General insurance giant Insurance Australia Group (IAG), which has a long history of supporting reconciliation, has released its new Stretch Reconciliation Action Plan (RAP) to address Indigenous incarceration and climate change.
RAP outlines several initiatives related to climate change and disaster mitigation, including purchasing carbon offsets from First Nations communities. Additionally, it reaffirms IAG's support of the Uluru Statement from the Heart, recognising the significance of acknowledging historical truths and ensuring Aboriginal and Torres Strait Islander people have a voice on issues impacting their communities.
“We know there are complex issues affecting Aboriginal and Torres Strait Islander peoples and the broader Australian community. Our new RAP will be guided by several key initiatives, including working with First Nations communities to address climate change and disaster resilience and decrease Indigenous incarceration,” said Nick Hawkins, CEO and managing director of IAG.
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Since 2020, IAG has increased the number of carbon credits it purchases from Indigenous offset projects, including sourcing over 7,000 Australian Carbon Credit Units (ACCUs) from the Northern Savanna Project run by Alka Bawar (Kalpowar) Aboriginal Corporation. In its previous RAP, the insurer focused on Indigenous incarceration and has since established a partnership with Just Reinvest NSW involving community-led justice reinvestment initiatives in Mount Druitt (NSW).
As part of the new RAP, IAG will continue sourcing ACCUs from the Northern Savanna Project and support other First Nations projects.
Reconciliation Australia CEO Karen Mundine said: “On behalf of Reconciliation Australia, I commend IAG on this Stretch RAP and its commitment to its ongoing reconciliation journey. 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.”
The Stretch RAP is IAG's fourth RAP and covers 2022 to 2025.
