Business Wire

Oliver Bäte, Allianz CEO, Addresses United Nations Climate Ambition Summit

Share

Yesterday, leaders from 34 governments along with seven non-government bodies, including Californian governor Gavin Newsom, London mayor Sadiq Khan, the World Bank president, the Chief Executive of insurer Allianz, and the head of the UN’s Green Climate Fund, addressed the summit.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230921957666/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Oliver Baete, Allianz CEO, speaking at the UN Climate Ambitions Summit on September 20, 2023. (Photo: Business Wire)

Allianz CEO Oliver Bäte was representing the UN-Convened Net-Zero Asset Owner Alliance (NZAOA) and Allianz's commitment as a "first mover and doer" in the global effort to combat the climate crisis.

The transcript of Oliver Bäte’s speech follows.

Dear excellencies, ladies and gentlemen,

Since we last came together to announce the launch of the UN-Convened Net Zero Asset Owner Alliance in 2019 in this building, the world has changed profoundly. We have not talked about that today. The long era of robust economic growth, low inflation, and geopolitical stability is over, and it’s replace by uncertainty, volatility, and war. So, suddenly, fighting climate change has become an ever greater challenge.

But remember, transforming our economy is actually a huge opportunity, as we just heard. The cost of not transforming dwarfs the investments needed for the transformation. Not working on the transformation or slowing it down is foolish and ever more irrational.

To overcome polarization and conflict and to build a united and decarbonized society, we need to reach out to each other and build more collaboration and not less. We will show here today that it is doable.

Policymakers are essential; many are in the room. We need to focus on pragmatic, market-based solutions that reflect scientific and economic realities, rather than imposing dogmatic and rigid policies that undermine confidence in leadership. For example, we welcome positive signals, as of yesterday, for the Principles for Net-Zero Financing & Investment as released by the U.S. Treasury.

Our belief in the power of collaboration, that led us to launch the UN-Convened Net Zero Asset Owner Alliance here in this building, is essential.

Since its formation, as we just heard, we have grown to 86 members, including insurance companies, pension funds, foundations and endowments from all around the world, committed to moving our investment portfolios to net zero by 2050.

Now, the problem is that 2050 is a long way off, and almost all of us in this room today who are responsible will not be in power by then. That is why we are asking our members to publish science-based intermediate targets within one year of joining: To keep the accountability with today's decision-makers in the room. And I am proud that the vast majority of the members have already set credible intermediate targets for 2025 or 2030, and not just 2050.

We must all take a firm stand and lead by example: This is what we at Allianz have been trying to publish our transition plan in a way that is fully transparent with the UN-backed 1.5 degree-aligned credibility criteria:

  • Our action plan outlines how we will reduce emissions in our investment and underwriting portfolios, as well as in our own operations, and no by 2050 but much earlier. Our primary tool is not selling and buying engaging with customers and partners to work together with them on their own transition plans.
  • Second, our commitment is to grow the revenues in commercial and other insurance from renewable energies and low-carbon technologies by 2030 by a 150%.
  • And we want to make sure we expand our investments in renewable energies by investing another EUR20 billion in climate and cleantech solutions in line with the EU’s Sustainability Regulation.

But make no mistake, our journey to net zero will be very challenging, and the transformation is so fundamental that we now must phase out coal. Now. And we need to strongly reduce oil and gas, as defined by the International Energy Agency.

So, we invite all asset owners that have not yet joined to join us, we invite civil society to support us please, and we ask all governments present to work with us. In fact, we need from our political leaders more courage and less fear. We will need more pragmatism, and less regulation and bureaucracy. We need more celebration of successes and progress and less demonization of markets. Because, let’s remember, with all the political power, we need everybody to win this war.

Thank you.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Christiane Hach
Email: christiane.hach@allianz.de
Tel: +49 89 3800 7679

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Technology Holdings advises ServiceNow Elite Partner Unifii on its strategic sale to Bain Capital backed Inetum6.12.2023 19:55:00 CET | Press release

Technology Holdings, a global investment bank with offices in North America, Europe and the Asia-Pacific is pleased to announce that it has acted as the exclusive financial advisor to London headquartered Elite ServiceNow partner, Unifii on its strategic sale to Bain Capital backed Inetum, which is headquartered in France. Unifii is the largest independent Elite ServiceNow partner in the United Kingdom and Ireland, and is recognized for its unparalleled expertise in supporting clients through their digital transformation journeys. Unifii enables its clients to achieve successful business outcomes through optimized business workflows. Unifii has a recognized customer ecosystem in multiple sectors, including finance, technology, and the public sector. Its team of certified experts and experienced consultants brings undeniable value to its clients’ national and international projects. With the acquisition of Unifii, Inetum becomes a leading European partner for ServiceNow with nearly 500

Edgio’s Group Vice President of EMEA, Emma Whitmore, to Join the Digital TV Group (DTG) Council6.12.2023 17:00:00 CET | Press release

Edgio, Inc. (Nasdaq: EGIO), the platform of choice for speed, security, and simplicity at the edge, today announced that Emma Whitmore, Group Vice President (GVP) of EMEA, is joining the DTG Council, an important industry steering group, to provide Edgio’s unique perspective and insight on the future of TV distribution. For over 25 years, DTG, the UK's unique, self-funding centre for innovation in digital media technology, has been central to driving digital TV innovation in the UK. The 25-strong member council brings together the best thinkers from across broadcasters, technology providers and manufacturers, including BT, BBC, ITV and Sony, to inform the work, policy and direction of the organisation. Powered by a secure global edge network designed for the unique demands of media, Edgio’s solutions allow companies to operate, monetize and securely deliver video content to millions of global viewers. “Given the wealth of knowledge that Emma brings from more than twenty years in the in

Mavenir CEO Welcomes Recognition of Open RAN Vendor Leadership in ABI Research Ranking6.12.2023 16:19:00 CET | Press release

Pardeep Kohli, CEO of Mavenir, the Network Software Provider building the future of networks with cloud-native solutions that run on any cloud, has today welcomed the new ranking by global technology intelligence company ABI Research that recognizes Mavenir as the leading vendor in Open Radio Access Network (Open RAN) solutions. In ABI Research’s detailed and independent Competitive Assessment vendor matrix, Mavenir tops all three ranking categories – market leadership, innovation and implementation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231206233989/en/ ABI Research Open RAN Vendor Ranking November 2023 (Graphic: Business Wire) Mavenir is classed as the leading innovator in the Open RAN space with an impressive score of 81.5 out of 100, while its achievement of 84.5 out of 100 in the implementation criteria reflects Mavenir’s central role in accelerating Open RAN deployments globally. These key rankings position Ma

Snow Software Announces Winners of the 2023 Partner of the Year Awards6.12.2023 15:00:00 CET | Press release

Snow Software, the global leader in technology intelligence, today announced the winners of the 2023 Partner of the Year Awards. With the launch of the new Snow Partner Program earlier this year, the awards seek to recognize top-performing partners for their work and contributions during a year of change. “It has been an exciting year for partners at Snow, and we wanted to take this opportunity to celebrate our partners and their incredible achievements,” said Vinod Chumber, Vice President, Ecosystem Sales at Snow. “Soaring vendor and cloud prices, ongoing economic uncertainty and the need for investment in new technologies such as artificial intelligence mean that managing technology spend is more critical than ever. The impactful work being done by our partners to deliver Technology Intelligence provides so many opportunities for Snow customers to reduce spend, gain visibility into complex IT environments and prepare for cybersecurity risks.” This year’s Partner of the Year Awards ca

GWI Appoints New Chief Technology Officer, Nick Dearden6.12.2023 15:00:00 CET | Press release

GWI, the global consumer research platform, today announced that it has appointed Nick Dearden as Chief Technology Officer, based in its UK headquarters in London. Nick has over 25 years of experience in technology, with his grassroots as a developer. At GWI he will lead the engineering, IT, and security teams and will be responsible for the company's technology and data management strategy. His role is key to driving forward the company’s agenda to build technology that gives people clarity over their audience in the moment they need it. Nick’s role will focus on the ongoing innovation, scaling, and automation of processes that underpin access to data representative of nearly 3 billion people across 50+ markets. With simplification and ease of access to GWI data a key strategic driver, Nick will be responsible for identifying appropriate technology, such as AI, to define the technology strategy to achieve this. This will enable the company to automate and unlock powerful new features

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom