Our world 2019
For three years, Serco Australia has partnered with QBE Insurance as part of our Workers Compensation which supports Serco employees who are injured at work. As part of updating our insurance agreement for a further two years, we were been able to align our insurance purchase more closely to our commitments to sustainability, community and the environment.
Now, instead of our insurance premium being invested in shares or bonds as it has traditionally been the case, through QBE’s Premiums4Good initiative, we have arranged to direct 25% of our premiums into investments that deliver social or environmental benefits, including Social Impact Bonds and Green Bonds.
Social Impact Bonds represent a growing investment opportunity that provide funding for initiatives with directly observable social benefits. Examples include reducing homelessness; improving chances for children in foster care; reducing childhood asthma; and improving school performance of children from ‘at risk’ households.
Green Bonds is an investment into projects with environmental benefits, such as renewable energy, waste management and water conservation.
With the Premiums4Good initiative, the investment is made directly into projects that deliver benefits to communities and the environment, rather than into general ethical or environmental funds.
CEO Mark Irwin said Serco was glad to participate in the Premiums4Good programme: “Throughout our 30 years of operation in Australia we have always worked hard to support the communities in which we operate and make a positive difference to people’s lives every day. Our commitment of 25% of our annual insurance premiums to socially-beneficial investments will provide positive support for a range of programmes that improve local Australian communities and the environment.”