(Hong Kong, Shanghai, 28 October 2021) Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEX: 02318; SSE: 601318) announced it is on track to achieve operational carbon neutrality in 2030. The announcement came at the opening ceremony of the Nujiang – Gaoligong Mountain, the Sound of Ping An Exhibition Center in Yunnan Province.
At the ceremony, Ping An also announced the enhanced operation plan for Green Finance+. Ping An will focus on green operations, green assets, green insurance, green charity and green technology to support societal green transformation and sustainable development.
Focused on Operational Carbon Neutrality in 2030 and Green Finance
“Carbon neutrality” is an emerging topic around the globe. Ping An officially announced that the company will achieve carbon neutrality by reducing internal carbon emissions first, then investing or purchasing carbon credits to align with international operations standards.
Ping An also announced the enhanced operation plan for Green Finance+. To support China’s “30-60” target – to hit peak emissions by 2030 and carbon neutrality by 2060 – Green Finance+ is an upgraded operational plan in five aspects, including green operations, green assets, green insurance, green charity, and green technology. In April 2021, Ping An published its targets for the annual growth rates for its green investments of no less than 20%, green insurance premiums no less than 70% and green credit balance no less than 20%. Ping An aims to achieve the overall targets by 2025 with investment and credit of RMB400 billion and total green insurance premiums of RMB250 billion.
In addition to working towards green operations with carbon neutrality, Ping An’s investment in green assets will help establish standards and policies for green finance. Ping An will also launch a roadmap for carbon neutrality in the asset portfolio. For green insurance, the company promotes innovation on existing policies and products, and will provide comprehensive green insurance products and services. For green charity, the company will release its plan on its new Carbon Neutral Charitable Trust and organize public welfare activities. For green technology, the company will continue to leverage its technological edge to achieve carbon neutrality.
As of the third quarter of 2021, Ping An achieved green investment of RMB208.89 billion, green credit of RMB53.28 billion, and green insurance of RMB25.11 billion. The green projects included the Baihetan Dam, Shenzhen compulsory environmental pollution liability insurance, Zhuhai catastrophe index insurance, data center planning to improve power usage efficiency, and a Natural Disaster Early Warning Mechanism.
Deliver the sound of Ping An in harmonious symbiosis between human and nature
The Nujiang – Gaoligong Mountain, the Sound of Ping An Exhibition Center showcases the Gaoligong Mountain’s ecological environment to locals and visitors in visual and audio dimensions. The Gaoligong Mountain in Yunnan, which connects the Qinghai-Tibet Plateau and the Indochina Peninsula, is one of 17 key biodiversity areas in China. It is also the gene bank of species resources of China and the world and is listed as a UNESCO biodiversity protection circle.
The center, in Nujiang Baihualing Lisu Music Town, was jointly built by Yunnan Province Nujiang Lisu Autonomous Prefecture and Ping An.
Chinese explorers travelled to around the Gaoligong Mountain region to collect the sounds of nature and humanity. The documentaries featured at the center enable audiences to discover the symbiotic relationships between humans and nature.
Ping An is committed to supporting China’s green transformation and industry upgrades to realize China’s “30-60” target, contributing to global sustainable development, and promoting the well-being of all mankind.