CEO Mike Hawker announced at the Insurance Australia Group Limited’s annual general meeting that IAG intends to make its global operations “carbon neutral within five years.”
“As an insurance company we have been very concerned about the risks and impact of climate change on our community for a number of years,” Hawker noted. “We have been working on ways to reduce our own CO2 emission footprint, alerting the community about the risks of climate change, and researching opportunities for our customers to benefit from CO2 reducing activities.
“Today we are furthering our efforts, by announcing our intention to be carbon neutral within the next five years.” He stressed that climate change was one of the most significant risks currently facing the community, with the increase in catastrophic weather related incidents representing a financial risk to customers.
“Our commitment to action on climate change is about ensuring the long-term sustainability of our company and the communities in which we operate,” he continued.
IAG further stated: “In the past 12 months IAG has reduced carbon emissions by 6 percent across its Australian and New Zealand operations. Two major projects completed this year focused on energy intensive office features – the opening of a new 5 star rated, energy efficient building in Adelaide and a major upgrade of the lighting system in IAG’s Sydney head office.
“The new lighting system alone is estimated to cut IAG’s greenhouse gas emissions by 882 tons, the equivalent of taking 196 cars off the road. It will also save the Group around $100,000 on energy bills and maintenance costs every year.”
IAG also indicated that its “carbon neutral announcement coincided with the release of the Group’s third annual Sustainability Report, titled, ‘A single person can make a world of difference’.” The report highlights IAG’s performance against social and environmental indicators such as workforce diversity, community engagement and energy consumption.
To obtain a copy of IAG’s 2006 Sustainability Report go to: www.iag.com.au and click on the ‘Sustainability’ link.