Insurance Australia Group

Insurance Australia Group, an Australian insurance and pension funding services provider, reported total Scope 1, 2, and 3 emissions of approximately 46.7 million kg CO2e in 2024. This includes about 26.7 million kg CO2e from Scope 1 emissions, 5 million kg CO2e from Scope 2 emissions, and 15 million kg CO2e from Scope 3 emissions. Specifically, Scope 3 business travel contributed 10 million kg CO2e and purchased goods and services contributed 5.04 million kg CO2e in 2024.

For 2023, the company reported Scope 1 emissions of approximately 4.29 million kg CO2e, Scope 2 emissions of about 9.24 million kg CO2e, and Scope 3 emissions of approximately 8.62 million kg CO2e.

Insurance Australia Group is committed to achieving net-zero emissions by 2050, with an interim target of a 50% emissions reduction by 2030 across all scopes. The company also aims for net-zero Scope 1 and 2 emissions by FY30, using a FY24 baseline, aligning with a 1.5°C global warming target. Furthermore, it has set science-based absolute emission targets for Scope 1 and 2 emissions against a FY18 baseline, aiming for a 20% reduction by 2020, 43% by 2025, 71% by 2030, and 95% by 2050.