Our commitments

We have continued to enhance our governance and approach to shared value and sustainability by developing commitments and targets that are aligned to our shared value 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
SAFER

Our Objective

Make your world a safer place

 Our Commitment

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

Status: Achieved 

Measure

Number of lost-time injuries per one million hours worked

Progress

4%1 reduction in Australia and 49% reduction in New Zealand in the last 12 months

STRONGER

Our Objective

Realising the benefits of a diverse and inclusive workforce

Our Commitment

Increase the number of women in senior management to 40% in Australia and New Zealand and 30% in Asia by 2020

Status: In progress

Measure

% of women in senior management

Progress

33.8% women in senior management roles across the group (up from 32% in FY16).

  • Australia- 34.7%
  • New Zealand- 37.8%
  • Asia-22.9%
 

Our Commitment

Increase Aboriginal & Torres Strait Islander employment to represent 1.5% (approx. 130 employees) of the Australian workforce by November 2018.

Status: Some progress

Measure

Number of Aboriginal & Torres Strait Islander employees

Progress

Current focus on measurement and understanding our baseline for the diversity of our workforce, which includes number of Indigenous employees

Established strategic partnership with an Indigenous recruitment supplier

Our Objective

Continuous improvement in environmental performance

Our Commitment

10% reduction in CO2e by 2020 (2015 baseline)2

Status: Achieved

 

Maintain carbon neutrality commitment

Status: Achieved

 

 

Measure

Tonnes CO2e

 

Carbon neutral status

Progress

28% reduction in Scope 1 and 22 CO2e since 2015

 

Retired carbon offsets to achieve group carbon neutrality

Our Objective

Demonstrating leadership through our sphere of influence

Our Commitment

Develop and implement an IAG Procurement Policy and Supplier
Management Framework

Status: In progress



Work with our supply chain and partners to minimise environmental impacts and enhance social outcomes/resilience

Status: In progress

Measure

Active and effective IAG Procurement Policy and Supplier Management Framework

Progress

Implemented Group Procurement Policy which includes purchasing principle related to social and environmental sustainability

Supplier Management Framework developed & being piloted

38% (11/29) exclusive repairers accredited to EcoSmash platinum (40% (8/20) in FY16)

 

Our Commitment

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

Status: Achieved

Measure

Number of Aboriginal & Torres Strait Islander suppliers

Progress

12 Aboriginal & Torres Strait Islander suppliers have been engaged (7 Tier 1 and 5 Tier 2), ranging from one off purchases (events) to continual relationships

MORE CONFIDENT

Our Objective

Enhance resilience and social inclusion through our products, services and solutions

Our Commitment

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

Status: In progress

Measure

Number of products, services or innovative solutions launched

Progress

Continued the Consumer Advisory Board with the goal of improving customer service and consumer protection

Continue to target younger customers through AMI Young Drivers Insurance and AMI Renters’ insurance

Launched Poncho insurance, a Motor and Contents combined product where customers can build their own policy based on their needs

Safer Journeys app trialled with employees and customers in Australia

DipStik flood monitoring technology trialled in 18 locations in Australia

Travel insurance policies for NRMA, SGIO and SGIC reviewed to ensure that mental health has been removed from general exclusions

1. Data presented to reflect the LTIFR as recorded at 30 June 2017 and each year we adjust LTIFR data to reflect LTI’s substantiated post the original report date.  The Australian LTIFR increased from 1.73 to 1.92 for the period 1 July 2015 to 30 June 2016 (FY16). Last year we stated a 29% reduction in Australia and 29% reduction in New Zealand in the 12 months to 30 June 2016. The year on year reduction in Australian LTIFR for FY16 has been adjusted to a 21% reduction.
2. Scope 1 and Scope 2 tonnes CO2e from electricity, vehicle fuel from tool of trade vehicles and building refrigerants.

Our Social and Environmental Policy

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 (323.38 KB) 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.

IAG’s public policy position on climate change

IAG recognises that greenhouse gases from human activity are influencing global temperature and the global climate system. Changes in the climate system are already in some cases increasing severity and frequency of extreme weather events and these changes are projected to become more severe as the climate continues to warm. We support the 2015 Paris Agreement to limit global average temperature rise to below 2°C above pre-industrial levels and support the development of well-designed policies that enable the delivery of this Agreement.  

IAG has long assisted policyholders to recover from natural disaster, and will continue to work constructively with government, industry, non-profit groups and local communities to increase resilience and address the risks posed by the changing climate. We have maintained our commitment to Group Carbon Neutrality since 2012, and will continue our commitment to resource use efficiency and reducing the emissions from our operations, where possible.  IAG will also continue to incorporate environmental, social and governance (ESG) considerations into IAG’s Investment Policy and approach. Read Public policy position on climate change (26.93 KB).

IAG has a history of managing impacts and opportunities of climate change and weather-related risk. Weather and climate are “core business” for the general insurance industry, which underwrites weather-related catastrophes by calculating, pricing and spreading the risk and then meeting claims when they arise. IAG has been working with government, business and the community on a number of fronts to share our knowledge of risk, advocate for greater investment in preparedness and mitigation, and support our customers and the community before, during and after events occur.

 

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Last updated
18/09/2017