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insurance company scoops top ethical award

January 2007

The Insurance Australia Group (IAG) has taken the top spot in Ethical Investor’s 2006 Australian Sustainability Awards for its climate change policies.

The organizers said that possibly no other large company better typified the trade-off between short-term market pressures and the longer-term benefits of sustainability.

The announcement of the Sustainable Company of the Year award to the insurer read: ‘While IAG has been recognized for its sustainability programmes for the last few years, it was this year that this short-term market challenge was presented.

‘Its response? Tireless advocacy on the threats posed by climate change. And yet while this continued sustainability commitment sees the company somewhat out of step with its industry competitors, it has also won new institutional shareholders that recognize its true long-term focus.’

The other main winners were: Sustainable Small Company of the Year, Blackmores; Special Award for Environment, CO2 Group; Special Award for Social/Community, Suncorp-Metway; Special Award for Corporate Governance, Wesfarmers; Special Award for Labour Relations, ANZ Group.

The Best Practice Charity Award was presented to SANE Australia and the Best Community Project Award was given to First Language Reading Course, a project of the Australian Literacy and Numeracy Foundation. The Ethical Fund of the Year Award was taken by BT Ethical Share Fund.



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