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Allianz Energy Factsheets Allianz SE | Group ESG Office Allianz Climate Solutions GmbH Energy Factsheets 2015 Executive Summary The energy sector is an important driver and engine of the world economy. Due to the sector’s importance, Allianz Group is directly and indirectly involved with various aspects of the global energy system as an investor, insurer, business partner and global corporate citizen. Allianz is aware that the energy sector faces several significant risks, including environmental pollution issues, its significant contribution to climate change and its high dependency on finite fossil resources. While it remains in the foremost responsibility of energy sector companies and regulators to address these risks, Allianz acknowledges the responsibility it has as a financial services provider to work together with our clients and stakeholders to address and manage material Environmental, Social and Governance (ESG) risks and opportunities that are associated with today’s energy sector. The Allianz Energy Factsheets provide a factual overview of the key trends and associated ESG issues along the value chain of eight key energy sources (coal, natural gas, oil and oil products, nuclear energy, hydropower, wind, solar and bioenergy). This documentation is part of the overall Allianz Energy Framework and was used as the basis to inform and design Allianz’ actions in the energy sector. Chapter 1 gives an overview of the overall energy sector, explaining the different energy uses and displaying energy flows with figures for total energy production and consumption Chapters 2-9 cover the factsheets per energy source. Each chapter/factsheet provides an overview of the most important supplier and consumer countries, the key ESG topics along the value chain, the most important climate/environmental impacts of the resource associated with its extraction and consumption, important regulatory developments and an outlook on potential future developments in the resource sector, including examples of more efficient or climate-friendly solutions Information was collected from various internationally renowned sources such as for example the International Energy Agency, the US Energy Information Agency and the Intergovernmental Panel on Climate Change. Key Findings In 2012, fossil energy sources still made up 82% of the total energy supplied, with the remaining 18% coming from renewable energy sources. In the conversion, combustion, transformation and transmission of primary energy resources to final energy for consumption, 34% of the energy is lost as waste heat or due to other system inefficiencies. Electricity generation is the most important use of energy resources (38%), however due to inefficiencies in power generation only one third of that energy is actually delivered as electricity and two thirds of the energy are wasted, used in the generation process or during transmission. Coal makes up almost half of the energy resources used for electricity generation, and natural gas almost one quarter. Oil and oil products only make up 5% of the energy used for electricity generation. Heating is the second most important energy use (30%). Heating is also dominated by non-renewable energy resources: natural gas, coal and oil products are ranked first, third and fourth. It is notable that Bioenergy is the second most important providing almost one quarter of the energy for heating; this trend arises from the fact that large parts of the world continue to engage in traditional heating with woody (and other) biomass. Allianz Energy Factsheets | 1 Contents Contents Executive Summary ....................................................................................................................................... 1 Key Findings ............................................................................................................................................... 1 Contents ......................................................................................................................................................... 2 1 Energy Overview .................................................................................................................................... 5 1.1 Energy Resources and Carriers ..................................................................................................... 5 1.2 Energy Uses .................................................................................................................................... 5 1.2.1 Electricity Generation ............................................................................................................ 5 1.2.2 Heating .................................................................................................................................. 6 1.2.3 Transportation ....................................................................................................................... 7 1.2.4 Non-Energy Use of Fuel Resources ....................................................................................... 7 1.3 Key Energy Flows and Statistics .................................................................................................... 7 1.3.1 Primary Energy Production ................................................................................................... 7 1.3.2 Energy Conversion ................................................................................................................ 8 1.3.3 Energy Carriers for Final Consumption ................................................................................ 8 2 Coal ....................................................................................................................................................... 11 2.1 Supply and Demand .................................................................................................................... 11 2.2 Key Issues in the Value Chain ...................................................................................................... 11 2.2.1 Electricity Generation .......................................................................................................... 12 2.2.2 Heating ................................................................................................................................ 12 2.3 Climate Effects in a Nutshell ....................................................................................................... 14 2.4 Regulatory Instruments and Trends ........................................................................................... 14 2.5 Technological Developments ..................................................................................................... 15 2.5.1 Coal Gasification .................................................................................................................. 15 2.5.2 Coal-Bed Methane ............................................................................................................... 16 2.5.3 Underground Gasification .................................................................................................. 16 2.5.4 Carbon Capture and Storage .............................................................................................. 16 2.6 Outlook ......................................................................................................................................... 17 3 Natural Gas ........................................................................................................................................... 18 3.1 Supply and Demand .................................................................................................................... 18 3.2 Key Issues in the Value Chain ...................................................................................................... 19 3.3 Climate Effects in a Nutshell ....................................................................................................... 21 3.4 Regulatory Framework ................................................................................................................ 22 3.5 Other Current Trends .................................................................................................................. 22 3.6 Outlook ......................................................................................................................................... 23 2 | Allianz Energy Factsheets Contents 4 Oil and Oil Products ............................................................................................................................. 25 4.1 Supply and Demand .................................................................................................................... 25 4.2 Key Issues in the Value Chain ...................................................................................................... 25 4.2.1 Oil and Oil Product Use for Power Generation .................................................................. 26 4.2.2 Oil and Oil Product Use for Heating.................................................................................... 26 4.3 Climate Effects in a Nutshell ....................................................................................................... 27 4.4 Regulatory Framework ................................................................................................................ 28 4.5 Outlook ........................................................................................................................................
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