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QBE Insurance Group Limited

PRI reporting framework 2018

You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 09. Collaborative organisations / initiatives

New selection options have been added to this indicator. Please review your prefilled responses carefully.

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Consistent with our commitment to responsible investment, throughout the year, QBE representatives attended a number of PRI seminars and events on responsible investment, including those related to TCFD, alongside other industry initiatives outlined.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

In 2017, QBE issued $300 million in fixed-rate senior notes under a new QBE Green Bond Framework – the first green bond to be issued by a global insurance company. The proceeds were materially invested in areas such as renewable energy, low-carbon transportation, sustainable forestry, water efficiency, waste management and pollution control. The QBE Green Bond Framework aligns with the Green Bond Principles.

 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Just as QBE helps customers to manage their risks, we apply a similar approach to managing our risks and sustainability challenges as a business. This is consistent with our membership of the UNEP FI and being a PSI signatory, where we seek to embed awareness of sustainability issues into our decision making. In addition, QBE works with employees, clients and business partners to raise awareness of ESG and sustainability issues, manage risks and develop solutions.

Throughout the year, QBE representatives attended and spoke at business roundtables, seminars and events on sustainability topics, including impact investing, diversity, climate change, sustainable communities, human rights and sustainable finance. Examples include:  In November 2017, PSI and Munich Re held the inaugural PSI event in the US. As a PSI signatory, QBE employees attended the event which focused on the North American sustainable insurance agenda including action around building resilient and sustainable communities and economies. Following the two-day conference, we are exploring opportunities to contribute to coastal resiliency and helping communities to plan for the impacts of climate change.

For more information refer to QBE Sustainability Report : www.qbe.com

          Responsible Investment Association Australasia (RIAA)
        

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

In 2017 QBE joined the Responsible Investment Industry Australasia (RIAA), hosted a panel for the Impact Investment Forum, and participated in the RIAA Conference (Australia), along with a number of other responsible investment industry forums and information sharing platforms. QBE is participates on the RIAA Impact Investment Forum committee.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

For more information refer to QBE Sustainability Report : www.qbe.com

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

          ClimateWise
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

QBE participates in ClimateWise initiatives. In 2017, ClimateWise – an industry leadership platform facilitated by the Cambridge Institute for Sustainability Leadership (CISL), of which QBE is a member – used QBE’s Premiums4Good initiative as a case study and example of responsible investment approach, aligned with ClimateWise's wider agenda.

          Women's Empowerment Principles (WEPs)
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

QBE signed on to the Women's Empowerment Principles in 2017, an initiative of UN Women and UN Global Compact.

In 2017, QBE investigated how we could introduce a new debt product that incorporates gender equality, a strategic focus area for QBE.

QBE signed up to the Women’s Empowerment Principles (WEPs) and established a new QBE Gender Equality Bond Framework (a social bond), which imposes criteria for how QBE can invest any capital raised. An issuer must be a signatory to the WEPs and included in the Equileap Gender Equality Report Top 200 Companies for 2017. In November, we launched the world’s first Gender Equality Additional Tier 1 bond transaction, raising $400 million.

          Impact Management Project
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]


SG 09.2. Assets managed by PRI signatories (Private)


SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          Training related to internal QBE peers
        

Frequency of contribution

Description

          QBE is an anchor partner of Impact Investing Australia which conducts research, advocacy, field-building efforts to encourage development of impact investing in Australia and globally.
        

Frequency of contribution

Description

          QBE representatives have spoken at a number of responsible investment forums and conferences.
        

Frequency of contribution

Description

          QBE encourages adoption of the PRI and responsible investment in general through our public promotion of responsible investment (refer to the QBE Sustainability Report); secondly, the Premiums4Good initiative, which encompasses ESG and impact investment, and communication about the investments; and thirdly, as an issuer, QBE's Green Bond and Gender Equality (Social Bond) Issuance, among other initiatives.
        

Frequency of contribution

Description

          QBE representative contributes on the board of the Impact Investment Forum, a committee of Responsible Investment Association Australasia.
        

Frequency of contribution

specify description

          Issuance of the first Green Bond by an insurer, and Gender Equality Bond.
        

Description

          Consistent with our commitment to PRI and a UN PSI signatory, QBE issued a Green Bond and a Gender Equality Bond (Social Bond) in 2017.
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

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SG 11. Dialogue with public policy makers or standard setters (Private)


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