Medibank has fast-tracked its plan to Net Zero, bringing forward its commitment and pathway to achieving Net Zero by 2040.
In September 2021, Medibank announced its commitment to Net Zero by 2050. Released today as part of the health company’s 2022 Sustainability Report, Medibank outlined its short, medium, and long-term targets to bring forward its Net Zero goal to 2040. These targets include:
Achieving Net Zero across Scope 1 and 2 emissions by 2025
Reducing Scope 3 emissions by a minimum of 50% by 2030
Achieving Net Zero across Scope 3 emissions by no later than 2040
Medibank Senior Executive – Sustainability Nick Addison said the company has focused on embedding environmental sustainability into the organisation’s strategy and decision making.
Our 2030 vision is to create the best health and wellbeing for all of Australia and we recognise the impact that climate change has on human health.
“If we are to achieve our vision, we need to help protect the health of our planet,” he said.
Medibank has maintained its carbon neutral status for Scope 1, 2 and 3 emissions since 2018 and was the first private health insurer to be accredited carbon neutral by Climate Active in 2019.
“Our accelerated pathway to Net Zero is an important step in our environmental agenda and we are committed to achieving our targets,” he said.
Medibank was also an early adopter of moving to a low carbon equity investment portfolio and recently commenced a review into the sustainability profile of the portfolio, including its greenhouse gas emissions exposure.
“Setting targets to achieve Net Zero across our entire investment portfolio is a key next step for us,” he said.
Mr Addison also acknowledged Medibank’s role in collaborating with the broader health industry.
“While our pathway to Net Zero reflects our own environmental commitment, we know we have a role to play in reducing the climate impact of the broader health industry.
“That’s why we’ll be looking for opportunities to engage with our health partners to drive more sustainable practices across the broader health system,” he said.
To learn more about Medibank’s approach to sustainability and Net Zero, please click here.
