As Asbestech operate in a tightly regulated market place, the insurance premiums that come with that are a significant part of our operating costs.
Asbestech; with our underwriters QBE have signed up to an initiative called Premiums4Good where 25% of the premium paid is directly invested into projects which deliver benefit to communities and the environment rather than into general investments. Examples of these investments include Social Impact Bonds, Green Bonds or investments into social projects with social benefits. Social Impact Bonds represent a growing investment opportunity that provides funding for initiatives with directly observable social benefits. These 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 are investments into projects with environmental benefits such as renewable energy, waste management and water conservation.
Daniel Chalkley; Managing Director said ‘’Asbestech spends circa £200,000 per year on insuring the business and this initiative ensures that 25% of that spend is passed onto projects that matter to all of us and compliments well with our other corporate social responsibility activities’’.