Public services provider Serco Australia has committed a quarter of its annual insurance premium to QBE’s Premiums4Good program, which makes societal and environmental “impact” investments such as green bonds.

Earlier this year QBE and partner Marsh opened Premiums4Good to workers’ compensation customers.

Serco is the first to sign on, committing 25% of its premium to investments that relate to issues ranging from renewable energy to homelessness and recidivism, while still meeting risk-return objectives.

QBE plans to invest at least 100 million (local currency) of premium in the US, Britain and Australia this year, and to grow its impact investments to $US1 billion ($1.43 billion) by 2021.