IAG has secured renewable energy supply agreements across its Australian and New Zealand operations that it says mark a “tangible step” towards meeting its 2050 net zero carbon emissions target.  

“How we address sustainability is critically important to our long-term business performance and our ability to influence and support Australia and New Zealand’s transition towards a low-carbon climate-resilient economy,” head of sustainability Lee McDougall said. 

From next year, Sydney-based CleanPeak Energy will provide renewable power to IAG’s Australian sites in a six-year deal under which Grong Grong Solar Farm in NSW – a community project with more than 700 small shareholders – will provide about one-fifth of IAG Australia’s power.  

“Large corporations can innovate to invest in community-led initiatives as Australia transitions to net zero,” Mr McDougall said. 

In New Zealand, Ecotricity will procure renewable electricity for the insurer’s operations.  

IAG's use of renewable energy extends to its claims supply chain operations in both countries, including Motorserve and RepairHub.   

CleanPeak owns solar, battery and thermal energy infrastructure. Its CEO and founder Philip Graham says IAG has shown leadership in decarbonising and its commitment will support the building of solar farms in regional locations.  

“Our partnership with IAG and our focus on delivering tailored solutions for multi-site customers is exactly how we can accelerate the transition to net zero,” said Mr Graham, a former investment banker at Citigroup, ABN Amro and Merrill Lynch. 

IAG is targeting net zero in its investment portfolio by 2050, in line with the Paris Agreement. See its climate targets here.