Australian Unity releases its first ever 'Impact report'

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Australian Unity has released its inaugural standalone report, Our Impact, detailing its performance against environmental, social, and governance (ESG) criteria.

The company said it used its Community and Social Value (CSV) outcomes framework to apply a dollar value to its three defined areas of impact - lifelong wellness, economic empowerment, and strong communities.

Designed and guided by partner organisation Social Ventures Australia, the measurement process showed that Australian Unity delivered community and social value of $1.25 billion in financial year 2021.

The report also outlined the company’s commitment to better understanding and improving its environmental performance. This included its support for the goal of net-zero emissions by 2050 and the work it is progressing on principles, policies, initiatives and targets to achieve this target.

In terms of governance, which is the third component of the ESG criteria set, the company said its commitment to good corporate governance and sound risk management practices form the foundations of its sustainability.

Australian Unity’s group managing director Rohan Mead said, “As one of Australia’s original social enterprises, we were founded by community leaders who believed in the power of collective endeavour and shared value to address the most pressing challenges of the day.

“Today, we continue to evolve a portfolio of health, wealth and care products and services that deliver real wellbeing to members, customers, and the broader community.

“By holding true to our community roots, member-centricity and our long-term perspective—while progressing our commercial strategies and contemporary capabilities in research, customer-service, digital and data—we can respond to today’s challenges and maximise our social impact and the value we deliver.”