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 sustainable 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 Diversity and Inclusion 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


Reduced gender pay gap in FY21

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

#Our 2020-21 performance


tickCircle

Women in leadership roles exceeded FY21 target and increased from 51% to 52%

tickCircle

60% Women in total workforce


#7. Affordable and Clean Energy


Suncorp’s Environmental Performance Plan sets out our priorities for becoming a low-emissions and resource-efficient organisation.

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


Through Renewable Energy Strategy and RE100 commitment we will source 100% renewable electricity by 2025

Entered into four-year renewable energy agreement for our large Australian sites which will provide over 50% of our total electricity from renewable sources

Continued to implement our Waste Management Strategy

Continued to implement our Renewable Energy Strategy

#Our 2020-21 performance


tickCircle

99% of Suncorp New Zealand’s electricity purchased from renewable sources

tickCircle

Installed rooftop solar at eight sites


#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


Published first Modern Slavery Statement in February 2021 for FY20

Suncorp’s Code of Conduct was updated to reference modern slavery and human rights and our procurement and outsourcing policies were also updated to consider modern slavery

Delivered first-in-New Zealand training in partnership with Shine and Lifeline Aotearoa, to build the capability of customer-facing employees in responding to severe cases of vulnerability

Partnered with Good Shepherd New Zealand to pilot Drive, a low-cost comprehensive car insurance product for customers on limited incomes

#Our 2020-21 performance


tickCircle

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

tickCircle

Increased the number of customers with Essentials by AAI Insurance from 5,389 to 5,829


#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


Continue to grow our Employee Resource Groups, which provide the opportunity for employees to come together around a common purpose, interest or background

Established new partnership with Firesticks Alliance Indigenous Corporation to increase economic participation of Aboriginal and Torres Strait Islander peoples and build the natural hazard resilience of communities in bushfire-prone areas

Introduced a frequent employee feedback platform called The Loop, which allows employees to respond to factors impacting their experience and engagement

Launched second RAP, which was endorsed by Reconciliation Australia as an 'Innovate' RAP

#Our 2020-21 performance


tickCircle

Announced first phase of enhancements to our parental leave policy to strengthen the support and flexibility available to working and prospective parents

tickCircle

Provided six internships through our partnership with CareerTrackers and recruited 59 people who identify as First Nations

tickCircle

Provided summer internships to seven Maori and Pasifika students in partnership with TupuToa


#11. Sustainable Cities and Communities


Suncorp seeks to innovate and optimise economic, social and environmental outcomes throughout our business and value chain.

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 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

Conducted climate scenario analyses over the past three years, building sophistication in line with industry guidance and developments in scientific research

Launched One House initiative to design, prototype and test one of Australia’s most natural disaster-resilient homes

In response to COVID-19, transitioned to a hybrid model of working, maximising productivity while enabling flexibility in the way we work

Launching a dedicated grants program in 2021 to support Australian communities impacted by significant natural disasters in their long-term recovery and resilience building

Introduced industry-first Build it Back Better home insurance feature that offers additional recommended resilience options to help protect against severe weather

#Our 2020-21 performance


tickCircle

Became Principal Community Partner of the Queensland SES to help communities respond and recover from weather events

tickCircle

Partnered with the Foundation for Rural & Regional Renewal (FRRR) to distribute grants to community-led solutions that build resilience


#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


Continued transition to a hybrid fleet with telematics

Undertook weighted waste trials and contamination audits to improve our waste management reporting

Implemented organic and coffee cup recycling at key commercial sites and plan to identify additional sites in FY22

#Our 2020-21 performance


tickCircle

Suncorp New Zealand is purchasing 99% of its electricity from renewable sources

tickCircle

Purchased 25% and 50% GreenPower for Queensland large market and Polaris Data Centre respectively


#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

Expanded the definition of controversial weapons to include white phosphorus and depleted uranium munitions

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

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

#Our 2020-21 performance


tickCircle

On track to meet our science-based Scope 1 and Scope 2 GHG emissions targets of 51% reduction in absolute emissions by 2030*

tickCircle

$321 million in low-carbon investments as at 30 June 2021

* 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). 


#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


Suncorp participated in several roundtables with the Insurance Council of Australia and Master Builders Association on the policy changes needed to make Australian homes more resilient

Partnered with experts from James Cook University’s Cyclone Testing Station, CSIRO, and Room11 Architects to design and test one of Australia’s most natural disaster-resilient homes

#Our 2020-21 performance


tickCircle

Made 11 public submissions to government inquiries, consultation processes and draft legislation in Australia and New Zealand

tickCircle

Actively engaged with the Federal Government on the design of the Northern Australia reinsurance pool

tickCircle

Established 4 new community partnerships and continued 16 existing community partnerships