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Manila Bulletin devider Business devider Allianz PNB commits 100% RE use by 2023

Allianz PNB commits 100% RE use by 2023

Published Jan 31, 2020 12:00 am
By MYRNA M. VELASCO Insurance firm Allianz PNB Life sets out commitment for a full renewable energy use on its electricity service by year 2023, noting that such will be its next step following its carbon neutral state since 2012. Alongside its pledge for clean energy use, the company said it is “keeping a strong focus on investing in companies with sustainable business practices that deliver long-term value via its peso-hedged global sustainable equity fund.” The equity fund was given promotional boost during a Sustainability Forum wherein various stakeholders voiced out concerns and issues about climate change and the environment. In the Philippine market, Allianz PNB Life vouched of array of sustainability-anchored projects that it had already supported, including the Lucio Tan Group’s “Project Canopy,” which delves with a reforestation program for the Cordillera region. Additionally, the company had underpinned the launch pad for the e-Sakay electric jeepneys rolled out by a subsidiary of the Manila Electric Company (Meralco) of the Pangilinan group. For the peso-hedged equity fund, Allianz PNB Life noted that this will bestow holders “the opportunity to invest in global equity markets of developed countries.” As packaged, this shall prioritize investments in companies with sustainable practices; wherein its hedging component “minimizes the risk of exchange rate movements,” that in turn could enhance protection to investors. The company added that the equity fund is very much aligned with Allianz’s thrust on sustainable investing – ably incorporating environmental, social and governance (ESG) factors into the investment decisions of companies so they can be suitably equipped with managing risks while generating sustainable, long-term results. The ESG framework came about, according to Allianz PNB Life, because “traditional financial analysis has been found to be inadequate to cope with hidden risks and failed to capture opportunities.” Benjamin Yong, Allianz Global Investors Singapore regional channel sales manager, primarily fleshed out the environmental factors that go into the firm’s sustainable investing paradigm – to include covers for companies’ carbon footprint, water usage, waste management and pollution mitigation.
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