Allianz worried about rising sea levels, Allianz investing in expensive waterfront office block, located on small island

 by Ganesh Sahathevan 

OUE Bayfront on Collyer Quay

Allianz warns, in the article published on its website: 

Evidence of climate change and its impact continues to mount, with longer and more heat waves, wildfires and hurricane seasons, as well as sea level rises, on the horizon.The frequency and diversity of legal actions addressing climate change are increasing, including those that are premised on regulatory responses to greenhouse gas emissions and others that arise out of extreme weather events, sea level rise, and other physical impacts of climate change.

On the other hand: 

Allianz Real Estate has moved forward with a deal to acquire a half-stake in one of Singapore’s flagship office properties in a bet on the long-term health of the city’s core office market.

The property investment arm of the European insurance giant announced today that it has reached an agreement to purchase 50 percent of the equity in OUE Bayfront on behalf of a fund invested by Allianz Group and Korea’s National Pension Service at a price of S$634 million ($477 million)..