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Insurance Australia Group (IAG)

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

 IAG considers environment, social, and corporate governance (ESG) issues when constructing its investment strategy and guidelines. The investment principles are considered (and balanced) against investment and strategies collectively, with a view to aligning to, and supporting the delivery of IAG's purpose.

IAG is committed to minimize the negative impacts of its business and pursue continuous improvement in its social and environmental performance. IAG does this by managing its direct and indirect impacts, exploring and pursuing opportunities to improve performance in its value chain and sphere of influence. This includes IAG’s procurement, supply chain, investments, partnerships and interactions with customers, as well as through IAG’s engagement with government and civil society.

IAG’s strategic commitments to climate change are set out in its Climate Action Plan, one focus area is  Invest Responsibly which outlines how IAG invests responsibly to address climate impacts through three objectives:

  • Shift investments to companies that have a lower exposure to climate-related risks or a forward-looking strategy to manage these risks.
  • Actively support action on climate change and a net-zero future.
  • Measure carbon intensity and include climate related risks in the (ESG) risk management of our investments.

 

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

 

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

URL/Attachment

02.3. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Investment activity complies with IAG Group policies, regulatory requirements, fiduciary and contractual obligations, and industry membership obligations.

1. IAG Group requirements
 IAG Capital Markets  is required to ensure that its policies and/or procedures proactively identify areas in which a COI may arise within the Business Unit. Employees must report all suspected conflicts of interest on the Conflicts of Interest Register on the intranet and to their immediate manager.

2. Regulatory requirements
As an Australian Financial Services Licence (AFSL) holder, IAG Asset Management is required to comply with ASIC Regulatory Guide 181 Licensing: Managing Conflicts of Interest.

3. IAG Asset Management's fiduciary obligations as Trustee of the IAG Asset Management Wholesale Trusts
These include obligations set out in the Trust Deeds and common law principles.

03.3. Additional information. [Optional]

As a general insurance company, IAG does not manage money on behalf of external clients.


SG 04. Identifying incidents occurring within portfolios (Private)


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