The importance of sustainability within a business
The study trip started with a cultural visit to Festhalle Bayernland in Theresienwiese, the world's largest Volksfest (beer festival and traveling funfair).
During the afternoon visit to Allianz, one of the world's leading insurers and asset managers, students were welcomed by Nasir Mehrzad Balach, SHRM, CP, MIB (HR) and Katja Wurm from the global sustainability team. They discovered that Allianz is deeply committed to raising awareness among stakeholders and consistently communicates with shareholders to underscore the importance of climate change and biodiversity in their industry. With ongoing developments in the EU, notably the taxonomy, the company maintains a strong regulatory focus. Allianz is continuously innovating to integrate sustainability further into its business model while addressing both physical and transition risks
Several key points were addressed during the visit:
- The company's systemic importance
- Its initiatives to decarbonise portfolios
- Its growth ambitions
- How it supports the most sustainable and resilient clients, its efforts to strengthen due diligence and set rigorous standards
- Its alignment with Corporate Social Responsibility
- How it manages impacts, among other pertinent topics in the insurance sector.
The following day was spent in IDS GmbH that specialises in developing and manufacturing digital cameras and accessories.
Thanks to Bruno Moesch, Financial Software Developer, the students had the opportunity to explore IDS GmbH, uncovering its key figures and core operations. This included its main revenue streams such as premiums, income, claims, and running expenses, as well as its primary business lines in property/casualty, life health, and asset management.
Valentina Gregorčič, ESG Investment Data Analyst provided an overview of the ESG programme at Allianz, highlighting its alignment with the 2023 Sustainability report. Key sustainable investment sectors like infrastructure, renewables, and real estate were discussed, along with data collection and usage methods such as monitoring temperature rise and carbon footprint.
Tobias Woydich introduced ACCRiS, a climate risk solution mentioned in the sustainability report, which aids in informed investment decisions. He shared recent examples illustrating its relevance.
Dr. Elisabeth Winter, Sales and Account Manager proceeded to discuss SFDR with us, emphasising the significance of the Net Zero Asset Owner Alliance. She underscored the necessity of conducting stress tests and also highlighted the French Energy Transition Law as a guiding force for the company's primary business strategies, aside from regulatory compliance
Dr. David Beßlich, workstream lead ML & AI, presented os-climate.org, an open-source project, and discussed the use of artificial intelligence in climate data management. He highlighted the importance, profitability, and usefulness of such technology.
During their two-day study trip, students actively participated in discussions, networked with professionals, and acquired practical insights that enhanced their academic knowledge. The experience expanded their perspectives on sustainability in finance.
Accredited by the Conférence des Grandes Écoles (CGE) and recognised by the French Ministry of Higher Education, the Master of Science in Sustainable Finance offered by KEDGE Business School is designed for professionals seeking comprehensive expertise in sustainable finance.
