Ping An Receives Hong Kong ESG Excellence Awards 2023

Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An”, the “Company” or the “Group”, HKEX: 2318 / 82318; SSE: 601318) has won the ESG Excellence Awards 2023 in the category of Main Board Companies – Hang Seng Index Constituent Companies. The ESG Excellence Awards 2023 was co-organized by The Chamber of Hong Kong Listed Companies and the Centre for Corporate Governance and Financial Policy at Hong Kong Baptist University. This is the second consecutive year Ping An has received this honor.

The judge commented: “ Ping An has demonstrated outstanding ESG performance . The group disclosed its operational carbon neutrality path, highlighting a dedication to reducing its carbon footprint. These efforts emphasize Ping An’s ongoing commitment to robust ESG practices. Ping An’s achievements in inclusive finance are commendable, and the company has made significant strides in areas such as responsible investment, climate change vulnerability, corporate governance, and corporate behavior. The judges appreciate Since 2018, Ping An has been a driving force in promoting development across diverse sectors such as industry, medical care, and education, through its rural revitalization plans. The judges express high appreciation for Ping An’s multifaceted approach, recognizing its positive contribution to both environmental and social well-being.”

Driven by its sustainability strategy, Ping An has integrated core ESG philosophies and standards into its management framework. The Board of Directors oversees all ESG issues to ensure long-term and stable development of the business and generate sustainable value for shareholders, investors and other stakeholders. At the end of 2022, the Company upgraded its Green Finance Committee to a Sustainable Development Committee (SDC). Under the leadership of Chairman Ma Mingzhe, with the Group’s Co-CEOs and senior executives serving as deputy directors, the SDC oversees Ping An’s green finance, rural revitalization, and other key ESG initiatives.

Ping An is actively responding to climate change challenges and opportunities. To build a roadmap to its goal of achieving operational carbon neutrality by 2030, Ping An carried out a carbon inventory to measure carbon emissions in the Group’s operations. In 2022, the total of Ping An’s carbon emissions in the workplace was approximately 326,670 tonnes of carbon dioxide equivalent (tCO2e), a 24% decrease year-on-year. The average per person was 0.95 tCO2e, a 21% decrease year-on-year. Ping An is also promoting green finance, leveraging its integrated finance capabilities. By the end of June 2023, green investment in Ping An’s insurance assets reached RMB140.929 billion, and the balance of green loans stood at RMB134.926 billion. During the first three quarters of 2023, the Company’s green insurance policies generated original premium income of RMB26.276 billion.

On the social front, Ping An has integrated insurance with healthcare and elderlycare services to address the aging population challenge in China. Its home-based eldercare services, with family doctors and concierges, covered 54 cities across China as of September 30, 2023. Ping An also promotes rural revitalization, including industry, healthcare and education, through its Ping An Rural Communities Support program, which launched in 2018. The Company has provided RMB103.241 billion through the program as of September 30, 2023.

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