Suncorp Group Limited is a leading financial services company in Australia that operates in the property and casualty (P&C) insurance sector. The company was founded in 1902 as the Queensland Agricultural Bank and has since grown to become one of the largest insurers in Australia. Suncorp Group has a diversified business model that includes insurance, banking, and wealth management services. The company has a strong commitment to sustainability and has made significant efforts to reduce its carbon footprint and promote renewable energy.

Decarbonisation is a key focus area for Suncorp Group, and the company has set ambitious targets to reduce its greenhouse gas emissions. In 2019, Suncorp Group announced that it would achieve net-zero emissions by 2050, in line with the Paris Agreement's goal of limiting global warming to below 2 degrees Celsius. To achieve this target, Suncorp Group is implementing a range of initiatives, including increasing energy efficiency, reducing waste, and promoting renewable energy.

One of the ways that Suncorp Group is promoting renewable energy is through corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy provider that guarantees a fixed price for electricity generated from renewable sources. By entering into a PPA, companies like Suncorp Group can reduce their reliance on fossil fuels and promote the growth of renewable energy.

Suncorp Group has signed several corporate PPAs in recent years, including a 20-year agreement with the Murra Warra Wind Farm in Victoria. Under the agreement, Suncorp Group will purchase 80% of the electricity generated by the wind farm, which will provide enough renewable energy to power more than 100,000 homes. Suncorp Group has also signed a PPA with the Bomen Solar Farm in New South Wales, which will provide renewable energy to the company's offices and data centers.

In addition to corporate PPAs, Suncorp Group is also investing in its own corporate energy infrastructure. The company has installed solar panels on the roofs of its offices and data centers, which generate renewable energy and reduce the company's reliance on grid electricity. Suncorp Group has also implemented energy efficiency measures, such as LED lighting and smart building systems, to reduce its energy consumption.

Suncorp Group's commitment to sustainability extends beyond its own operations and into its insurance products. The company offers a range of insurance products that promote sustainability, including home and contents insurance that covers the cost of repairing or replacing damaged or lost items with more energy-efficient and sustainable alternatives. Suncorp Group also offers car insurance that rewards customers for driving less and using more sustainable modes of transport, such as public transport or cycling.

In conclusion, Suncorp Group Limited is a leading financial services company in Australia that operates in the property and casualty insurance sector. The company has a strong commitment to sustainability and has made significant efforts to reduce its carbon footprint and promote renewable energy. Suncorp Group has set ambitious targets to achieve net-zero emissions by 2050 and is implementing a range of initiatives, including corporate PPAs and corporate energy infrastructure, to achieve this goal. The company's commitment to sustainability extends beyond its own operations and into its insurance products, which promote sustainability and reward customers for making more sustainable choices.