(Hong Kong, Shanghai, 9 June 2020) Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEx:2318; SSE:601318) is pleased to announce that it has been named ESG Investor of the Year for Insurers, China at The Triple A Sustainable Investing Awards for Institutional Investor, ETF, and Asset Servicing Providers. This is the second year in a row that Ping An has received this award from international professional financial magazine, The Asset. In addition, the “Ping An Group Low Carbon Business and Operation Policy” was also recognized by The Asset, earning the prestigious Editors' Triple Star.
The Triple A series of awards of The Asset magazine have been held for more than 20 years, and is widely recognized by the industry. The Triple A Sustainable Investing Awards for Institutional Investor, Exchange-Traded Fund (ETF), and Asset Servicing Providers recognizes enterprises in Asia and the Middle East, including asset owners, asset managers and its service providers, that have implemented important initiatives to achieve sustainable investment.
The Asset said, “In 2019, Ping An became the first asset owner in China to announce exclusions for investing in high-polluting industries. This has particular significance in the context of China’s increased reliance on coal-fired power plants following the substantial slowdown of its economy in 2018. The exclusion of high-polluting and energy-intensive industries from Ping An’s portfolio also follows a series of climate-related actions taken by Ping An in 2019. Ping An was the first Chinese insurer to sign the UN-supported Principles for Responsible Investment, join the Climate Action 100+ investors group, and adopt a number of criteria under which it would no longer insure coal projects.”
Ping An has been enhancing the Environmental, Social and Governance (ESG) performance of the Group to promote its comprehensive value in the capital markets. Ping An’s “Responsible Investment Policies of Ping An Group” incorporates ESG and climate change risks into investment analysis for seven types of responsible investment strategies for different kinds of asset investment. In 2019, green investment reached RMB51.245 billion, social and inclusive investment amounted to RMB903.204 billion, the balance of green credit loans reached RMB24.273 billion and the balance of social and inclusive loans amounted to RMB898.921 billion.
Ping An said, “Going forward, Ping An will expand the application of ESG investment across the Group, upgrade the existing responsible investment system and build up the professional capabilities for relevant investment teams. Ping An aims to become a leading responsible investor in China and explore the global responsible investment market. It is committed to apply responsible investment approaches to improve its risk management and achieve a stable investment model to create long-term value for investors.”