Zurich Insurance Group AG (ZURN.EB) said Thursday that it plans to expand its impact investing portfolio commitment to $5 billion, more than doubling its original target of $2 billion.
The Swiss company said it would expand its impact investments, which it defines as profitable investments that can have a social or environmental impact.
The asset classes the company wants to invest in include green bonds--which fund projects aimed at mitigating the effects of climate change or help communities facing such effects--and social and sustainability bonds aimed at tackling other social issues.
Earlier this year, Zurich said it had achieved its target of investing $2 billion in green bonds.
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(END) Dow Jones Newswires
November 23, 2017 04:57 ET (09:57 GMT)