On this page
- Progressing our pathway to Net Zero
- Preparing for the Australian Sustainability Reporting Standards
- 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 Australia, 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, we know the impacts it can have on human health, and the role that the healthcare sector needs to play by reducing our environmental impact.
Progressing our pathway to Net Zero
Medibank is working to achieve Net Zero by 2040. Our science-based targets are aligned with the Intergovernmental Panel on Climate Change (IPCC) recommendations to help limit global warming to 1.5°C above pre-industrial levels. Our Net Zero pathway was established in FY21 and is based on Medibank Group's business-as-usual operations at that time and doesn't account for any future partnership or investment activity. We expect that our Net Zero strategy will be reassessed during FY25, following Medibank's increased investment in Myhealth in January 2024.
Preparing for the Australian Sustainability Reporting Standards
We are required to report against the Australian Government's mandatory sustainability disclosure regime from the FY26 reporting year. We're preparing for this by completing a gap analysis of our current disclosures against what will be required, developing a roadmap to address gaps, and convening a cross-functional working group to engage all business units.
Our investment portfolio
Our Responsible Investment Policy outlines our continued commitment to invest in green bonds financing projects with environmental benefits including wind and solar farms, cleaner transportation and lower-carbon commercial properties. We transitioned to a lower-carbon equity portfolio for our domestic and international equities in 2019.
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' (excluding Myhealth) Scope 1, 2 and 3 emissions. We are committed to maintaining this status by managing our carbon footprint and then investing in projects that seek to reduce or remove emissions from the atmosphere.
