QBE North America Increases Support for Blue Forest

Rhea-AI Summary

QBE North America has extended its support for Blue Forest, a conservation finance nonprofit, through November 15, 2024. The QBE Possibilities Fund will match donations up to $200,000 for philanthropic impact investments of at least $100 directed to Blue Forest's FRB Catalyst Facility via the CataCap platform. This initiative aims to promote climate resilience, racial equity, and gender equality.

The challenge grant is open to the public and QBE employees, introducing CataCap's capability to a broader audience. Philanthropic impact investing allows donors to generate social or environmental benefits alongside financial returns. Investment returns can be reinvested or granted to nonprofits. QBE Foundation has supported Blue Forest since 2022 with grants and philanthropic impact investments, aligning with QBE's purpose of enabling a more resilient future.

Positive

• QBE North America extends support for Blue Forest, a conservation finance nonprofit
• QBE Possibilities Fund to match donations up to $200,000 for Blue Forest's FRB Catalyst Facility
• Initiative promotes climate resilience, racial equity, and gender equality
• Challenge grant open to public and employees, potentially attracting new donors

Negative

• None.

QBE Possibilities Fund extends challenge grant for philanthropic impact investments supporting Blue Forest

NEW YORK, Sept. 9, 2024 /PRNewswire/ -- QBE North America has extended its support of Blue Forest, a conservation finance nonprofit dedicated to bringing communities, finance and science together to restore and protect our forests and watersheds and prevent catastrophic wildfires. Through November 15, 2024, the QBE Possibilities Fund will match dollar for dollar, up to $200,000, any general public or employee philanthropic impact investment of at least $100 directed to Blue Forest's FRB Catalyst Facility, via the CataCap platform held at ImpactAssets.

The QBE Possibilities Fund launched this first-of-its-kind initiative in the US to give employees a vehicle to participate in philanthropic impact investments in three main areas: climate resilience, racial equity and gender equality. Philanthropic impact investing refers to the utilization of a donor-advised fund to direct donations to companies, organizations and funds with the intention of generating beneficial social or environmental impact as well as a financial return. Over time, any investment returns flow back to donors' CataCap accounts, which can then be further allocated towards new philanthropic investments or granted out to a nonprofit.

By extending this challenge grant to the public, QBE seeks to introduce CataCap's capability to a broader audience and attract new donors interested in philanthropic impact investing to reduce the risk of catastrophic wildfires, while also maintaining the potential to recycle these funds towards future philanthropic impact investments.

The QBE Foundation has supported Blue Forest since 2022 with a mixture of grants and philanthropic impact investments made through the QBE Foundation and QBE Possibilities Fund.

"QBE is proud to be a long-standing supporter of Blue Forest," Mark Pasko, QBE North America's Chief Legal Officer. "QBE's purpose is to enable a more resilient future and that includes supporting organizations like Blue Forest that work to build social, environmental and economic resilience in our communities."

About QBE North America

QBE North America is a global insurance leader helping customers solve unique risks, so they can stay focused on their future. Part of QBE Insurance Group Limited, QBE North America reported Gross Written Premiums in 2023 of $7.6 billion. QBE Insurance Group's results can be found at qbe.com. Headquartered in Sydney, Australia, QBE operates out of 27 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business primarily through its insurance company subsidiaries. The actual terms and conditions of any insurance coverage are subject to the language of the policies as issued. Additional information can be found at qbe.com/us or follow QBE North America on LinkedIn, Facebook and Instagram. 

About Blue Forest

Blue Forest is a conservation finance non-profit focused on advancing forest restoration through scientific research, financial innovation, and collaborative partnerships. Since 2018, Blue Forest has managed investor capital through its flagship financial product, the Forest Resilience Bond (FRB), which deploys private capital to finance forest restoration projects on private and public lands to reduce the risk of catastrophic wildfire. For more information or to get involved, visit blueforest.org.

View original content to download multimedia:https://www.prnewswire.com/news-releases/qbe-north-america-increases-support-for-blue-forest-302242145.html

SOURCE QBE North America

FAQ

What is QBE North America's latest initiative with Blue Forest?

QBE North America has extended a challenge grant through November 15, 2024, where the QBE Possibilities Fund will match donations up to $200,000 for philanthropic impact investments of at least $100 directed to Blue Forest's FRB Catalyst Facility.

How does the QBE Possibilities Fund support philanthropic impact investing?

The QBE Possibilities Fund provides a vehicle for employees and the public to participate in philanthropic impact investments focusing on climate resilience, racial equity, and gender equality. It matches donations and allows investment returns to be reinvested or granted to nonprofits.

What is the purpose of QBE's partnership with Blue Forest?

QBE's partnership with Blue Forest aims to support conservation efforts, restore and protect forests and watersheds, and prevent catastrophic wildfires. This aligns with QBE's purpose of enabling a more resilient future by building social, environmental, and economic resilience in communities.

How long has QBE been supporting Blue Forest?

QBE Foundation has been supporting Blue Forest since 2022 with a combination of grants and philanthropic impact investments made through the QBE Foundation and QBE Possibilities Fund.