Suncorp New Zealand is a member of the Climate Leaders Coalition and has committed to reporting and reducing its greenhouse gas emissions to targets in line with New Zealand’s proposed Zero Carbon Bill.
The Climate Leaders Coalition recently celebrated its first anniversary, following its launch in July 2018. It aims to promote business leadership and collective action on the issue of climate change and has had 109 Chief Executives so far committing their organisations to take voluntary action on climate change.
The insurer reported its emissions for the first time in 2018 and has announced it will be reporting its reduction progress in the inaugural Suncorp Responsible Business Report in August.
“Being part of the Climate Leaders Coalition represents our desire to create a positive future for New Zealanders, and we’re proud that our emissions so far are on track to meet our proposed targets,” said Suncorp New Zealand CEO, Paul Smeaton.
“Today marks the first anniversary of the Climate Leaders Coalition, and we’re celebrating by reflecting on the work we’ve done so far to help New Zealand tackle climate change and transition to a low emissions economy.”
Over the past 12 months, Suncorp New Zealand has taken the following steps to meet emissions targets:
Reducing its environmental footprint
- Reduced electricity emissions by consolidating its real estate footprint
- Reduced its travel emissions through a focus on flexible working and technology such as Skype for Business
- Reduced its transport emissions by optimising its vehicle fleet and fuel consumption
- Saved on paper usage through the digitisation of customer documentation
Investing responsibly
- Meeting its Responsible Investment Policy guidelines to ensure that it addresses environmental risks and opportunities of its investments
- Investing more in impact investments such as renewable energy infrastructure, climate change adaption and mitigation innovations
- The insurer stated that under this Policy, it does not directly invest in new thermal coal mining extraction projects, or new thermal coal electricity generation
Working with those who share its commitments
- Working with suppliers on sustainable initiatives
- Developing a Supplier Code of Practice to outline and support its suppliers to meet the insurer’s expectations for sustainable, responsible, fair and ethical business practices
“We are committed to doing the right thing by our customers, communities and people, and that includes conducting business in a way that protects and sustains our environment for current and future generations,” said Smeaton.
“We’re proud to be part of the Climate Leaders Coalition and to reflect on the work that this group of businesses has done in the past year to build a more resilient New Zealand.”