Suncorp's contribution to the Sustainable Development Goals

Suncorp's contribution to the Sustainable Development Goals


The Sustainable Development Goals are a set of 17 goals that define global sustainable development priorities and aspirations for 2030 adopted by the United Nations General Assembly

The Goals call for action to address significant economic, social and environmental challenges such as poverty, inequality, health and wellbeing and climate action.

Suncorp's responsible business activity contributes to many of the Goals and we recognise that we have the greatest impact on the below.


#5. Gender Equality


Suncorp’s Equal Employment Opportunity and Diversity Policy outlines our commitment to promoting diversity in the workplace and fostering equitable opportunities and fair treatment of all our people.

5.5

Ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision making in political, economic and public life

5.9

Adopt and strengthen sound policies and enforceable legislation for the promotion of gender equality and the empowerment of women and girls at all levels

#Our progress


Continued to drive gender equality and foster a diverse and inclusive workplace through employee programs such as Career Resiliency for high potential female leaders, and the Women Connect Employee Resource Group

Continued to actively review role pay equity throughout the year and action any issues identified through our remuneration review process

Introduced a target to reduce the gender pay gap by five percentage
points over five years

#Our 2019-20 performance


tickCircle

Women in leadership roles remained at 51% for the third consecutive year

tickCircle

Met or exceeded 2019-20 targets for Women in leadership and Women on the Board

tickCircle

Recognised by WGEA (Workplace Gender Equality Agency) as an Employer of Choice for gender equality for the seventh year running


#7. Affordable and Clean Energy


Suncorp’s Environmental Performance Plan details actions for reducing our environmental footprint, including development of a Renewable Energy Strategy.

Through our Responsible Investment Policy we seek opportunities to engage in impact investing, including green bonds, renewable energy infrastructure and climate change adaptation and mitigation innovations. 

7.2

By 2030, increase substantially the share of renewable energy in the global energy mix

7.3

By 2030, double the global rate of improvement in energy efficiency

#Our progress


Developed a Renewable Energy Strategy and joined RE100 and committed to purchasing 100 per cent renewable electricity by 2025

Launched Guidelines for Real Estate Resource Efficiency and Sustainable Events

Suncorp’s $15 million commitment to the Palisade Renewable Energy Fund became fully drawn down. Palisade completed the development of a large-scale solar energy project in Townsville and progressed the Granville progressed the Granville Harbour wind proje

#Our 2019-20 performance


tickCircle

4.6% reduction in electricity consumption

tickCircle

23.5% reduction in land transport emissions from fuel-efficient hybrid cars and telematics


#8. Decent Work and Economic Growth


Suncorp’s Supplier Code of Practice details the standards expected of suppliers in relation to human rights and workplace conditions.

This includes ensuring that no forced labour, child labour or involuntary labour is used, and complying with Australian Modern Slavery Act requirements. Suncorp’s Code of Conduct and Responsible Investment Policy also incorporate statements on respecting human rights. 

Suncorp’s Financial Inclusion Action Plan aims to improve access to suitable and affordable products and services for all Australians, and better support customers experiencing vulnerability.  

8.3

Promote development-orientated policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage growth of micro-, small- and medium-sized businesses

8.7

Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking secure the prohibition and elimination of the worst forms of child labour.

8.10

Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

#Our progress


Commenced the inclusion of modern slavery
risks and controls into existing systems and processes with initial
focus on procurement, outsourcing and investments

Engaged human rights specialists to lead modern slavery training for key teams across our business to drive awareness about the issue and legislation, and build capability in identifying, managing, mitigating and reporting risks of modern slavery

Participated in the development of the ABA’s Modern Slavery guidance for member banks

Establishing modern slavery contract clauses in all new supplier agreements, including a requirement for key suppliers to complete annual statements of exposure and risk management

Suncorp will publish a Modern Slavery Statement in 2020–21 and report on how we are identifying and addressing the risks of modern slavery in our operations and supply chain, across Australia and New Zealand

Commenced implementation of Responsible Banking & Insurance Policy to strengthen our approach to responsible financial services practices

Implemented Customers Experiencing Vulnerability Strategy, Standards and Guidelines

Continued financial inclusion and customer vulnerability training for Australian employees and extended to New Zealand teams

#Our 2019-20 performance


tickCircle

98% of new and 100% of material and strategic suppliers in Australia accepted Supplier Code of Practice

tickCircle

Continue financial inclusion and customer vulnerability training for Australian employees and extended to New Zealand teams

tickCircle

Increased the number of customers with Essentials by AAI Insurance from 3,464 to 5,389


#10. Reduced Inequalities


Suncorp’s Financial Inclusion Action Plan outlines our actions to build the financial resilience and wellbeing of our customers and the broader community.

Our Reconciliation Action Plan aims to strengthen relationships, deepen respect for our First Nations Peoples’ rich history, cultures and achievements, and promote sustainable opportunities within our sphere of influence.

10.2

By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status.

#Our progress


Piloted Financial Literacy workshops with Multicultural Australia clients to build financial resilience and economic participation for culturally diverse communities

Launched AAMI Micro Enterprise Insurance in partnership with Global Sisters

Formed two new Employee Resource Groups (ERGs). The enAble ERG supports our people with disability and accessablitlity requirements, and our ARISE ERG advocates for ethnic diversity within Suncorp. These new groups are in addition to our existing ERGs whi

Strengthened our partnership with Clontarf Foundation, hosting career exposure days and work experience opportunities to improve education and employment outcomes for young Indigenous men. Suncorp employed a Clontarf Foundation graduate into our store net

Suncorp leaders participated in immersive cultural experiences with the Clontarf Academies, deepening their understanding of the work Clontarf does to prepare students for transition from school to employment

Suncorp’s partnership with Multicultural Australia received the Minister’s Choice Award for Outstanding Engagement at the Multicultural Queensland Awards for its contributions to promoting diversity and inclusion

Suncorp New Zealand was awarded the Excellence in Workplace Diversity and Inclusion from the Australia and New Zealand Institute of Insurance and Finance

Expanded community sector partnerships to improve external referral pathways for customers experiencing vulnerability

#Our 2019-20 performance


tickCircle

Continue to build awareness and capability across our workforce through dedicated vulnerability training, with more than 11,000 employees, suppliers and distributors trained to date

tickCircle

Through Suncorp’s partnership with Multicultural Australia, more than 56 employees participated cultural awareness training, cultural immersion, career mentoring and volunteering opportunities

tickCircle

Delivered Leading Inclusively training


#11. Sustainable Cities and Communities


A key pillar of Suncorp’s Climate Change Action Plan is reducing risk and increasing community resilience through products, advocacy and collaboration with industry, government and climate stakeholders.

11.5

By 2030, substantially decrease the direct economic losses relative to global gross domestic product caused by disasters, including water-related disasters, with a focus on protecting people in vulnerable situations.

11.9

By 2020, substantially increase the number of cities and human settlements adopting and implementing integrated policies and plans towards inclusion, resource efficiency, mitigation and adaptation to climate change and resilience to disasters.

#Our progress


Continued advocacy and community engagement through our Natural Hazard Resilience Strategy

Providing discounted insurance premiums for North Queensland homeowners who make their properties more resilient to natural hazards and disasters through the Suncorp Cyclone Resilience Benefit

Completed first phase of climate change scenario analysis

#Our 2019-20 performance


tickCircle

Increased the number of policy holders receiving premium reductions from the Cyclone Resilience Benefit from 43,244 to 45,749

tickCircle

Suncorp partnered with researchers to deepen climate change and natural hazard risk insights to enable stronger risk selection and pricing


#12. Responsible Consumption and Production


Suncorp's Environmental Performance Plan provides a pathway for managing the transformation to a low-carbon and resource efficient future – a future where we will reduce emissions in our corporate operations by 51% by 2030 and significantly reduce waste to landfill.

12.2

By 2030, achieve the sustainable management and efficient use of natural resources

12.5

By 2030, substantially reduce waste generation through prevention, reduction, recycling and reuse

12.6

Encourage companies, especially large and transnational companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle

#Our progress


Reduced land transport emissions through fuel-efficient hybrid cars and telematics

Continued Sustainable Suncorp and Here for Good staff engagement programs

Worked with Qantas Future Planet to make our annual Business Leaders’ Summit carbon neutral and Simply Cups to introduce coffee cup recycling at all major commercial offices

Developing a group-wide approach to resource efficiency and measurement which minimises waste and maximises opportunities for reuse and recycling

#Our 2019-20 performance


tickCircle

Over 20% reduction in land transport emissions from fuel-efficient hybrid cars and telematics

tickCircle

Developed a Renewable Energy Strategy and joined RE100

tickCircle

Committed to purchasing 100 per cent renewable electricity by 2025


#13. Climate Action


Suncorp’s Climate Change Action Plan details actions for responding to climate-related risks and opportunities, including building resilience in our business and the community.

Our Environmental Performance Plan aims to proactively reduce the environmental footprint of our business operations, foster partnerships, engage and educate our people, and track and openly disclose our environmental performance.

13.1

Strengthen resilience and adaptive capacity to climate-related natural hazards and natural disasters

13.2

Integrate climate change measures into national policies, strategies and planning

13.3

Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning

#Our progress


Continued to implement our Climate Change Action Plan

Integrated the UNEP FI Principles for Sustainable Insurance

Continued to integrate climate change considerations into governance, risk management and strategy processes in line with the Financial Stability Board’s Task Force on Climaterelated Financial Disclosures framework (TCFD)

Strengthened our Fossil Fuels Sensitive Sector Guideline to cease underwriting, financing or directly investing in new oil and gas projects, phase out underwriting and financing oil and gas by 2025, and directly investing by 2040

Met targets to reduce Scope 1 and Scope 2 GHG emissions through carbon reduction initiatives

#Our 2019-20 performance


tickCircle

14.4% cumulative reduction in Scope 1 and Scope 2 GHG emissions*

tickCircle

Over 45,000 policy holders are receiving premium reductions from the Suncorp Cyclone Resilience Benefit

* From 2017–18 baseline for Suncorp corporate operations in Australia and New Zealand. Suncorp previously published a target to reduce emissions intensity for our industrial operations (Suncorp Insurance Ventures). As Capital S.M.A.R.T. and ACM Parts were sold on 31 October 2019 this intensity-based target for Suncorp Insurance Ventures is no longer relevant and will no longer be tracked


#17. Partnerships for the Goals


Suncorp proactively participates in public policy advocacy and industry reform, to ensure better outcomes for our stakeholders. Our Community Investment strategy drives partnerships that drive financial, social and natural hazard resilience for customers and the community.

17.12

Enhance global macroeconomic stability, including through policy co-ordination and policy coherence

17.16

Encourage and promote effective public, public-private and civil society partnerships

#Our progress


Co-developed and implemented extensive range of COVID-19 customer response and relief packages with the ABA and ICA

Further implemented Banking Code of Practice and supported the ABA Banking Reform Program

Commenced transition to the revised General Insurance Code of Practice in Australia, with the provisions relating to support for customers experiencing vulnerability and family violence already delivered

Commenced implementation of our Responsible Banking & Insurance Policy

Partnered with other regional banks to advocate for greater competition in the Australian banking sector

Established Data Ethics Principles and Data Ethics Advisory Committee

Worked with Qantas Future Planet to make our annual Business Leaders’ Summit carbon neutral and Simply Cups to introduce coffee cup recycling at all major commercial offices

#Our 2019-20 performance


tickCircle

Made 20 submissions to government inquiries, consultation processes or draft legislation in Australia and New Zealand

tickCircle

Co-developed and implemented extensive range of COVID-19 customer response and relief packages with the ABA and ICA

tickCircle

Signed the UNEP FI Principles for Responsible Banking