HONG KONG, April 28, 2023 /PRNewswire/ -- With the increasing trend of global climate change, low carbon emission reduction and public health and safety have become the focus of people's attention. The Chinese government has clearly stated in the 14th Five-Year Plan that it will adhere to the new development concept, construct a new development pattern and practically change the development mode in order to achieve the goals of peak carbon by 2030 and carbon neutrality by 2060. In the face of the opportunities and challenges, many listed companies are paying more attention to environmental, social and corporate governance (ESG) as a key factor for their long-term healthy development.
Recently, China Pacific Insurance (Group) Co., Ltd. ("CPIC", the "Company" or the "Group", Stock Code: 02601.HK, 601601.SH, CPIC.LSE) announced its 2022 Sustainability Report, which is a second of its kind after CPIC has released corporate social responsibility reports for 13 consecutive years. During the reporting period, focusing on sustainable development, a key point and a key theme for us, CPIC has carried out the regulatory and policy requirements for ESG affairs in a bid to improve the company's ESG performance, sharpen its sustainable development capabilities, bettered its accountability, leadership, motivation, collaboration and values for sustainable development, and wrote a new chapter of high-quality development in the new era. All these bring the company closer to the goal of becoming an all-new industry leader.
Promoting Regional Coordination in All Respects and Optimizing Sound Regional Development Mechanism
In 2022, CPIC took the initiative to carry out the important regional development strategies of the county by developing sound regional development systems and building new poles of growth in key regions. Thus, CPIC achieved significant results.
For the development of the Development of Guangdong, Hong Kong and Macao Greater Bay Area, CPIC made a 3-year Special Action Plan for the Development of Guangdong, Hong Kong and Macao Greater Bay Area and set up a special organization to facilitate the implementation of its Greater Bay Area strategy and key projects. More, CPIC made investments in key areas, promoted the integration of insurance products and services in Hong Kong and the mainland, and boosted regional integration via "insurance and tech". In addition, CPIC strengthened cooperation with strategic clients across the Greater Bay Area and added 22 new clients to its accounts, including China Electronics Corporation (CEC) and ZTE. Finally, CPIC propelled the innovation of products and services in the Greater Bay Area. By the end of 2022, CPIC has cumulatively invested more than RMB100 billion in this regard.
At the same time, to promote green integration of the Yangtze River delta area, CPIC implemented an "integrated claim settlement" system that allowed clients to conduct surveys, assess the loss and verify compensation in other places than where they purchased its policies. Further, CPIC cooperated with Jinze Town and Zhujiajiao Town in all aspects of green insurance and launched an environmental pollution liability insurance. By the end of 2022, CPIC has served 1,314 medium-to-small-sized tech businesses and caused RMB 7.325 billion of loans to be released to them. In collaboration with Guotai Junan Securities, SPD Bank, and Bank of Shanghai, among others, CPIC released the comprehensive service brand Bao Zheng Yin for high-end clients, creating a new signature brand in terms of the regionwide integration of financial services.
In addition, CPIC promoted coordinated development of the Beijing-Tianjin-Hebei area, and improved the quality of its integrated services. Also, CPIC led the industry's efforts to revise and issue integrated claim settlement policies for motor vehicle insurance products in Beijing, Tianjin and Hebei Province. Moreover, CPIC provided RMB 30.129 billion worth of risk insurance to help construct a comprehensive transportation system across the Beijing-Tianjin-Hebei area. CPIC also underwrote insurance for the construction of Xiong'an New Area Hospital (Xuanwu Hospital), the headquarters building of China Satellite Network Group Co., Ltd. and so on, assisting Hebei Province in receiving the industries relocated from Beijing or Tianjin.
Actively Conducting Public Welfare Activities to Practice Social Responsibility of Enterprise
CPIC always keeps the social responsibility of enterprise in mind. From the very beginning of its existence, CPIC has been collaborating with all walks of life. For public welfare, CPIC donated generously to charities, thus creating a rich array of charitable brands, including CPIC Green, CPIC Blue, and CPIC Red. In 2022 alone, CPIC donated a total of RMB 50.08 million for public welfare purposes.
In 2021, CPIC Blue Foundation initiated a large-scale, three-year public welfare project with the theme of "protecting the memory of us all". Over two years, the foundation has completed the first-time screening of cognitive disorder for 50,766 people and the second-time screening for 1,503 people. Apart from that, it has built the first "CPIC Blue brain health promotion classroom" and trained 500 people who could serve people with cognitive disorder. In addition, it has set up "CPIC Blue volunteer service stations", where 438 volunteers have thus far provided more than 1,485 hours of services on a cumulative basis. The project also supported Shanghai Mental Health Center to develop the country's first VR video on cognitive disorder, release a white paper on early screening of the disease, compile the first scenario-based cognitive disorder nursing textbook in China, and issue e-maps for cognitive impairment, etc.
CPIC Blue Foundation donated RMB 2 million to create a fund Xing An Xin dedicated to children living with autism. The fund provided autistic children with screening, assessment and rehabilitation services, which were premium medical resources otherwise unavailable to them. In "Responsibility Brings a Bright Future" volunteer teaching, CPIC has conducted two livestreaming activities with the theme that "I have a promise to keep with the Asian Games". The activities reached more than 2,000 students from 37 Hope Schools. CPIC also donated teaching materials to the hope schools in Gonghe County, Qinghai Province. For 27 years running, CPIC gave Shanghai Children's Home money to build living facilities.
With the mission of serving the country, the people and the society at large, CPIC dedicated itself to public welfare, which was the basis on which CPIC strives for sustainable development and commitment to responsibility. CPIC has made outstanding contributions to China's public welfare by practicing its corporate social responsibility through practical actions.
Through years of practice and efforts, CPIC has become an outstanding enterprise with a strong sense of social responsibility, innovative spirit and strong brand impact. With the vision of "leading sound and stable development of the industry", CPIC will continue to explore new development path along sustainable development in the future, fulfill its corporate responsibilities and commitment and create greater value for customers and society.
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