2017 review of climate change policies discussion paper
12 May 2017
At IAG our purpose is to “make your world a safer place”, which means we are working to create a safer, stronger and more confident tomorrow for our customers, partners, communities, shareholders and our people throughout Asia Pacific.
IAG’s in-house natural perils team enables us to consider the impacts of climate and weather patterns as part of our core business. We have a key interest in climate change and its impacts. As well as signalling risk and providing insurance, IAG has a long history of supporting Australian communities to become aware of the risks they face and to support them in building resilience. We’ve set targets to reduce our own carbon footprint and we work with the community, governments and partners such as the Australian Business Roundtable for Disaster Resilience & Safer Communities (Roundtable), the 100 Resilient Cities initiative, a range of research organisations and through our leadership positions with the United Nations Environmental Programme Finance Initiative (UNEP FI) to understand the myriad of issues related to climate change and natural disasters and to develop potential solutions.
We agree with the primary objective identified in the Paris Agreement - to limit global climate change to 1.5 degrees of global warming above pre-industrial levels. We acknowledge that more can be done in order to meet this objective and in an evolving and competitive industry, we continue to work to understand how we might fulfil our own leadership ambitions in line with our purpose.
We support this Discussion Paper on and the Government’s consultation. We welcome the opportunity to work with the Government in delivering action to enhance climate adaptation, resilience in Australia and develop a credible emissions reduction roadmap.