RACQ supports the ICA’s Climate Change Roadmap
RACQ supports the Insurance Council of Australia’s (ICA) Climate Change Roadmap, standing alongside other insurance companies in a joint commitment to achieving net zero by 2050
RACQ Chief Executive Officer David Carter said climate change poses a significant threat to the lives of our members and communities and requires immediate and collaborative action.
“The ICA’s roadmap outlines a genuine way forward for the insurance industry to work together to reduce the risk of our changing climate,” Mr Carter said.
“As a leading Queensland insurer, we have seen the devastation caused by climate change and we stand with the ICA and other insurers to improve our resilience and keep insurance more affordable and accessible for our members.
“Helping Queenslanders transition to a more sustainable future and preserving the liveability of our state is core to RACQ’s strategy. While we’ve made good progress with the launch of RACQ Solar, our full suite of green loans and support for Queensland’s Electric Superhighway, we know there is more to do.”
Mr Carter said RACQ’s own climate commitments will be increased in line with the roadmap framework.
"RACQ will make the switch to 100% renewable energy for our owned buildings before 2024. However, to meet our operational net zero targets and reduce the rest of our operational emissions relies on the availability and scalability of new technologies.”
“This is extremely important as RACQ is more than an insurer, we own the state’s largest roadside assistance network which includes a large fleet of heavy vehicles.
“We are prepared to lead by example by transitioning to a low emissions fleet. More needs to be done to test and prove these new technologies to ensure minimal impact to our members.
“We will be working with governments, other fleet owners and the research sector to progress this.”
Mr Carter recognised the unresolved challenges ahead for insurance companies with regards to the wide range of scope three (indirect) emissions, including those of our members (when using RACQ products and services), suppliers and where we direct our investments.
“This remains a key challenge for the industry, and this roadmap provides a good platform for the industry to work together to tackle this issue.”
Mr Carter said RACQ looks forward to continuing to work with ICA and other members on the implementation of the roadmap going forward.