As an international insurer and reinsurer, strong corporate governance, sustainable business practices, providing a great place to work and making a positive contribution to our customers’ lives, and the economies and communities in which we operate, are a key focus.
Integrating sustainability into our business can help us to deliver on our purpose of enabling a more resilient future. We believe that addressing current and emerging sustainability risks and opportunities allows us to be a consistent and innovative risk partner, responding to the needs of our customers, people, and the communities in which they live.
In 2022, we refreshed our sustainability strategy to focus on three key areas outlined below, and these have been incorporated into our 2023-2025 Sustainability Scorecard. This sustainability strategy refresh has enabled us to better focus our sustainability commitments and clarify the role that QBE can play in having a positive impact on our environment and society.
In 2023, we undertook an in-depth materiality assessment through which we reprioritised and reduced the number of material sustainability topics for our business from 38 to 20, to better reflect the current reporting landscape and frameworks, and to prepare for emerging reporting requirements. A mapping of the previous topics to the new topics can be found on our Materiality webpage. In 2023, our approach focused on societal and environmental impacts on, as well as through, QBE’s business activities and value chain. This is reflected in the updated materiality matrix.
Our annual Sustainability Report outlines our performance for the year and initiatives that are underway in our areas of focus.