ENVIRONMENT

On this page
  • Progressing our pathway to Net Zero
  • Task Force on Climate-related Financial Disclosures
  • Our investment portfolio
  • Environmental Policy
  • Carbon neutral

The health of the environment impacts us all

If we are to achieve our vision to deliver the best health and wellbeing for our customers, our people and our community, we must help protect the health of our planet by reducing our environmental impact and supporting others to do the same.

We recognise the science of climate change and its impact on human health and know we have a role to play.

Progressing our pathway to Net Zero

Medibank is committed to achieving Net Zero by 2040. Our pathway is based on Medibank Group's 2022 business-as-usual operations and does not account for any future partnership or investment activity. Our investment portfolio is also currently out of scope, but we are considering a pathway to Net Zero for this. We transitioned to a lower-carbon equity portfolio for our domestic and international equities in 2019.

We continue to work towards our science-based targets, which align with the Intergovernmental Panel on Climate Change recommendations to help limit global warming to 1.5°C above pre-industrial levels.

Task Force on Climate-related Financial Disclosures

In October 2021, we became an official supporter of the Financial Stability Board's Task Force on Climate-related Financial Disclosures (TCFD).

We recognise the importance of increasing transparency of climate-related risks and opportunities, promoting more informed financial decision making and building a more resilient financial system.

In 2023, we participated in the Carbon Disclosure Project (CDP) for the fifth year in a row. CDP aligns to the TCFD framework and supports our transparent disclosure of climate-related risks and opportunities.

Our investment portfolio

Our Responsible Investment Policy outlines our continued commitment to invest in green bonds that fund projects with environmental benefits. Some examples include wind farms, solar farms, cleaner transportation and lower-carbon commercial properties. In 2023 we maintained our lower-carbon equity portfolio for both international and domestic investments. 

Environmental Policy

We consider the environment in our decision making through monitoring, measurement and reporting and climate risk management. We’ve also integrated climate change risk into our organisational risk management approach. 

Our Environmental Policy outlines our commitment to seek to reduce emissions, improve the environmental efficiency of our premises and raise awareness of the health impacts of climate change. It also details responsibilities in relation to investing, reporting, reducing and offsetting emissions and engaging with others we work with.

We acknowledge that climate change increases the severity and frequency of natural disasters, and we consider the risk of these events in our broader business continuity planning.

Carbon neutral

Medibank is currently certified by the Australian Government’s Climate Active program for our business operations. We are committed to maintaining this status by managing our carbon footprint and purchasing carbon offsets.

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