Ping An actively practices the notion of sustainable development and has integrated climate change as a key topic in the Group's long-term development strategy. Specifically, the identification and managemant of climate-related financial risks are core to Ping An's response to climate change.

Ping An has pledged to achieve operational carbon neutrality by 2030 and will implement comprehensive polices to support the transformation to a green economy. For more information, please visit our Climate Risk Report (TCFD report).

Ping An is committed to low-carbon development, and carries out the commitment through green businesses and operations.

Green Businesses

Ping An endeavors to conduct our businesses in an environmentally neutral or positive manner. We continue to develop and promote innovative green products, including insurance, investment, and lending to increase the diversity, coverage, and accessibility of our offerings.

Green Operations

Ping An uses energy efficient renovations, environmentally friendly behaviors, smart technologies, and a paperless work environment to minimize direct negative impacts to the environment and reduce our carbon footprint. Our figures as of 31 December 2021:

Electricity and Water Consumption

The electricity consumption of own workplaces and leased workplaces reached 513,946,880 KWH, down 2.65% YoY. The use of mineral water in the workplace of Ping An Financial Center reduced by 808 boxes (19,392 bottles), a 61% drop in YoY.

Paper use intensity

The paper consumptions at Ping An's operation sites and workplaces reached 1,631 tonnes, down 75.89% YoY.

Carbon Emissions Reduction

The total carbon emissions including scope 1,2,3 reached 428,994.85 tonnes, down 19% YoY.

Green Building

In August 2021, the Shenzhen Ping An Financial Center, designed, built and operated by Ping An Real Estate, obtained LEEDv4.10+M:EB(Oerational and Maintenance: Existing Building) Platinmum Certification.

For more information, please refer to the "Green Technologies and Environment Protection Building."

Ping An takes environmental and social factors into insurance practice considerations, sets appropriate risk pricing, and continues to improve our sustainable insurance system.

As a responsible and diversified insurance company, Ping An is committed to integrate ESG concepts into our insurance businesses. This dedication is shown through und-erwriting risk management, namely setting proper risk pricing for insurance products and risk management of the insurer, and the sustainable insurance product system.

Underwriting Risk Management

Ping An continues to research and monitor global climate change risks such as climate warming and extreme weather disasters/ events, and social change risks such as demographic changes, aging population, and high incidence of disease. Ping an manages and avoids risks in the underwriting process, integrats ESG risks within the Group's investment risk management system to achieve reasonable ESG risk pricing of insurance products.

Sustainable Insurance Product System

ESG related risks will encourage natural and market driven needs of developing new insurance products. For example, the increasing probability and frequency of extreme weather conditions and natural disasters bring a huge market for catastrophe insurance, and the change of population structure due to urbanization and aging also present a potential opportunity for developing insurance products for specifics groups of people. In addition, Ping An is also keen on developing inclusive financing insurance products for the less fortunate groups in need of risk coverage.

Ping An actively carries out joint research with peers and industry partners to continuously improve the diversity and professionalism of Ping An green insurance and inclusive insurance product offerings.

Ping An has developed a unique sustainable insurance product system that not only promotes the company’s own economic growth, but also serves the customers while benefiting the environment and the society.

For more details, please refer to the “Ping An Group Sustainable Insurance Policy”.

Ping An incorporates responsible investment concepts into all investment activities to promote ESG integration in business development for stable return.

Ping An adheres to UNPRI’s ESG investment standards and relevant guidelines of domestic regulatory agencies, establish responsible investments through organizational structure and policy, investment strategy, applications and communication and promote the integration and development of ESG investments within Ping An.

Ping An actively follows the initiative of national regulatory agencies, pursues the best practices in the industry, acts in accordance with UN’s principles of responsible investment, and integrates the principles of responsible investment into various investment activities.

Equities Fixed Income Other Equity Assets
ESG Integration
Active Ownership
Norm-based screening
Positive screening
Sustainability themed investing
Impact investing

Investment Applications

From the perspective of investment risk management, the Group has gradually integrated ESG risks within the Group's investment risk management system. Ping An analyzes risks from climate change and social risk perspectives, and sets clear risk criteria according to their industry or regional asset portfolios for risk assessment. Currently, Ping An has responded to the G20 Financial Stability Board’s (FSB) initiative: to implemente governance, strategy, risk assessment, and goal setting disclosures according to TFCD’s framework.

For more details, please refer to the “Ping An Group Responsible Investment Policy”.

Ping An adheres to the concept of bringing a positive impact to the society in product development and promotion and extends this responsibility onto the entire product lifecycle management.

Responsible Product Commitment

As an integrated financial service group, Ping An offers a wide range of products and services including insurance, banking, investment and technology. Ping An adheres to the principles of compliance, fairness, inclusiveness, and environmental protection during the life cycle of every product and service. Ping An does not engage in any products and services in violation of individual rights and freedom, or facilitate high emissions, high pollution, ecological destruction, or animals’ rights violations. We take no participation in monopoly, unfair competition, pyramid schemes, and terrorism; violations of applicable laws, regulations, or unethical conduct.

For more details, please refer to the “Ping An Group Responsible Products Statement”.

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