QBE is committed to environmental stewardship and integrating consideration of environmental sustainability across our business. This includes management of environmental issues, risks and opportunities including but not limited to; climate change; nature and biodiversity; resource scarcity; product stewardship; and waste and pollution.
Our Group Environment Policy (Policy) is complemented by our commitments to:
- United Nations Global Compact (UNGC) and the Ten Principles;
- UN Environment Programme – Finance Initiative, Principles for Sustainable Insurance (PSI) and the UN Principles for Responsible Investment (PRI);
- UN-convened Net-Zero Asset Owner Alliance (NZAOA);
- The Climate Group’s RE100 initiative.
The Policy sets out the global minimum standards for QBE’s management of environmental issues, that our employees, including contractors, Board Directors and wholly owned subsidiaries, must follow.
It also outlines the approach that QBE adopts in relation to managing environmental dependencies and impacts, integrating environmental requirements into our business practices and the roles and responsibilities undertaken by different business units. It applies to our business operations and through our role as an insurer, investor, employer, as a business sourcing goods and services, and within the community.
Under the Policy, QBE is committed to integrating consideration of environmental sustainability across our business by:
- Ensuring our decision-making and actions are guided by the Group Code of Ethics and Conduct;
- Complying with applicable environmental legislation, regulations, and QBE publicly disclosed commitments;
- Maintaining awareness of the regulatory landscape and best practice approaches and subsequently updating our approach as necessary;
- Complying with our Environmental and Social (E&S) Risk Framework, which outlines the minimum standards to which QBE adheres as a business, in respect of social and environmental issues;
- Embedding our Supplier Sustainability Principles, which include minimum expectations of our suppliers, in relation to environmental sustainability;
- Supporting local communities to address environmental challenges throughout the countries and territories in which we operate via the QBE Foundation, with a major focus on climate resilience and inclusion;
- Working with government, industry, and other stakeholders to advocate for awareness and action on environmental issues; and
- Being accountable for, and transparent in our progress and performance in relation to environmental challenges through at least annual disclosure.