allianz stock has been included in both the European 50 and Global 100 indices since 2001 which places  Allianz among the longest-standing FTSE4Good companies.

The FTSE Group launched the FTSE4Good index series in 2001 to measure the performance of companies that meet globally-recognised corporate responsibility standards. The aim of its co-founders, the Financial Times and the London Stock Exchange, is to facilitate investment in companies with responsible business practices.

“In answering questions for the Index, Allianz is providing transparency on environmental, social and governance performance factors which many investors and customers are looking for,” explains, Allianz Australia’s Managing Director Terry Towell.

Companies included the FTSE4Good Index must meet stringent social and environmental criteria. These are based on five areas: working towards environmental sustainability, developing positive relationships with stakeholders, upholding and supporting universal human rights, ensuring good supply chain labour standards, and countering bribery. Each year, companies are asked to answer detailed questions about their performance in these areas.

However inclusion in the Index is never a given, Mr Towell warns. “Losing FTSE4Good endorsement is quite possible and has happened to some companies,” he says. In addition, Mr Towell observes, both corporate responsibility (CR) standards and the quality of disclosure required by companies have become more sophisticated over the years. “This is why our efforts at Allianz are focussed not only on ensuring compliance with high standards, but also on improving our sustainability performance wherever we can.”

A part of this effort, according to Mr Towell, also includes Allianz’s dialogue with FTSE and other rating agencies during the last few years to devise or redefine CR standards for the financial services industry as a whole.

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