Tackling the climate crisis is one of the most urgent tasks in securing the natural life-support systems of future generations. In particular, greenhouse-gas emissions must be reduced quickly and ambitiously in all sectors and areas of life. This is the only way to achieve the goal of global climate neutrality by 2050. It requires a profound socio-ecological transformation that is supported by all sections of society. The principle of a common but differentiated responsibilities to combat the climate crisis, as laid down for nation states in 1992 in the UN Framework Convention on Climate Change, should also be implemented by organizations like the Allianz Foundation.
Beyond Net Zero Strategy: the Allianz Foundation assumes climate responsibility
The Allianz Foundation champions climate-just societies. To do justice to its own aspirations of creating a future worth living, the Allianz Foundation assumes responsibility for the climate impact of its work with its Beyond Net Zero Strategy.
December 17, 2024
© Neil Thomas
Climate strategy of the Allianz Foundation
The Allianz Foundation works in both an operational and support capacity with people and organizations that champion open, resilient and climate-just societies. In this context, the Foundation recognizes that its own activities also have an impact on the climate. In addition to the Foundation's operational activities, this also applies to its indirect climate impact, e.g. via investments of its endowment capital or the funds it donates. In order to fulfil its own aspirations, the Allianz Foundation assumes responsibility for its own climate impact with its Beyond Net Zero Strategy. The strategy is explicitly not based on the controversial practice of offsetting one's own greenhouse-gas emissions in order to label oneself as 'climate neutral' or to symbolically reach 'net zero'. Rather, the goal of 'net zero greenhouse-gas emissions' in the Foundation's strategy is a global target to which every organization must make its best possible contribution. However, this is not synonymous with achieving individual net zero or climate neutrality at the organization level, but goes beyond this. The Allianz Foundation therefore focuses not on numerical climate neutrality, but on the principle of climate responsibility. In this way, we want to make our best possible contribution to achieving global net zero as well as the sustainability goals in a transparent manner and in line with the goals of the Paris Climate Agreement and the 2030 Agenda.
Core elements of the climate responsibility strategy
We are building on existing concepts of the Climate Contribution Model and developing it further in line with our field of activity and our responsibility as a charitable foundation. In addition to accounting GHG emissions in all three scopes, as well as avoiding and reducing GHG emissions, the main core of the strategy is defining an internal CO2 price that is based on the climate-damage costs of one tonne of CO2. According to the German Federal Environment Agency, this amounted to €254 for each tonne of CO2 in 2023. We wish to use these funds to support initiatives and projects in the field of climate-change mitigation (i.e. make climate contributions) that have the greatest possible leverage effect and contribute to the global goal of net zero emissions.
“The strategy we are following requires players to take their fair share of adapted climate-protection measures. This can rapidly and ambitiously promote a profound socio-ecological change at a global level.”
Implementation and dissemination
In a two-year pilot phase, we will work with independent scientists and partner organizations to develop and test measures that enable us to robustly quantify the emissions attributable to us. In addition, we want to lay down sensible and customized criteria for our climate contributions based on the calculated climate-damage costs we have caused, so that we can finance effective transformation projects.
In addition to our own measures, we are also funding a project run by the NewClimate Institute. It aims to explore potential difficulties in implementing the Climate Contribution Model and to develop proposals on how to close existing gaps and apply the approach both to foundations and to other organizations. At the beginning of 2025, we will be joined by experts and project partners, further foundations and other interested organizations. Building on these discussions, we would like to form a Coalition for Climate Responsibility to further promote the dissemination of the model.
Your contact: Gesa Schöneberg
Do you have any questions about our climate strategy? Then please contact Gesa Schöneberg.
She heads the Climate and Environment unit within the Allianz Foundation. She supports the development and implementation of corresponding partner projects, initiatives and campaigns.
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