Regulation is prompting more timely reporting Securing data from companies in the value chain can come with lengthy delays, for example when waiting for landlords to report on the energy consumption of buildings based on energy invoices. However, the momentum generated by mandatory reporting against CSRD and other global reporting initiatives is providing a stimulus to clients to report – as well as pay the rent – on time. Moving from limited to reasonable assurance ensures better decision-making The journey to bring sustainability reporting up to the same level of maturity as financial reporting has taken Allianz many years. “We’ve copied mindsets, roles and responsibilities from the financial side to the sustainability side,” says Loewens, adding that the shift from limited assurance of sustainability data to the reasonable assurance required to include it in the annual report has been a “major step change” for the company. However, this higher level of assurance is not simply a reporting exercise: “We want this reliability not only for the annual report but also internally so that management can take robust decisions.” Reporting on material sustainability matters offers a sound logic for corporate reporting Mandatory sustainability reporting is not simply a tick-box exercise. Reporting requirements first ask companies to identify relevant sustainability matters and then to consider the material information relevant to your business. Under CSRD and the ISSB Standards, companies are asked to be transparent on what they are doing about these matters, whether they have a policy or means of mitigating the company’s impact in that area. Sector-specific reporting must consider concrete information needs and learnings from agnostic reporting requirements. The approach of ISSB to tackle climate reporting first allows space for companies to understand how to apply the detailed reporting requirements to that issue before going into other environmental topics. Furthermore, the ISSB encourages companies to consider sustainability matters that are closely connected with climate, and offers a broader framework for reporting on overall sustainability matters. Capital markets need reliable reporting, but the timing on this is delicate – too soon, and unreliable data may prove detrimental; too late, and the markets have nothing to go on. The bottom line is that “the market must be able to rely on what companies are reporting.” To achieve greater alignment in sector-specific reporting, the ISSB, GRI and EFRAG should collaborate and evaluate concrete information needs based on systematic analysis of reporting practice over a reasonable period of time. Advice for companies looking to improve their sustainability reporting –Prioritize data reliability: You need a very clear prioritization logic, to determine which data you can rely on, how far that data will take you and when not to stray into areas that are too dependent on estimation and judgement alone. –Ensure sound control frameworks and documentation: You need to apply the same rigour in sustainability reporting as for financial reporting. You must take it as seriously and ensure you have the right documentation. –Engage with your stakeholders: It is important not only to rely on your own judgement, but to benchmark and challenge your views on topics with external stakeholders, including NGOs, specialists and academia. –Build closer collaboration between reporting and business functions: To enable your company to manage data quality and external reporting, a minimum level of literacy in sustainability reporting is essential. Business units need to understand this is not simply a tick-box exercise but important for informed decision-making. Equally, your reporting team must understand the business realities that stand behind disclosures. Strong collaboration and close alignment between the reporting team and business functions is essential, as successful sustainability reporting is a group effort across the company. Disclaimer This document is published by the World Economic Forum as a contribution to a project, insight area or interaction. The findings, interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum, nor the entirety of its Members, Partners or other stakeholders. © 2025 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.

Allianz Case Study 2025