AIA NZ sustainability report highlights aluminium and other waste diversions from landfill

AIA NZ, the largest life insurer in New Zealand, has recently published its sustainability report for the year 2022. The report details the significant contributions made by the company during the previous year and highlights its future commitments in the realm of sustainability.

In the sustaining healthier, longer, better lives report, the insurance company highlighted its notable accomplishments in environmental, social, and governance (ESG) practices over the past year. One significant achievement was obtaining the Toitū carbon reduction certification, which validates that the insurer's greenhouse gas emissions (GHG) have been assessed according to the ISO 14064-1:2018 global standard. This certification reinforces the company's commitment to measuring and reducing its carbon footprint in line with internationally recognized guidelines.

AIA's one billion initiative had a significant impact in New Zealand last year, with over eight million engagements from the public. This initiative inspired individuals to enhance their physical and mental well-being. In addition, AIA outsourced funds management of unit-linked policies to Smartshares, a subsidiary of NZX. This partnership advanced the creation of various Diversified Fund strategies, specifically emphasizing transitioning to ESG solutions that align with the best industry practices.

The sustainability report revealed that AIA House implemented seven waste streams, including aluminium, paper, glass, rigid plastics, soft plastics, and organics. This initiative successfully diverted approximately 10 tonnes of waste from being disposed of in landfills in 2022.

In 2022, the Gallup employee engagement survey revealed an impressive score of 4.30 out of 5 for AIA NZ. This score reflects high employee satisfaction and commitment within the organization. Notably, 63 per cent of the AIA NZ team were classified as 'engaged' employees, highlighting their deep dedication and involvement in their work.

Additionally, AIA NZ demonstrated its commitment to environmental, social, and governance (ESG) principles by establishing a board ESG committee. This committee comprises executive leads for each strategic pillar, with the committee being chaired by an independent director. This move showcases AIA NZ's proactive approach to addressing ESG issues and ensuring responsible and sustainable practices across the organization.

Nick Stanhope, the CEO of AIA NZ, expressed his admiration for the company's dedication and advancements in realizing a broader sustainability vision.

Stanhope said, "We're incredibly proud to have made solid progress on our ESG journey and are pleased to share our story. However, we recognise significant work must be done to achieve our ambitious goals. 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 significantly impact 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 world's healthiest and best-protected nations."