AA Insurance sets science based aligned targets to reduce carbon emissions

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Auckland – 22 October 2021 – AA Insurance has set its 2030 science based carbon emissions target as part of its strong corporate and social conscience.

The target is in line with a reduction that supports limiting the global temperature increase to 1.5 degrees Celsius by the end of the century, as set out by the Paris Agreement 2016, says Chris Curtin, Chief Executive at AA Insurance.

“As part of our belief in doing the right thing, we are committed to reducing emissions and preparing for the physical and economic impacts of climate change on our business, community, and across our value chain.

“It’s important we play our part in this shared global challenge regarding climate change, which needs to be addressed by all levels of government, businesses, and individuals,” he continues. “We help the environment is one of our Manaakitia areas of focus, and using 2020 as our base year, we’re focused on reducing emissions across all scopes by 42% by 2030.”

Efforts will be focused on reducing emissions associated with AA Insurance’s vehicle fleet (Scope 1), office electricity use (Scope 2), as well as air travel, paper, and office waste (Scope 3). As an office-based company, emissions from its operations are mainly created by its fleet vehicles and electricity usage, which accounted for 84% of 2021 emissions.

Taking Action

- Developed an action plan to achieve emissions targets, with steps already undertaken to make reductions, including occupying Green Star rated premises, purchasing sustainable office products, transitioning to an electric vehicle (EV) fleet, and engaging staff to help make a positive impact on the environment at work, at home and in the community.

- Achieved a total reduction of 27% on base year emissions from 2020 to 2021, primarily attributed to COVID-19 travel restrictions and the transition of 85% of the fleet to hybrid EVs.

Future Focused

- Committed to understanding the risk that climate change presents to its investments, customers and supply chain, by implementing a Responsible Investment Policy and developing a Supplier Code of Practice, addressing environmental, social and governance risk considerations.

- Addressing the indirect emissions that occur in our value chain. The company is committed to improving the understanding of these Scope 3 emissions and the quality of data as it becomes available.

- Progressing the company’s preparedness for the mandatory climate related financial disclosures to strengthen its governance relating to climate change, formulate strategies based on climate change risk and opportunity analysis, and disclose climate related financial risk information.

- Focused on AA Insurance’s responsibility to create a sustainable future and committed to working with staff, customers and suppliers to proactively respond to its changing landscape.

About AA Insurance

AA Insurance is an independently operated, New Zealand-based joint venture between the New Zealand Automobile Association (NZAA) and Vero Insurance New Zealand Limited (VINZL). Since 1994 we have demonstrated trusted expertise in home, contents and car insurance in New Zealand, and in 2018 introduced commercial small business insurance. We underwrite our own policies and sell direct to New Zealanders. Our 930+ staff look after over 480,000 customers with 970,000 policies.

We proudly partner with Variety NZ and Eden Park and have been consistently recognised by: Reader’s Digest Most Trusted Brands (since 2011) and Quality Service Awards for Car, and Home and Contents Insurance (since 2015), Kantar Customer Leadership Index (since 2019), Canstar Blue Most Satisfied Customers (2011-2018), and the Colmar Brunton Corporate Reputation Index (since 2015) that recognises New Zealand’s most successful companies. AA Insurance was also named Consumer NZ People’s Choice award winner for car, home and contents (2019 and 2020).

AA Insurance has an AA- (Very Strong) Insurer Financial Strength Rating given by Standard and Poor’s (Australia) Pty Ltd. For further information visit aainsurance.co.nz.

For more information please contact:

Rachael Joel, Botica Butler Raudon Partners, (09) 303 3862, 021 403 504 or rachaelJ@botica.co.nz

Amanda Fifield, AA Insurance, 027 406 1787, amanda_fifield@aainsurance.co.nz

Media contacts

Customer enquiries

Call us on 0800 500 231 or contact us

Journalist only enquiries

Amanda Fifield

Corporate Communications Specialist, AA Insurance

Mobile: 027 406 1787 Email: mediacontact@aainsurance.co.nz

Rachael Joel

Group Account Director, Botica Butler Raudon

DDI: (09) 303 3862 Mobile: 021 403 504 Email: rachaelj@botica.co.nz

Marketing and sponsorship enquiries

Email: brandteam@aainsurance.co.nz