Allianz Group, a German multinational financial services company, is accelerating the deployment of its climate strategy and has announced new ambitious commitments in both its core business and operations. The company will limit the greenhouse gas emissions deriving from Allianz’s sites and activities in over 70 markets to net-zero by 2030, instead of 2050 as originally planned. For its proprietary Investment and Property & Casualty (P&C) businesses, as of January 1, 2023, Allianz will no longer invest in or underwrite new single-site or stand-alone oil and selected gas risks, oil and gas activities related to the Arctic and the Antarctic or extra-heavy oil and ultra-deep sea risks. By the start of 2025, Allianz will require a robust ‘net-zero by 2050’ commitment from the largest hydrocarbon producers as a pre-condition for company-level insurance coverage and investments.