Insurance Australia Group (IAG) has released its latest Stretch Reconciliation Action Plan (RAP), outlining initiatives to tackle ongoing issues in Indigenous communities.

The plan aims to increase investment in First Nations communities to address climate change impacts, improve disaster resilience and reduce Indigenous incarceration rates.

IAG MD and CEO Nick Hawkins says IAG’s commitment to engaging with Indigenous communities is a vital part of its company goals.

“IAG has a long and proud history of supporting reconciliation and today we are deepening our commitment to Aboriginal and Torres Strait Islander peoples with the release of our fourth Reconciliation Action Plan,” Mr Hawkins said.

“Our new RAP will be guided by several key initiatives, including working with First Nations communities to address climate change and disaster resilience and to decrease Indigenous incarceration.”

The plan will increase the number of carbon credits IAG purchases from Indigenous offset projects. IAG will source more than 7000 Australian Carbon Credit Units from the Northern Savanna Project in Queensland, run by Alka Bawar (Kalpowar) Aboriginal Corporation.

The insurer says it will increase current investments in community programs to address the issue of Indigenous incarceration.

As part of its partnership with Just Reinvest NSW, IAG launched a learner driver program providing young Indigenous Australians access to free driving lessons and support to help them secure their licence.

“The incarceration rate for Aboriginal and Torres Strait Islander peoples is one of the highest in the world,” Mr Hawkins said.

“Not only is this a significant issue for Australia, but it also has insurance implications. The community response to the Learner Driver Program has been positive and we are already seeing some great results.”

IAG says that the RAP takes a “First-Nations-led approach” to ensure initiatives develop and support First-Nation communities.

IAG also reaffirmed its support for the Uluru Statement from the Heart, pushing for constitutional recognition of a First Nations Voice.

Reconciliation Australia CEO Karen Mundine commended IAG for their ongoing commitment to Indigenous communities.

“These initiatives, among many others, show IAG continuing to invest in long-term and constructive partnerships with Aboriginal and Torres Strait Islander peoples and communities, to effect substantive change for reconciliation,” Ms Mundine said.