IAG has announced a commitment to spend A$10m (US$6.4m) with Indigenous-owned suppliers over the next three years as part of its fifth Reconciliation Action Plan (RAP).
The new RAP was launched at the National Centre of Indigenous Excellence in Redfern and runs from 1 July 2025 to 30 June 2028.
The latest plan, classified as a “Stretch RAP”—a designation for organisations that are ready to set ambitious, longer-term targets and embed reconciliation initiatives into their core business strategies—also represents a 68% increase from the A$3.2 million allocated for Indigenous procurement in the company’s previous RAP in 2013.
In a statement, the Australian general insurer said the expanded investment aims to improve economic opportunities for Indigenous businesses and further strengthen relationships with Aboriginal and Torres Strait Islander communities.
Alongside its A$10m commitment, IAG says it will procure goods and services from female-owned Aboriginal and Torres Strait Islander businesses, boost internal workplace policies to provide a safe and inclusive work environment, invest in the career development of Indigenous people, and partner with Indigenous communities to uplift their lives.
Commenting on the initiative, IAG Managing Director and CEO, Nick Hawkins, vowed his company’s commitment “to take a leadership role in driving reconciliation and advocating for meaningful change for Aboriginal and Torres Strait Islander people.”
Karen Mundine, the Chief Executive Officer of Reconciliation Australia, also welcomed the move, saying, “This ambition is matched by efforts to offer clearer, more accessible information for Aboriginal and Torres Strait Islander customers and to reduce the cultural load on staff.”
