Medibank has detailed its Net Zero Pathway, focusing on reducing Scope 1 and Scope 2 emissions and increasing renewable energy procurement, aiming for absolute Net Zero by 2050. The company has outlined a series of actions to achieve its target, including a 70% reduction in Scope 2 emissions across the Group compared to a 2025 baseline and a 15% reduction in Scope 1 emissions during the year, largely resulting from the transition to a hybrid fleet.
Material actions and disclosures
Medibank has committed to maintaining net zero across Scope 1 and Scope 2 emissions and plans to reduce Scope 6 (business travel) emissions by 80% compared to FY25 baseline. The company also aims to increase renewable electricity procurement through GreenPower® to 86% of sites by year-end. Additionally, Medibank intends to offset residual Scope 1 and Scope 2 GHG emissions with a minimum reliance on offsets (<10% target).
Myhealth’s emissions increased by 25% due to growth in operational footprint, including an increase in occupied floor area across the clinic network and associated electricity consumption. The company’s emissions boundary established for Myhealth did not identify any quantified Scope 1 emission sources.
Forward commitments
Medibank plans to continue exploring and improving virtual and personalised models of care, which are intended to benefit patients and customers. The company also aims to invest in mental health research to support its Net Zero opportunity.
Medibank’s Net Zero Pathway is informed by the goals of the Paris Agreement and the Global Road Map for Health Care Decarbonisation, published by Health Care Without Harm in April 2021.
These actions and commitments are part of Medibank’s broader strategy to align with climate policy and support customer and employee retention.