Suncorp New Zealand Commits To Renewable Energy Scheme

Suncorp New Zealand is the first New Zealand insurer to adopt Meridian Energy’s 100% Certified Renewable Energy product.

From July 1, nearly 100% of Suncorp New Zealand’s electricity will be certified under the scheme, which verifies that the electricity it consumes from the national grid can be accounted for within Meridian Energy’s renewable energy production.

The move follows Suncorp Group’s announcement that the business has joined internationally recognised names such as Ikea, Starbucks and Nestle as a member of RE100, a global initiative by The Climate Group in partnership with CDP of more than 240 businesses who share a common goal of transitioning to 100% renewable electricity.

“Suncorp’s investment in this certification means our New Zealand business can now report our Scope 2 electricity emissions as zero,” says Catherine Dixon, Executive General Manager People Experience at Suncorp New Zealand. “The NZECS certification confirms our support of renewable energy generation and our commitment to sustainable growth.”

Suncorp’s 2020-22 Environmental Performance Plan sets out its strategy to transition to a low-emissions and resource-efficient organisation.

Ms Dixon says, “We’ve made great strides as a business in reducing our environmental impact, and this certification is an important step towards meeting our greenhouse gas emission reduction targets of 51% absolute reduction by 2030 aiming for net-zero emissions by 2050.”

Sam Kimmins, Head of RE100 at The Climate Group, said: “Congratulations to Suncorp New Zealand on becoming the first insurer in the country to be purchasing 100% renewables, meeting their RE100 target in New Zealand. Working to achieve 100% renewable electricity is becoming the de-facto expectation for any major company wishing to be considered a sustainability leader. It’s crucial that other businesses in New Zealand follow Suncorp’s lead and commit to renewable energy goals to increase the growing demand for complete decarbonisation.”

Meridian Energy’s Certified Renewable Energy Product offers renewable energy certificates which match businesses’ electricity consumption with renewable energy generation. It enables Suncorp to support the electricity generation that matches its values and encourages the development of sustainable energy generation in New Zealand.

“Meridian’s certified renewable energy gives our business customers the ability to demonstrate their commitment to New Zealand’s low carbon future,” says Meridian's Chief Customer Officer, Lisa Hannifin.

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