Insurance Australia Group Sustainability Profile
Insurance Australia Group (IAG) is a leading general insurance company headquartered in Sydney, Australia. Established in 1851, IAG has grown to become a prominent player in the insurance industry, serving millions of customers across Australia and New Zealand. The company operates under well-known brands such as NRMA Insurance, CGU, and WFI, offering a diverse range of products including car, home, and business insurance. IAG is recognised for its commitment to innovation and customer service, consistently delivering tailored insurance solutions that meet the evolving needs of its clients. With a strong market position, IAG has achieved significant milestones, including being one of the largest insurers in the Asia-Pacific region. Its focus on sustainability and community engagement further distinguishes IAG in the competitive insurance landscape.
DitchCarbon Score
How does Insurance Australia Group's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Insurance Australia Group's score of 50 is higher than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Insurance Australia Group's reported carbon emissions
In 2024, Insurance Australia Group (IAG) reported total carbon emissions of approximately 42,050,000 kg CO2e, comprising 26,705,000 kg CO2e from Scope 1, 5,000,000 kg CO2e from Scope 2, and 15,000,000 kg CO2e from Scope 3 emissions. Notably, the Scope 3 emissions included significant contributions from business travel (10,000,000 kg CO2e) and purchased goods and services (5,040,000 kg CO2e). For the previous year, 2023, IAG's emissions in Australia were approximately 1,327,000 kg CO2e (Scope 1), 485,000 kg CO2e (Scope 2), and 2,138,000 kg CO2e (Scope 3). In New Zealand, the total emissions were about 26,107,000 kg CO2e, with Scope 1 at 5,617,000 kg CO2e, Scope 2 at 9,729,000 kg CO2e, and Scope 3 at 10,761,000 kg CO2e. IAG has committed to achieving net zero emissions by 2050, with an interim target of a 50% reduction in emissions by 2030. This commitment encompasses all scopes of emissions, reflecting the company's recognition of its role in addressing climate change. The emissions data is not cascaded from any parent organization, indicating that IAG's reporting is independent. The company continues to focus on sustainability initiatives and transparency in its climate-related disclosures.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 9,244,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 00,000,000 |
| Scope 2 | 20,875,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | - | - | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 00,000,000 |
How Carbon Intensive is Insurance Australia Group's Industry?
How Carbon Intensive is Insurance Australia Group's Location?
Insurance Australia Group's Scope 3 Categories Breakdown
Insurance Australia Group's Scope 3 emissions, which increased by 74% last year and decreased by approximately 54% since 2020, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 32% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 67% of Scope 3 emissions.
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Insurance Australia Group's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Insurance Australia Group has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
