Ping An Insurance Group's Green Initiatives for 2024
Ping An Insurance's Commitment to Sustainability
Ping An Insurance (Group) Company of China, Ltd. (HKEX: 2318; SSE: 601318) has made significant strides in sustainability, as highlighted in its 2024 Sustainability Report. This year marks the 16th consecutive edition of this important report, reflecting the company's unwavering commitment to social responsibility and eco-friendly practices. The report focuses on two major themes: 'Public Welfare Education' and services that encapsulate the idea of being 'Worry-free, Time-saving, and Money-saving.'
Celebrating 30 Years of Public Welfare Education
In 2024, Ping An proudly celebrates the 30th anniversary of its public welfare education initiative, which began in 1994 with the establishment of the first Ping An Hope Primary School. The initiative has transformed countless lives by providing essential educational resources, teacher training, and scholarships.
Key Accomplishments in Education
This year, Ping An renovated 22 rural schools and donated sports facilities to enhance the student experience further. The effort involved organizing 987 volunteers who contributed an impressive 6,767 teaching hours across 74 schools. Additionally, their scholarships supported 1,065 students, with 65 achieving their university aspirations. Overall, the program has built 119 Ping An Hope Primary Schools and recruited over 12,700 volunteers, collectively supporting 310,000 students through training and educational initiatives.
Transforming Financial Services
Under the second theme, Ping An emphasizes the evolution of its service offerings, guided by customer feedback. Since its inception 36 years ago, the company has expanded its operations into a leading provider of integrated finance, health, and senior care services, adapting to the changing needs of its 242 million retail customers.
Innovative Financial Solutions
In 2024, the company launched its Customer Listening Day to align their services with customer requirements actively. Through an integrated financial model, Ping An delivers tailored services across wealth management, insurance, and senior care, ensuring ease of access and a personalized experience for its clients.
Pioneering Sustainable Development Practices
Ping An's approach to sustainability is evident in their commitment to reducing carbon emissions and promoting green finance. The company has rolled out green insurance products and increased the scale of green investment, significantly combating climate change.
Green Finance Initiatives
With a year-on-year increase of nearly 57%, Ping An's green insurance premium income reached RMB 58.6 billion in 2024. The organization provided low-carbon financial solutions, contributing to projects that support industrial upgrades. Through these efforts, Ping An is actively helping to drive the low-carbon transition across various sectors.
Community and Consumer Focus
Ping An has made remarkable progress in community outreach and consumer welfare. Its ongoing support for the elderly has led to enhancements in the service environment, including provisions for better accessibility.
Enhancing Client Experience
Targeting elderly clients, Ping An has implemented an aging-friendly service model that features access to rest areas, mobility aids, and easy-to-use technology. This model not only fosters inclusivity but also addresses the digital divide, enabling senior customers to navigate services with ease.
A Commitment to Employee Welfare
Ping An recognizes that its employees are its most valuable asset. The organization has invested heavily in staff development and satisfaction, which has soared over two consecutive years.
Focus on Training and Development
With over 51% of its workforce being female, Ping An is dedicated to promoting equality and career advancement. Their investment in training amounted to RMB 956 million in 2024, providing an average of 49 hours of training per employee.
Future Initiatives and Continued Commitment
Looking forward, Ping An aims to deepen its sustainability strategy by continuing to leverage technology to improve the quality of its services. By offering comprehensive financial, health, and senior care services, the company is poised to create long-lasting value for its clients and the communities it serves.
Frequently Asked Questions
What is Ping An's primary focus for 2024?
In 2024, Ping An's focus is on enhancing its sustainability and community welfare initiatives while transforming financial services based on customer feedback.
How has Ping An contributed to education?
Ping An has renovated schools, organized volunteer teaching, and provided scholarships to thousands of students, profoundly impacting rural education.
What is Ping An's approach to green finance?
Ping An promotes green finance through insurance products and investments aimed at supporting low-carbon projects and sustainable industry transformations.
How does Ping An support senior citizens?
Ping An has developed an aging-friendly service model that includes accessible service environments and customer service hotlines tailored for the elderly population.
What initiatives are in place for employee development?
Ping An invests in employee training and satisfaction initiatives, seeing significant improvements in workforce satisfaction through robust development programs.
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