AFG plans to become a carbon-neutral organisation by 2030 as it steps up its commitment to environmental sustainability.
As part of this journey, AFG has been measuring its annual carbon footprint since 2021 through Carbon Neutral, a market market-leading Australian climate solutions provider.
Carbon Neutral undertakes a detailed audit of AFG’s carbon footprint and emissions, providing vital information so that positive action can be taken to minimise its impact.
AFG chief executive David Bailey said AFG has been investigating and implementing initiatives to help reduce its emissions.
Mr Bailey said the cumulative effect of multiple small changes could make a big difference, and AFG had already made a start.
These changes range from the introduction of paperless documentation for brokers, to putting in place a formal hybrid working policy, enabling staff (in roles where practical) to cut commuting emissions by working from home for up to two days each week.
“AFG has also taken positive steps to reduce waste and increase recycling in our offices, and reduce travel and review our procurement and supply chain so that environmental and social impacts are a key consideration,” he said.
“There is still a lot of work to do, and we don’t yet have all the answers – but we have made some good progress in our commitment to protect the planet.”
While the focus is on reducing emissions, any unavoidable emissions will be offset, starting in FY2023 when AFG will offset flights and hotel accommodation.
As well as looking to address its own footprint, AFG has developed its first customer facing environmental initiative. From July 1, 2022, AFG will plant a tree for every AFG securitised mortgage written – at no additional cost to the customer.
Partnering with Carbon Positive Australia, a variety of native species trees will be planted on degraded Australian land sites
, providing corridors for native fauna, and supporting biodiversity and ecosystem restoration.
Mr Bailey said AFG’s efforts on the climate were consistent with the United Nations’ Sustainable Development Goals.
AFG became a participant in the UN Global Compact in 2022, formalising its alignment with the UN’s principles and Sustainable Development Goals.
“These goals will help drive sustainable business practices for AFG across the environment, human rights, labour, and anti-corruption, and help support our mission to create a positive impact on our business, stakeholders and the community,” Mr Bailey said.