Protecting our unique place in the world.
Our proximity to nature is something we New Zealanders hold close to our heart. It’s a large part of what makes our place in the world unique and something we work hard to protect. It’s a life source we can’t do without.
As the largest New Zealand owned life insurer we have a responsibility to future proof our place in the world for the people who live here. We’ve joined New Zealand’s journey towards a lower carbon future with the achievement of a Toitū carbonreduce certification.
Who is Toitū?
“Toitū is to care for the life of this place, our people and future.”
Like Fidelity Life, Toitū is committed to caring for New Zealand’s environment and its people, today and for future generations.
Toitū helps businesses reduce their carbon footprint and be more sustainable. Importantly, they help businesses understand their impact on people and place and direct their care into achievable goals. If you’ve noticed businesses or products with a carbonreduce or net carbonzero certification, then that’s Toitū’s work.
They’re a wholly-owned subsidiary of Manaaki Whenua – Landcare Research, a Government-owned Crown Research Institute, and their programmes are based on global best practise.
As a Toitū carbonreduce certified organisation since 2021, we measure our greenhouse gas emissions each year in accordance with ISO 14064-1:2018, a set of international standards representing global best practice.
Where we’re at.
Our total net greenhouse gas emissions for the year ended 30-June 2022 were 225 tonnes of carbon dioxide, down 55% from 503 tonnes in 2021.
How our emissions are measured.
Organisations around the world tend to measure their greenhouse gas emissions in one of two ways:
- GHG Protocol standards group emission sources into Scope 1, Scope 2 and Scope 3 activities.
- ISO 14064-1:2018 standards are newer and group emission sources into 6 different Categories, replacing the term ‘Scopes’.
Both sets of standards are widely used and the use of ‘Scopes’ is still widely recognised.*
The table below shows our emissions as Categories and Scopes.
2022 2021 Total Category 1-6 (Scope 1-3) emissions 224.91 503.41 Category 1 (Scope 1) direct emissions 39.29 108.45 Category 2 (Scope 2) indirect emissions from imported energy 44.79 55.70 Category 3 (Scope 3) indirect emissions from transportation 129.32 313.6 Category 4 (Scope 3) indirect emissions from products used 11.51 25.66 Category 5 (Scope 3) indirect emissions from products produced 0.00 0.00 Category 6 (Scope 3) indirect emissions from other sources 0.00 0.00
*Detailed information can be found in the Ministry for the Environment’s Measuring Emissions: A Guide for Organisations (2020)
What are the main sources of our emissions?
Business-related travel is the biggest contributor to our emissions. Our top 4 sources are:
As part of our Toitū certification, we’ve set a target to reduce our emissions by 38% by the year 2030.
Our 2030 targets:
- Reduce Category 1 and 2 (Scope 1 and 2) emissions by 8% from our 2021 base year.
- Reduce mandatory emissions by 38% (all Categories and Scopes combined) from our 2021 base year (intensity target reported as tCO2e per $M operating revenue).
How we’ll aim to get there.
Our Auckland office, Fidelity Life House, is a 6 Green star building and exemplifies world leadership in sustainability measures.
We’re encouraging our people to leave their cars at home in favour of getting to and from work using alternatives like cycling, walking and public transport.
Electric company cars.
While we only lease a small number of company (fleet) cars, we’re making the shift from petrol powered to plug-in hybrid electric (PHEV) powered.
Procurement and supply chain.
We’ll be reviewing our procurement processes to understand how we can ensure our partners and suppliers are taking their own steps towards being more sustainable.
Our annual conference for financial advisers attracts around 300 attendees from all over New Zealand. We hosted Engage 2022 as a carbon zero event, with its own Toitū certification.