Insurance Australia Group Limited (IAG)

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A message from our CEO

Our approach to business sustainability is central to our ongoing success as an organisation. It lets us bring the future into today’s decision making, using our risk management expertise to assess and prepare for long term risks

The basis of IAG’s approach is to make sure today’s decisions are made with a view to tomorrow, focussing on the areas which have a direct bearing on our ability to remain strong and profitable into the future.

Our commitment to building a sustainable group informs everything we do – how we build on the economic foundations we’ve laid, the working environment and development opportunities we provide for our people, our relationship with our customers, our approach to managing environmental risks and impacts, and our commitment to the communities in which we operate.

We’ve identified five interconnected levers as central to our continuing success:

Economic – delivering value for our shareholders through strong and consistent financial performance. Central to this is maintaining a strong capital and investment position, and using our risk expertise to appropriately identify and manage risk;
Customer – being the insurer of choice through innovative products and a high standard of service, and being there at claims time to honour the promise we make when we sell a policy;
Workforce – having an engaged workforce with the right people in the right roles today, and developing talent for the future;
Community – engaging with the communities in which we operate to help them reduce and manage their risks and to increase their resilience;
Environment – managing our impact on the environment, and helping customers and the community prepare for a world in which severe weather events may become increasingly common.

Whether these factors affect us positively or negatively depends on how we manage them. An important step in managing them is being clear about what we are trying to achieve and then measuring the outcomes of our efforts.

In this section of our website, you’ll find information on our approach to business sustainability, how it informs our strategy, and how we’ve performed against our goals.

A printable version of this content is also included for ease of review.

We welcome feedback that you have (sustainability@iag.com.au) and I also invite you to click on the link below to complete a short survey on our on-line content.

About this report

Scope of this report

Our 2010 Business Sustainability report comprises this information on our website, on the Business Sustainability pages together with an overview that is included within the 2010 Annual Review. Further information about IAG is included on the About IAG pages of this website. The report outlines our business sustainability goals, and our performance in achieving them. The report covers our performance for the year to 30 June 2010 and includes qualitative and quantitative information. Quantitative information is provided for our Australian, New Zealand, Thai and UK businesses whilst qualitative commentary is provided for all of our operations, including joint venture arrangements.

AA1000 AccountAbility Principles Standard (APS) and GRI

Whilst we continue to use the Global Reporting Initiative (GRI) Sustainability Guidelines (including the Financial Services Sector Supplement) as the basis for our reporting, it is engagement with our stakeholders that occurs throughout the year, together with the AA1000 APS that drive the content of our reporting. For more information refer to the Introducing our approach section of this website.

Global Reporting Initiative (GRI) (138kb .pdf)

Assurance

KPMG have provided a limited assurance report on IAG's description of its alignment with AA1000 APS at a group level as presented on our website under the sections "About IAG" and "Business Sustainability" and sustainability indicators, in aggregate as presented in the Data Summary table of the "Business Sustainability" section, for the year ended 30 June 2010.

Assurance Report (36kb .pdf)

External recognition and benchmarking

IAG also participates in external benchmarking activities and sees this as a valuable way to capture feedback from a variety of stakeholders on what we are doing well and what we could do better. We are proud that we continue to be recognised externally for our commitment to business sustainability.

	Global 100 Most Sustainable Corporations IAG has been recognised in the 2011 Global 100 Most Sustainable Corporations in the World. The aim of the Global 100 list is to identify and recognise global corporations that have been proactive in managing environmental, social and governance issues. IAG was also recognised in 2006, 2007, 2008 and 2010.

	Dow Jones Sustainability Indexes This index tracks the economic, environmental and social performance of the leading sustainability driven companies worldwide. IAG has been ranked a global sector leader since 2006.


	FTSE4Good This index measures the performance of companies that meet globally recognized standards on corporate social responsibility. IAG has been a member of the FTSE4Good Index series since 2005.

	Carbon Disclosure Project IAG has been included in the Australia and New Zealand Goldman Sachs JBWere Climate Disclosure Leadership Index since 2008. This index constitutes companies demonstrating leadership in disclosure across a range of climate change issues relevant to investment.