- Achieved Toitū carbonreduce certification
- Diverted 10 tonnes of waste from landfill with new waste management programme
- Paid 93% of claims received, totalling $556.4M in 2022*
- Grew to 35,000+ AIA Vitality members, encouraging them to improve their physical and mental wellbeing
- Enhanced employee parental leave policy to 14-weeks paid leave + KiwiSaver contributions during the unpaid period
- Established a dedicated Board Environmental, Social and Governance (ESG) Committee.
Aotearoa New Zealand’s largest life insurer, AIA NZ, has released its 2022 Sustainability Report: Sustaining Healthier, Longer, Better Lives, with a guiding principle that a healthier environment brings healthier communities.
The report outlines the actions AIA NZ is taking to contribute to a more sustainable future. Acknowledging there remains considerable work still to do, these actions include achieving Toitū carbonreduce certification, introducing a waste management programme that has diverted 10 tonnes of waste from landfill, and commencing our sustainable investment journey: focusing on creating long-term value in response to investors’ increasing awareness of ESG-related factors on risks and returns.
Nick Stanhope, AIA NZ CEO, says it is heartening to see our commitment in practice across a wide range of areas, and our collective progress towards the company’s wider sustainability vision.
“We’re incredibly proud to have made such solid progress on our ESG journey and are pleased to be sharing our story. However, we recognise there is still significant work to be done to achieve our ambitious goals,” says Nick.
"ESG is fundamental to delivering on our purpose of helping New Zealanders live Healthier, Longer, Better Lives. We know from our recently launched Environment and our Health report that the environment can have a significant impact on our health.
“So, AIA NZ is demonstrating our commitment to improving the environment and the health of our communities through our ESG goals. We want to play a direct role in helping Aotearoa New Zealand become one of the healthiest and best protected nations in the world.”
The Sustainability Report is built around AIA NZ’s five strategic ESG pillars: Health and Wellbeing, Sustainable Operations, Sustainable Investment, People and Culture, and Effective Governance. Through these pillars AIA NZ is dedicated to not only reducing its environmental impact, but fostering an engaged workforce, empowering Kiwi families to put their health first, creating long-term sustainable value and ensuring robust overarching governance so the business continues to operate at the highest standards.
AIA NZ’s Board ESG Committee Chair and Independent Non-Executive Director, Tracey Cross, says this report is an important step forward in showcasing AIA NZ’s ambitions in ESG.
“With the ESG strategy embedded across the organisation, engaging with all stakeholders is crucial for AIA NZ as we work together to shape a sustainable future for the communities we serve,” says Tracey.
“Going forward, as a mandatory Climate Reporting Entity, AIA NZ will focus on meeting the requirements of Aotearoa New Zealand Climate Standards, and developing a strategy to mitigate the physical and transitional risks of climate change and a low-carbon future.”
The progress made in 2022 is an important start towards achieving net zero greenhouse gas emissions by 2050. This mission coincides with the net zero commitment of AIA Group and its overarching goal to deliver long-term sustainable value for its customers, shareholders, employees, partners, and communities.
Nick notes AIA NZ, as the country’s largest life insurer, has a responsibility to take up opportunities to improve the health of both people and planet.
“As a business built on long-term promises to our customers, we’re future-proofing AIA NZ by making sustainability integral to how we do business,” he concludes.