HONG KONG and SHANGHAI, Sept. 25, 2019 /PRNewswire/ — Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEX: 2318; SSE: 601318) has been selected for the 2019 Dow Jones Sustainability Emerging Markets Index (DJSI) for the first time. Ping An is the first insurance company from mainland China to be selected in the Emerging Markets Index.
The latest review of the DJSI was officially released on 23 September. DJSI, launched in 1999, was the first index to track the sustainability of global listed companies. It is widely respected in the capital market and is a leading sustainability index for large international institutional investors. This year, only two companies from mainland China were selected for the DJSI.
Ping An actively practices corporate social responsibility and has established an environmental, social and governance (ESG) management system that takes into account both overseas and Chinese standards. It has been recognized by the world’s most authoritative rating agencies. Last month, Ping An became a signatory of the United Nations-supported Principles for Responsible Investment (PRI), the first asset owner in China to join.
Richard Sheng, Board Secretary and Brand Director of Ping An, said: “Ping An aims to achieve mutual sustainable development with all of its stakeholders. We want to be a force for good for sustainable development in China and other parts of the world.”
Setting Domestic and International ESG Benchmarks
Ping An’s ESG policy covers core issues such as a business code of conduct, corporate governance, responsible investment, sustainable insurance, information security, artificial intelligence (AI) governance, sustainable supply chain and the United Nations Sustainable Development Goals.
In the first half of 2019, Ping An’s scale of responsible investment exceeded RMB1 trillion. Ping An is also empowering ESG management with its advantages in technologies. It built the first AI-ESG platform, leveraging on AI technology to significantly improve management efficiency.
The Group’s sustainable development achievements have been recognized by international authorities. In addition to being included in the DJSI and a signatory to the PRI, Ping An is the second largest constituent in the HSCEI ESG Index. Hang Seng’s sustainability assessment of Ping An is A+, which ranks top among the A+H-listed companies.
Promoting Sustainable Development
Ping An is guided by the philosophy that “Expertise Creates Value” and its “finance + technology” strategy, partnering with stakeholders to promote a green environment, a harmonious society, and a sustainable economy.
As of June 30, 2019, Ping An Bank granted green credit lines of RMB62.404 billion and the balance of loans reached RMB26.069 billion. The balance of social inclusive loans was RMB357.875 billion. Lufax Holding provided inclusive credit services for 564,900 customers by granting RMB133.207 billion in loans, with a balance of RMB221.263 billion. In rural areas, Ping An granted RMB15.758 billion in loans to 126,500 customers.
In addition to the investment business, Ping An established its Sustainable Insurance System. Ping An considers climate change and social factors in the development and design stages of its insurance products and conducts ESG risk assessments for effective risk pricing.
Ping An’s is also active in community development through its “Ping An Rural Communities Support” programs, launched in 2018 to support China’s strategy of fighting poverty. It includes the “Village Officer Program”, “Village Doctor Program” and “Village Teacher Program” for smart poverty alleviation via industry promotion, health care and education support. As of June 30, 2019, the Group implemented the programs in 13 provinces or autonomous regions across China. The Group donated RMB10.373 billion for poverty alleviation, built or upgraded 622 rural clinics and 607 rural schools, and trained 6,926 village doctors and 5,898 village teachers.
SOURCE Ping An Insurance Group Ltd.