Suncorp Group has brought forward its Scope one and two greenhouse gas emission (GHG) net-zero target by 20 years to 2030, as it moves ahead
with decarbonising its operations.
The insurer’s previous net zero target was set for 2050.
It says it is track to meet the insurance group’s new ambitions, having achieved both its prior FY22 and FY30 targets (22% and 51% reduction respectively) well ahead of schedule.
The emissions reductions the insurer has achieved to June 2022 equate to a 61% reduction Scope one and two emissions since its 2018 baseline
measurement.
Ongoing emissions reductions efforts have meant over the past financial year a 30% decrease in fleet fuel (diesel and petrol) emissions, 7% decrease
in electricity emissions, 57% and 34% reduction in domestic and international air travel emissions respectively. These reductions were partially offset by a 19% increase in paper emissions, related to multiple policy wording upgrades (Vero and AMP) and customer forms.
Hybrid vehicles now make up more than 42% of its total fleet and the company has more on order.
Suncorp NZ sustainability manager, Rob Siveter says “our next priority is to measure our Scope three value-chain emissions which we aim to complete by the end of FY23. This will allow us to understand and target actions towards reducing GHG across our wider sphere of influence, including our customers, investments and suppliers.
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