Insurance Australia Group

Insurance Australia Group (IAG), headquartered in Australia and operating within the insurance and pension funding services sector, has established clear climate commitments and is reporting on its carbon emissions.

For the reporting year 2024, IAG reported Scope 1 emissions of approximately 26,705,000 kg CO2e, Scope 2 emissions of approximately 5,000,000 kg CO2e, and Scope 3 emissions of approximately 15,000,000 kg CO2e. This Scope 3 total includes business travel emissions of about 10,000,000 kg CO2e and purchased goods and services emissions of approximately 5,040,000 kg CO2e.

In previous years, IAG has also disclosed its emissions data. For 2023, Scope 1 emissions were approximately 4,290,000 kg CO2e, Scope 2 emissions were around 9,244,000 kg CO2e, and Scope 3 emissions totalled approximately 8,623,000 kg CO2e. The 2022 reporting year saw Scope 1 emissions at approximately 4,869,000 kg CO2e, Scope 2 at about 10,902,000 kg CO2e, and Scope 3 at approximately 24,640,000 kg CO2e. For 2021, Scope 1 emissions were about 5,601,000 kg CO2e, Scope 2 were approximately 12,458,000 kg CO2e, and Scope 3 stood at roughly 22,611,000 kg CO2e. Earlier data for 2020 indicated Scope 1 at about 6,751,000 kg CO2e, Scope 2 at approximately 14,562,000 kg CO2e, and Scope 3 at around 32,920,000 kg CO2e.

IAG has publicly committed to achieving net zero emissions by 2050. As a significant interim step, the company aims for a 50% emissions reduction by 2030. These targets encompass all scopes of emissions.