(Hong Kong, Shanghai, July 13, 2023) – The World Bank announced the 15 founding members of the Private Sector Investment Lab. Leveraging on her professional expertise, leadership and successful experiences in business, technology and finance; Jessica Tan, Co-CEO of Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or the “Group”, HKEx:2318; SSE:601318) has been named the only founding member of the Lab from Chinese company.

The World Bank announced the establishment of the Private Sector Investment Lab last month, focusing on specific approaches that can be implemented and scaled to mobilize capital effectively, with the ultimate goal of crowding in greater levels of private finance, and making adequate progress towards climate goals, to manage the risks of climate change, and to tackle poverty.  This included ideas for improved financing structures, balancing and allocating risks across investors, and reimagine new partnerships. The Lab will begin work in the coming weeks, initially focusing on scaling transition finance in renewable energy and energy infrastructure.

Jessica Tan said, we are delighted and honored to join the World Bank Private Sector Investment Lab. At Ping An in our 35 years, we actively provide public welfare assistance and financial support for the rural revitalization and development of industries, education, and healthcare through our Community Support Program in China. Ping An continued to support green finance, financial inclusion and help communities manage climate related sustainability issues. We believe the private sector can make a tangible difference helping progress towards climate goals, manage the risks of climate change and tackle poverty.

Other core founding members of the Lab included Chief Executive Officers and Chairs from AXA, BlackRock, HSBC, Macquarie, Royal Philips, Standard Chartered and Temasek.

In the past 35 years, Ping An actively performed its corporate social responsibility, to give full play to its advantages of “integrated finance + healthcare”, to actively promote the “Rural Communities Support Program” and “bringing insurance, finance, and healthcare to rural areas”. As of the end of 2022, Ping An’s accumulated funds for poverty alleviation and industrial revitalization assistance reached RMB 77.15 billion. Meanwhile, Ping An also upheld its sustainability philosophy and advanced its green finance initiative. As of the end of March 2023, Ping An’s green investment and financing totaled RMB308.45 billion, green banking business totaled RMB 174.11 billion, and green insurance premium income amounted to approximately RMB 6.57 billion.