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 Measure Our commitment Progress
SAFER

Our Objective

Live it, lead it, shape it, share it towards zero harm – to be fit for the future

Measure

Number of lost-time injuries per one million hours worked

Our Commitment

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

Progress

29% reduction in Australia and 29% reduction in New Zealand in the last 12 months

STRONGER

Our Objective

Realising the benefits of a diverse and inclusive workforce

Measure

% of women in senior management

Our Commitment

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

Progress

Pay equity review completed

New women in senior management targets endorsed

Inclusive Leadership program cascaded across the business

Commenced Work Flex pilot in a number of divisions

 

Measure

Number of Aboriginal & Torres Strait Islander employees

Our Commitment

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

Progress

Transitioning our CareerTrackers university interns into permanent roles

Contracted recruitment agencies will source and attract Indigenous candidates

Our Objective

Continuous improvement in environmental performance

Measure

Carbon neutral status

Tonnes CO2e

Our Commitment

Maintain carbon neutrality commitment

10% reduction in CO2e by 2020 (2015 baseline)

Progress

Purchased and retired carbon offsets to offset Group carbon footprint

Continued our work on energy efficiency and developed a Group carbon reduction target

Our Objective

Demonstrating leadership through our sphere of influence

Measure

Active and effective IAG Procurement Policy and Supplier Management Framework

Our Commitment

Develop and implement an IAG Procurement Policy and Supplier
Management Framework

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

Progress

Verbally briefed Corporate Partnering Forum on plan for Procurement Policy and Supplier Management Framework

40% of exclusive repairers accredited to EcoSmash platinum

 

Measure

Number of Aboriginal & Torres Strait Islander suppliers

Our Commitment

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

Progress

Eight Aboriginal & Torres Strait Islander suppliers currently engaged

Indigenous Supplier Diversity Strategy Working Group established and strategy drafted

Tender templates updated to identify Aboriginal & Torres Strait Islander respondents

MORE CONFIDENT

Our Objective

Affordable & transparent protection for all

Measure

Number of products, services or innovative solutions launched

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

Progress

Microinsurance products (annual premiums less than $5) offered in India, Vietnam and Thailand

Extended microinsurance offering in Vietnam, partnering with VP Bank to introduce microinsurance

Premium discount of up to 10% available for NRMA Insurance customers who have a fuel efficient car

Our Environmental Commitment

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 Environmental commitment (281.77 KB) creates a framework for understanding and managing our direct and indirect 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
16/12/2016