HONG KONG and SHANGHAI, Oct. 13, 2023 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 2318 / 82318; SSE: 601318) is pleased to announce it has won the "Outstanding ESG Performance of H-share Companies Awards" and received the Certificate of Merit of the "Theme Award" at the BDO ESG Awards 2023. The recognition is testament to Ping An's outstanding performance in environmental, social and governance ("ESG") practices and performance.
BDO is one of the world's top five largest accountancy networks. The BDO ESG Awards started in 2018 in Hong Kong to promote corporates' social responsibility to integrate sustainability into business models. It honours the companies that have outstanding performance and made positive impact in the areas of ESG.
With its robust sustainability strategy, Ping An has incorporated core philosophies and standards of ESG into its corporate management. It has created a rational, professional sustainability management framework for its business practices. In its 2022 Sustainability Report, Ping An unveiled its strategic roadmap to achieve carbon neutrality in its operations by 2030. The blueprint for reducing carbon emissions is a judicious blend of internal efforts and external support, positioned towards promoting green operations. The Ping An is committed to achieving carbon neutrality by 2030 through a combination of energy conservation and clean energy transition measures. In 2022, the Group reported a 24% decrease in greenhouse gas emissions in its workplaces compared to the previous year, recording approximately 326,670 tons of CO2 equivalent. Ping An also showed a commitment to advancing green buildings: a total of 19 projects obtained green building certifications in 2022.
Ping An continues to develop green finance, promoting the development of businesses such as green credit, green insurance and green investments. As of the end of June 2023, Ping An's responsible investment of insurance funds reached RMB843,930 million, green investment of insurance fund totaled RMB140,929 million, and green loan balance reached RMB134,926 million. Ping An had 6,477 sustainable insurance products as of June 30, 2023. Green insurance premium income amounted to RMB17,735 million in the first half of 2023.
On the social development front, Ping An has been supporting China's rural revitalization strategy via its Rural Communities Support programs since 2018 by promoting industries, healthcare, and education. As of the end of June 2023, Ping An Rural Communities Support provided RMB96,060 million for poverty alleviation and industrial revitalization. The Group contributed to the construction of 119 Hope Primary Schools and provided training for more than 14,000 rural teachers, benefiting over 310,000 rural students.
Ping An was the first asset owner signatory from China to United Nations Principles for Responsible Investment (UNPRI), Climate Action 100+, and Green Investment Principles (GIP) for the Belt and Road Initiative. In addition, Ping An was the first company in China to sign the Principles for Sustainable Insurance (PSI), established by the United Nations Environment Programme Finance Initiative (UNEP FI). As of June 30, 2023, Ping An was rated A in MSCI ESG Ratings, ranking the first in multi-line insurance & brokerage industry in Asia-Pacific. It was also rated as low ESG Risk Rating by Sustainalytics, the best rating among insurers in China, and was recognized in the top 1% of S&P Global ESG Scores in the S&P's Sustainability Yearbook 2023 (China Edition) - the highest among insurance companies in China (including Hong Kong and Macau).
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