Domani Sustainability Consulting, an executive management consultancy, and Garnet Captive Insurance Services are creating what they say is the first captive insurance program designed exclusively for companies that are committed to sustainable business practices.

Called ‘GREEN,’ Domani says the program is expected to significantly reduce insurance premiums for its member companies.

GREEN will offer workers’ compensation, general liability, and automotive liability insurance policies to qualified companies with combined premiums in excess of $250,000. The program is expected to be operational in the second half of 2007.

Companies that apply for membership to GREEN will be evaluated based on factors such as risk profile, commitment to sustainability, and business needs. Membership will be considered for companies that, for example, purchase or generate energy from renewable sources, implement energy efficiency best practices, and set targets for reducing environmental impacts.

Membership in organizations such as CERES, Business for Social Responsibility, the Chicago Climate Exchange and the EPA’s Climate Leaders, will also be considered.