To create sustainable value, Suncorp adapts to evolving market conditions. We take a long-term view and actively respond to changes in the economy, society and the environment. We manage our impacts to ensure the sustainable growth of both our business and the communities in which we operate.
#Targets
51%
absolute reduction in Scope 1 and Scope 2 GHG emissions by 2030*
Net-zero
Scope 1 and Scope 2 GHG emissions by 2050
95%
of invoices paid within 30 days*
5%
of total shareholders' funds in social and low carbon impact investments*
#Performance Against Targets*
7.2% absolute reduction in Scope 1 and Scope 2 greenhouse gas
emissions
98% invoices paid within 30 days
6.7% funds invested in social and low carbon impact investments
#Performance Highlights
Developed a Renewable Energy Strategy and joined RE100
Integrated the UNEP FI Principles for Sustainable Insurance
Published our Proxy Voting Principles and published our Proxy Voting Summary
Committed to purchasing 100 per cent renewable electricity by 2025
14.4%
cumulative reduction in Scope 1 and Scope 2 GHG emissions*
$238m
in social and low carbon investments
45,749
customer policies received premium reduction from Cyclone Resilience Benefit
#Future Activity
Implement Renewable Energy Strategy
Implement our refreshed Environmental Performance Plan
Continue climate change scenario analysis
Publish a Modern Slavery Statement that addresses modern slavery risk in our operations and supply chain
Conduct portfolio ESG risk assessments
*51% absolute reduction in Scope 1 & Scope 2 GHG emissions by 2030/ Cumulative reduction in Scope 1 and Scope 2 GHG emissions: 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
*95% of invoices paid within 30 days: From receipt of a valid invoice. Excludes Suncorp Insurance Ventures. Excludes New Zealand and suppliers with payment terms beyond 30 days.
*5% of total shareholders' funds in social and low carbon impact investments: Based on Global Investor Coalition definition
*Performance against targets: Full circle indicates performance met or exceeded target and half circle indicates performance below target.