Businesses are taking significant steps to reduce their climate impact. QBE is carbon-neutral and has set targets to reduce carbon emissions across our global operations. We have joined some of the world's most influential companies in the RE100 initiative, committing to source 100 per cent renewable electricity for our operations by 2025 and to support the transition to a low-carbon economy.
We have committed to phase out all direct insurance services for thermal coal customers by 2030, at the latest. We have zero direct investments in the thermal coal industry, while maintaining a margin of up to 0.5 per cent of total funds under management through indirect investments.
Through our Premiums4Good programme, we also offer customers the option to invest part of their premiums in securities that deliver positive social and environmental outcomes and have a goal to grow this investment to US$1billion by 2021.