Allianz PNB Life ramps up sustainability efforts

MANILA, Philippines — The insurance joint venture between Munich-based global financial services provider Allianz and Lucio Tan’s Philippine National Bank (PNB) continues to ramp up efforts to push forward global sustainability initiatives.

Alexander Grenz, president and chief executive officer of Allianz PNB Life Inc., said the company believes the business of insurance and sustainability go hand in hand.

“Sustainability is part of our DNA because we believe that securing the future goes beyond financial security. It requires addressing some of the world’s most pressing sustainability challenges, including climate change, human rights, and clean energy. This is why the Allianz Group ambition is to be a shaper of sustainability for the industry and beyond by 2025,” Grenz said.

Allianz PNB Life continues to partner with local government units, private companies, and advocacy groups to push forward its global sustainability initiative.

“In the Philippines, we tackle this best with grassroot initiatives done through public and private partnerships,” Grenz said.

He said Allianz PNB Life is ramping up on digital and paperless policies, encouraging employees to adopt greener habits, and shifting toward 100 percent renewable energy use by 2023.

The Allianz Group has topped the Dow Jones Index as the world’s most sustainable insurer since 2017 as it aims to grow its investments in renewable energy and produce net-zero carbon emissions by 2050.

As part of its Allianz Ride Safe campaign, the life insurer promotes cycling as an alternative mode of transportation among Filipinos to help reduce carbon emissions.

It kicked off its campaign in San Juan City where it provided bike bollards and the country’s first solar-powered bike pit stop last November. Last month, it also helped set up new bike racks in Manila.