Our commitments

Businesses have a responsibility to act ethically and safely and to minimise their impact on society and the environment. As a large financial institution, we can have an impact on the environment, both directly from our operations and indirectly through our value chain.

Our social and environmental policy creates a framework for understanding and managing our direct and indirect social and environmental impacts, risks and opportunities, supporting and informing our role in the community.

We have continued to enhance our governance and approach by developing commitments and targets that are aligned to our safer communities framework and will help us create Safer, Stronger and More Confident communities. We will hold ourselves accountable by monitoring our performance against these and reporting back on our progress and challenges through our Annual Review and Sustainability Report.

OUr objective Our Commitment Measure Progress

Make your world a safer place

Create safer, stronger and more confident communities through business, employee and community programs

% progress against shared value measure (SVM)

The SVM tracks community impact, employee involvement and business impact. Eight indicators feed into this measure including the perception of safety and resilience of people who interact with our programs, employee engagement with the Safer Communities work and customer advocacy scores. In financial year 2018, we recorded a baseline score of 52.9%

Status: New commitment

Reduce our lost-time injury frequency rate (LTIFR) annually

Number of lost-time injuries per one million hours worked

  • LTIFR in Australia continuously improved, reducing from 2.39 in 2017 to 2.10 by the end of the 2018 financial year (12% reduction) [1]
  • Our LTIFR target in New Zealand was 0.86 and we ended the year at 0.92. This deterioration relates to three LTI cases in 2017 and five cases in 2018

Status: Significant progress

Realising the benefits of a diverse and inclusive workforce

Increase the number of women in senior management (WISM) to 40% in Australia and 50% in New Zealand by 2020

% of women in senior management

WISM across IAG Group increased from 33.7% to 34.5% by the end of the 2018 financial year, including:

  • a constant representation in Australia of 34.6%
  • an increase in New Zealand from 37.8% to 40.4%
  • an increase in Asia from 22.9% to 28.6%

Status: 

Increase Aboriginal and Torres Strait Islander employment to represent 1.5% of the Australian workforce by November 2018

Number of Aboriginal & Torres Strait Islander employees

Aboriginal and Torres Strait Islander employees made up 0.96% of our workforce by the end of the 2018 financial year. Increasing this has been challenging due to retention and measurement systems. To continue to progress on this target we have made improvements to our governance and management systems. We will reset and publicise our targets in line with a new Reconciliation Action Plan in 2019

Status: 

Continuous improvement in environmental performance

Maintain carbon neutrality commitment

Carbon neutral status

We remain carbon neutral by purchasing offsets from projects in our markets that help us make communities safer and more resilient. Information is available on our website

Status: 

Long term emission reduction targets in line with our vision on climate change

Introduction of science-based emission targets for Scope 1 and 2 activities

We met our 2020 target for absolute reductions ahead of time so in 2018 we set new targets. We used science-based approaches to keep our emissions in line with our view to limit climate change to no more than 2°C from pre-industrial levels. Based on the models suitable for our business, our targets cover our scope 1 and 2 emissions, which in the 2018 financial year were 34,198 tonnes CO2e

Our new targets for scope 1 & 2 emissions (tonnes CO2e) are:

  • 2020: 27,441
  • 2025: 19,360
  • 2030: 9,933
  • 2050: 1,972

Status: New commitment

 

Continuous improvement in overall emissions footprint

Our overall group GHG emissions at the end of the 2018 financial year showed little change compared to the start of the year – this was a result of decreasing emissions in our buildings and fleet being offset by increasing emissions from air travel. We see this as a temporary impact as our business partnering programs develop. We will continue to develop emission reduction initiatives across all of our emissions and through interactions with suppliers, investors and customers

Status: 

Demonstrating leadership through our sphere of influence

Maintain an effective management system to manage and monitor environmental, social and governance risks in our supply chain and work with our partners to enhance social outcomes and resilience

Maintenance of effective policies, processes and tools for risk management and monitoring Positive impacts on ESG topics via supply chain

In 2018, IAG improved management system elements to execute policies and positions that were updated in 2017. This includes expanded due diligence processes and tools to manage our supplier-related risks and real-time media monitoring for adverse events related to material, high and medium risk suppliers.

In the 2019 financial year, we will continue to work to embed forward-looking management and monitoring on key social issues and potential environmental, social and governance risks in our supply chain

Status: 

Increase the number of Aboriginal and Torres Strait Islander Supply Nation suppliers used across IAG to 12 (both Tier 1 and Tier 2) (by December 2018)

Number of Aboriginal and Torres Strait Islander suppliers

We continued to implement and maintain our plan to support the growth of Indigenous enterprise through selective procurement. With our partner Supply Nation, we surpassed our target and have engaged with 18 suppliers by the end of the 2018 financial year.

We will reset and publicise our targets in line with a new Reconciliation Action Plan in the 2019 financial year.

Status: 

Affordable and transparent protection for all

Leverage customer insights, agile methods and a data-driven approach to develop and test solutions that respond to evolving customer needs and help enhance resilience and social inclusion

Number of products, services or innovative solutions launched

In 2018, we assigned accountability and ownership of access and affordability to an executive sponsor, and developed a suite of initiatives in our Customer Inclusion Program. Our work includes training our people to support customers at risk of mental illness and family violence, and exploring insurance products that best serve Indigenous Australians

Status: 

1. Data presented to reflect the LTIFR as recorded at 30 June 2018. Each year we adjust LTIFR data to reflect LTIs substantiated after the original report date. The Australian LTIFR was restated from 1.84 to 2.39 for the period 1 July 2016 to 30 June 2017. 
Key: 

 Achieved;  Significant progress;  In progress;  Some progress;  New commitment

 

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Last updated
21/08/2018