QBE Asia launches Premiums4Good initiative
Initiative is aligned with United Nations' Sustainable Development Goals
Investment drives a positive environmental and social impact
QBE Asia, part of the international division of the Sydney headquartered QBE Insurance Group, has launched Premiums4Good, a global initiative that invests everyday premiums to make a difference to communities across the globe.
Through Premiums4Good, a portion of customers' premiums are put into investments that create social and environmental impact alongside a financial return, at no extra cost to the customer.
The investments include projects that help the environment, such as renewable energy, waste management and water conservation, and others that deliver direct, sustainable benefits to communities such as helping the homeless or providing additional social care to adults and young people.
Premiums4Good is offered across QBE's operations in Australia Pacific, Asia, Europe and North America, with an investment portfolio spanning multiple asset classes, geographies and impact areas.
As of 31 December 2021, QBE has invested US$1.4 billion through Premiums4Good, with a goal to reach US$2 billion by 2025. To acknowledge the contributions its customers and partners can make, QBE issues a certificate of recognition for their Premiums4Good contributions.
Social impact
An example of a programme supported through Premiums4Good where participating customers' premiums are invested into is QBE's investment in the Asian Development Bank (ADB)'s Gender Thematic Bond, which brings gender equality support and women's empowerment to the fore.
Through targeted initiatives like this, communities have been able to improve social protection and health programmes, reduce poverty and better support the prevention of and response to gender-based violence.
This has also seen more tangible strategies to further women's entrepreneurship opportunities and to help them secure green and more financially stable jobs. As of July 2021, ADB has raised over US$2.9 billion through this programme.
“While we have taken steps as an enterprise to be better stewards of the environment, Premiums4Good takes it a step further and allows our customers to put their hand up and get involved in our collective effort to do better for the world - all without the need for them to put in additional resource or cost expenditures to do so," said Jason Hammond, CEO for QBE Asia.
This initiative is aligned with the United Nations' Sustainable Development Goals to support advancement of these global goals.
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