Ping An Insurance Shines in Sustainability with ESG Leadership
Ping An's Recognition in S&P Global's Sustainability Yearbook
Ping An Insurance (Group) Company of China, Ltd. (HKEX: 2318; SSE: 601318) has achieved a remarkable milestone by being featured in S&P Global's Sustainability Yearbook (China Edition) for 2025. This prestigious recognition highlights the Group's commitment to exceptional performance in Environmental, Social, and Governance (ESG) initiatives and sustainable development. Notably, Ping An stands out as the only insurance provider from Mainland China to earn this accolade.
Evaluation Criteria and Industry Standing
This year, S&P Global evaluated 1,662 companies across 60 industries and selected only 164 high-performing firms for inclusion in their yearbook. For companies within the insurance sector, the assessment criteria included several vital factors. These include Environmental practices (18%), with a focus on climate strategy; Social factors (33%), emphasizing financial inclusion; and Governance & Economic considerations (49%), which cover corporate ethics, governance practices, and risk management. Ping An’s inclusion reaffirms its leadership role in advancing sustainability within the industry.
Environmental Contributions and Initiatives
Ping An's focus on environmental sustainability drives its operations. The company has committed to green development and low-carbon transition by offering various financial services, including insurance, credit, and investments. In recent analyses, it reported substantial achievements in its green initiatives: green insurance premium income escalated to RMB58.6 billion in 2024, marking a whopping 57% growth from the previous year. Its green loan balances reached RMB157.8 billion, with a year-on-year growth of 13%, while green investments of the insurance funds totaled RMB124.7 billion. The Group has also proactively addressed climate change by assessing risks, conducting scenario analyses, and launching adaptive plans. impressively, operational greenhouse gas emissions were lowered by 8% year-on-year in 2024, and substantial investments in renewable energy have allowed the avoidance of approximately 6,800 tonnes of carbon emissions.
Social Contributions and Community Support
In terms of social responsibility, Ping An is deeply committed to community welfare. In 2024, the company celebrated its 30th anniversary of dedication to public welfare and education. It has successfully supported the establishment of 119 Ping An Hope Primary Schools across the nation. Additionally, over 12,700 volunteer teachers logged an impressive total of 443,000 volunteer hours in teaching, coupled with a range of educational scholarships benefiting over 31,300 students. In its pursuit of inclusive finance, Ping An Property & Casualty (P&C) provided risk protection for more than 2.4 million small and micro enterprises, processing over 900,000 claims worth nearly RMB4 billion. Furthermore, Ping An Bank extended its support to 782,000 small and micro enterprises through inclusive lending practices, while nearly 260,000 debit cards were issued to help rural residents cultivate financial stability.
Governance and Corporate Practices
Governance at Ping An adheres to best practices globally, prioritizing independence and professionalism within its Board of Directors. The company ensures its board members receive continual education and training on critical aspects like risk management, digital innovations, information security, and climate strategies to bolster its risk management frameworks. Additionally, Ping An places a great emphasis on business ethics, realizing more than 6,000 campaigns supporting integrity culture and anti-corruption initiatives in 2024. In the realm of sustainable finance, sustainable insurance premiums were reported at RMB629.3 billion, an increase of 13% from the prior year. The responsible banking segment also reached RMB1.2 trillion, illustrating a compound annual growth rate of 4.5% over the past three years. Furthermore, the company’s total responsible investments of insurance funds amounted to an impressive RMB849.9 billion, advancing by 17% from the beginning of the year.
Pursuing Sustainable Development
Ping An emphasizes that its ongoing recognition in S&P Global's Sustainability Yearbook signifies its unwavering dedication to long-term sustainable development strategies. Looking towards the future, Ping An remains committed to harnessing technology-driven approaches, integrating finance with health and senior care. This approach aims to enhance service offerings and management proficiency while continually delivering sustainable value for customers, shareholders, employees, and society as a whole.
Frequently Asked Questions
What is the significance of Ping An's recognition in S&P Global's Yearbook?
This recognition underscores Ping An's commitment to sustainability and leadership in ESG practices within the insurance industry.
How does Ping An contribute to environmental sustainability?
Ping An supports green development initiatives, offering green loans and investments, and reducing greenhouse gas emissions significantly.
What social initiatives does Ping An undertake?
Ping An invests in public welfare education, establishing primary schools, and providing extensive support to small businesses and rural communities.
How does Ping An ensure sound governance practices?
Ping An emphasizes independence, professionalism, and continuous training for board members on vital governance issues.
What are Ping An's future sustainability intentions?
Ping An aims to deepen its integrated finance approach and continue enhancing value creation for stakeholders.
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