Australian Unity named in AFR Sustainability Leader list for third consecutive year

09 July 2024

Tags: Media

Australian Unity has been recognised as one of the Australian Financial Review’s (AFR) Sustainability Leaders for the third consecutive year. This accolade acknowledges Australian Unity’s $50 million wellbeing-based sustainability-linked loan (SLL) with Westpac Bank.

The SLL is one of the first of its kind in Australia with sustainability performance targets linked to social impact outcomes, rather than environmental targets. The loan is connected to Australian Unity’s proprietary Community and Social Value (CSV) Framework, which measures the social impact of the company’s activities.

In line with the terms of the loan, Australian Unity will receive a lower interest rate if it delivers on wellbeing outcome targets as measured against the CSV Framework. Conversely, a higher interest rate will be applied if its targets are not achieved.

Chief Financial Officer and Group Executive for Finance and Strategy, Darren Mann, said that Australian Unity’s inclusion on the list for the third-year running is recognition of the organisation’s ongoing commitment to public accountability for its social impact goals.

"Australian Unity has taken a novel approach to measuring our social impact through the development of our CSV Framework. We always held the ambition to become truly accountable to the framework by attaching finance to it, and we found a willing partner in Westpac. We hope that the loan will serve as a benchmark for the industry, demonstrating how financial instruments can drive positive change.”

“Our inclusion in the AFR’s 2024 Sustainability Leaders list reflects our ongoing commitment to sustainability and community wellbeing. This recognition underscores our efforts to align financial performance with social responsibility."

The Sustainability Leaders list, presented in conjunction with Boston Consulting Group, is now in its third year. It celebrates Australasian companies that are making progress in tackling sustainability challenges while also delivering business value.

About the Sustainability-Linked Loan
The Sustainability-Linked Loan is issued under Australian Unity’s Sustainability-Linked Financing Framework, which obtained a Second Party Opinion from ISS Corporate Solutions, Inc., confirming alignment to the Sustainability-Linked Loan Principles and Sustainability-Linked Bond Principles. Australian Unity was supported by Westpac who acted as Sole Sustainability Coordinator.

For more information about Australian Unity’s Sustainability-Linked Loan, view the Sustainability-Linked Financing Framework.


About Australian Unity
Established in 1840, Australian Unity is a member-owned wellbeing company with more than 385,000 members and more than 700,000 customers. Our range of health, wealth and care products and services provides member, customer and community value that is supportive of personal and community wellbeing.

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