IAG welcomes today’s announcement that the Australian Government will strengthen climate risk reporting and develop a sustainable finance strategy.

IAG CEO and Managing Director Nick Hawkins said: “As Australia and New Zealand’s largest general insurer, we see the impacts of a changing climate firsthand as severe weather events continue to impact our customers.

“It is critical that we take action to help protect and improve the resilience of our communities and mitigate the impacts of climate change and other disruptions to our nation. We welcome the Treasurer’s announcement to support greater investment in sustainable finance to protect Australians from future climate risk, as well as the establishment of the National Resilience Taskforce.”

IAG joined an ASFI-organised event today with Australia's Treasurer The Hon. Dr Jim Chalmers MP, alongside other leading Australian financial institutions, financial services firms, and industry peak bodies.

In a demonstration of the Treasurer and finance sector’s willingness to work together to enable the finance sector to better support the climate, environment and social objectives of Australia, industry participants at the event issued a Joint Statement on Accelerating Sustainable Finance.

The Statement endorses the Treasurer’s announcements on sustainable finance and outlines the actions that the finance sector will continue to take to support better climate, environmental and social outcomes.

The Joint Statement, of which IAG is a signatory, has been published on the ASFI website.