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Allianz launches sustainable procurement charter for suppliers

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Allianz Insurance has launched a sustainable procurement charter in a bid to encourage its suppliers to develop better ESG practices.

In future, during tender assessments, Allianz will apply a minimum weighting of 10% to ESG factors as it looks to prioritise suppliers that can demonstrate sustainable and ethical practices.

The carrier will also provide support and education to suppliers that are interested in ESG.

The procurement charter is designed for suppliers that trade with Allianz in the UK and have a spending profile of more than £20,000 ($27,452).

Allianz said it has cut its waste by 89% between 2010 and 2020, while it has reduced CO2 emissions by 79%, its paper consumption by 61% and its water use by 29% during the same period.

The carrier said it will use its procurement charter to encourage suppliers to cut carbon emissions, recycle waste, use renewable energy and consider biodiversity elements for their premises.

Allianz also wants suppliers to adhere to social targets such as paying staff the national living wage and cutting pay gaps, as well as setting whistleblowing mechanisms and ensuring their own tender processes are open and transparent.

Oleh Melnyk, head of procurement and property at Allianz Insurance, said: “We need to act against climate change, and we can’t act alone. We need to involve our supplier partners.

“This charter will help develop a shared mindset with them, creating a fairer and more transparent environment. We want to be market leaders in sustainable procurement – that’s part of our ESG ambitions.”

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