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

Conducted an in-depth gender pay equity review and provided data for leaders to consider and address any inequities through remuneration review processes

Published targets for 2020: 40% women on the Board, 45% in senior leadership, and 50% across broader leadership roles

#Our 2018-19 performance


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Women in leadership roles remained at 51% for the second year in a row

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Increased women in senior leadership roles from 44% to 47%

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Increased women on the Board from 38% to 50%

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


#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


Completed an initial risk assessment of modern slavery risk in our supply chain, based on high risk commodities, geographies and industries. Implemented an ongoing risk assessment and monitoring service with Made in a Free World

Established a cross-functional Modern Slavery Working Group to evaluate and improve our human rights risk management systems and respond to identified modern slavery risks

Updated our supplier on-boarding process to include express acceptance of the Supplier Code of Practice

Deployed customer vulnerability, resilience and wellbeing awareness and capability building training for customer-facing and back office teams in Australia

Progressed implementation of a Customers Experiencing Vulnerability Strategy and Roadmap

Established a dedicated Customers Experiencing Vulnerability team within Insurance Australia to oversee and manage the end-to-end claims process

Established specialised support teams in our banking and insurance businesses to manage the end-to-end process for customers experiencing vulnerability

Maintained our partnership with Good Shepherd Microfinance for the distribution of Essentials by AAI insurance products to low-income earners

Collaborated across sectors through the Thriving Communities Partnership, with the aim of ensuring fair access to modern essential services

#Our 2018-19 performance


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

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More than 7,000 employees completed Financial Inclusion Awareness and Vulnerable Customer Training

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Increased the number of customers with Essentials by AAI Insurance from 1,855 to 3,464


#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


Leveraged our partnership with Clontarf Foundation to support and improve education and employment outcomes for young Indigenous men by hosting them for work experience and exposure days in our stores, contact centres and offices

Formed a new Veterans, Reserves and Defence Family Employee Resource Group (ERG) in addition to our existing ERGs which include Women Connect, Millennials, Life X for mature-age workers and Amplify, our LGBTIQ+ network

Provided ongoing support to the South East Queensland Indigenous Chamber of Commerce to improve economic participation for Indigenous businesses and entrepreneurs through the delivery of the Meeanjin Markets

Supported First Nations Foundation to expand their financial capability building programs, such as the Big Super Day Out, a superannuation outreach program which helps Indigenous communities to locate, grow, and protect their superannuation

Provided training and mentoring for people of culturally and linguistically diverse backgrounds, through our partnership with Multicultural Development Australia, to increase their employability

Provided introductory online learning pack 'Working with Aboriginal and Torres Strait Islander employees' for hiring managers and all employees

Extended cultural awareness and capability building activities to employees to enhance our organisations' understanding of Aboriginal and Torres Strait Islander cultures, histories and achievements and support inclusion at Suncorp

Supported and promoted diversity and inclusion as members of the Queensland Multicultural Ambassador Program and through major support of multicultural events including Mosaic and Luminous, which celebrate diversity and inclusion in Queensland

Recruited 10 new employees through our partnership with Multicultural Development Australia (MDA)

Developed an Aboriginal and Torres Strait Islander Cultural Handbook for employees to use as a reference guide

#Our 2018-19 performance


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Over 130 leaders completed Suncorp's Inclusive Leadership online training program

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More than 2,500 employees took part in cultural activities in support of Reconciliation

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Suncorp employees received cultural capability training and provided mentoring to 22 MDA clients


#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


Progressed development of a Natural Hazard Resilience Strategy to expand product and customer solutions to reduce the risks associated with natural disasters

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

Progressing climate change scenario analysis to identify communities at risk of extreme weather now and under different climate futures

#Our 2018-19 performance


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Increased the number of policy holders receiving premium reductions from the Cyclone Resilience Benefit from 41,986 to 43,244


#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


Completed a high-level risk and opportunity assessment to understand the impacts of climate change on our business and inform future climate scenario analysis

Published 2018-19 Climate-related Financial Disclosures using the TCFD framework, detailing our progress on integrating climate change into governance, risk management and strategy processes

Developed first Responsible Banking and Insurance Policy to respond to environmental risks in our business and ensure consistent decision making across investments, lending and underwriting

Discounted insurance premiums for North Queensland homeowners who have made their properties more resilient to natural hazards and disasters, through the Suncorp Cyclone Resilience Benefit

Set and publicly disclosed science-based targets to reduce Scope 1 and Scope 2 greenhouse gas emissions by 2030 and to achieve net-zero emissions by 2050

#Our 2018-19 performance


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6% reduction in Scope 1 and Scope 2 GHG emissions

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Over 43,000 policy holders are receiving premium reductions from the Suncorp Cyclone Resilience Benefit


#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


Actively worked with industry associations and peers to develop the new Banking and General Insurance Codes of Practice in Australia, which aim to deliver better outcomes for consumers

Continued to support the ABA Banking Reform Program, to ensure Australian banks meet the expectations of customers and the community

Provided input into Australian Treasury’s consultation on recommendations from the Royal Commission on claims handling and the enforceability of Code of Practice provisions

Participated in the ACCC inquiry into insurance affordability in northern Australia

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

Launched community partnerships with Clontarf Foundation to support young Indigenous and Torres Strait Islander men, and Multicultural Development Australia, to increase the financial resilience of people from culturally diverse backgrounds

Joined the Qantas Future Planet program to reduce the environmental impact of our business operations

#Our 2018-19 performance


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Made 18 submissions to government inquiries in Australia and New Zealand

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Implemented the refreshed Banking Code of Practice

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Compliant with the Banking Executive Accountability Regime