HONG KONG and SHANGHAI, February 8, 2022 /PRNewswire/ — Ping An Insurance Company (Group) of Chinaltd. (hereafter “Ping Anor the “Group”, HKEx: 2318; SSE: 601318) is featured in the S&P Global Sustainability Yearbook 2022 for its commitment to advancing sustainability.
Each year, S&P publishes the Global Sustainability Yearbook, the world’s most comprehensive publication of its kind, based on information collected through the S&P Global Corporate Sustainability Assessment (CSA). The CSA is an annual assessment of companies’ sustainable development practices. It’s the second time Ping An was recognized in the Yearbook. To be listed in the book, companies must be in the top 15% of their industry and must achieve an S&P Global ESG (environmental, social and corporate governance) score of less than 30% of the company’s highest. more efficient in their sector. In 2021, the CSA assessed more than 7,500 companies, collecting 13.4 million data points across 61 sectors. Only 716 top-scoring international companies were included in the 2022 directory, including five companies from mainland China.
S&P Global said the time and effort Ping An invests to address the world’s greatest sustainability challenges sets the company apart from its industry peers.
Driven by its sustainability strategy, Ping An has incorporated core ESG philosophies and standards into its corporate governance and management framework. It has established a scientific and professional sustainability management framework to guide its business practices.
In terms of environmental impact, Ping An released their second Climate Risk Management Report in 2021 in accordance with the framework recommended by the Task Force on Climate-Related Financial Disclosures (TCFD). The report highlighted the innovation and standardization of its climate risk governance model. Ping An also upgraded its Green Finance initiative by April 2021committing the Group to focus on green insurance, investment, credit, operations and charitable initiatives to support the green transformation of society and sustainable development. Ping An has set targets for 2025 for investment and credit of 400 billion RMB and the total green insurance premiums of 250 billion RMB by 2025. The Group is also working on operational carbon neutrality by 2030.
Ping An has adopted the best global governance practices. The Group has implemented a distinctive “251” risk management system to prevent and resolve major financial risks: 2 refers to the management and control system for the double risk matrix of the group and the subsidiaries; 5 refers to information security risk, asset quality risk, liquidity risk, operational compliance risk and brand reputation risk; and 1 refers to a collaborative risk management and control platform of unified standards and requirements for the Group’s overall risk governance structure, management system and information systems.
In terms of social responsibility, Ping An continues to advance the program to support rural communities in Ping An. Since the launch of the program in 2018, Pingan provided 41.85 billion RMB for the reduction of poverty and the revitalization of industry. In 2021, Ping An provided 12.016 billion RMB in industrial poverty funds.
Pingan said it was a great honor to be included in the S&P Global Sustainability Yearbook 2022. Going forward, the Group will adhere to its sustainability philosophy and continue to integrate ESG into business development in order to improve risk management and achieve stable business growth to create long-term value for investors.
About Ping An Group
Ping An Insurance Company (Group) Chinaltd. (“Ping An“) is a technology-driven global retail financial services group. With more than 225 million retail customers and nearly 634 million internet users, Ping An is one of the largest financial services companies in the world. Pingan focuses on two main business areas, “pan financial assets” and “pan health care”, covering the provision of financial and healthcare services through our integrated financial services platform and ecosystems in financial services, healthcare healthcare, automotive services and smart city services. Our “finance + technology” and “finance + ecosystem” transformation strategies aim to provide customers and Internet users with innovative and simple products and services using technology. The Group is committed to becoming the world leader in integrated financing and health services. Like China first stock insurance company, Pingan is committed to the highest standards of corporate reporting and corporate governance. The Group is listed on the stock exchange in hong kong and Shanghai. Pingan ranked 6th in the Forbes Global 2000 list in 2021 and ranked 16th in the Fortune Global 500 list in 2021. Pingan also ranked 49th at WPP Kantar Millward Brown BrandZ 2021MT List of the 100 most valuable global brands.
SOURCE Ping An Insurance Company (Group) of Chinaltd.