Sustainable Growth

Sustainable Growth


We seek to innovate and optimise economic, social and environmental outcomes throughout our business and value chain.

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*


bullet

7.2% absolute reduction in Scope 1 and Scope 2 greenhouse gas
emissions

bullet

98% invoices paid within 30 days

bullet

6.7% funds invested in social and low carbon impact investments


#Performance Highlights


innovation2

Developed a Renewable Energy Strategy and joined RE100

branches

Integrated the UNEP FI Principles for Sustainable Insurance

infoBooklet

Published our Proxy Voting Principles and published our Proxy Voting Summary

innovation1

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


innovation2

Implement Renewable Energy Strategy

cyclone

Implement our refreshed Environmental Performance Plan

tickCircle

Continue climate change scenario analysis

community

Publish a Modern Slavery Statement that addresses modern slavery risk in our operations and supply chain

track

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.