HONG KONG and SHANGHAI, Jan. 3, 2020 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEx:2318; SSE:601318) announced that the Group has joined Climate Action 100+, an investor initiative launched in 2017 to ensure the world's largest corporate greenhouse gas emitters take necessary action on climate change. Ping An is the first Chinese asset owner signatory to Climate Action 100+. The Group's decision to join the initiative highlights the growing momentum in investor environmental stewardship in China and across Asia.
Currently, more than 420 investors across the world with more than USD38 trillion in assets under management have signed on to Climate Action 100+.
Fiona Reynolds, CEO of Principles for Responsible Investment (PRI) said, "We are delighted to welcome Ping An to Climate Action 100+. As an influential long-term investor, its commitment and leadership will be vital to accelerating action on climate change in China and beyond. We look forward to working with Ping An."
In September 2019, Ping An signed up to PRI, making it the first Chinese asset owner signatory. This marked a major milestone in the development of environmental, social and governance (ESG) and responsible investing in China.
Richard Sheng, Board Secretary and Brand Director of Ping An said, "Climate change is a global issue, and its impacts are a topic of universal concern. As a global leading integrated financial services group, Ping An has always responded proactively to business risks and operational risks arising from climate change and released the first TCFD (Task Force on Climate-related Financial Disclosures) report in China. By joining Climate Action 100+, we are building another significant channel to engage with companies on how to reduce greenhouse gas emissions and adopt sustainable practices. Ping An is committed to tackling climate change and pursuing sustainable development."
Ping An is committed to continuous improvement in climate change-related risk management, as part of its "finance + technology" strategy to develop and apply technologies in different fields. Ping An is also applying artificial intelligence technologies to monitor climate change and environmental quality in China. In recognition of the Group's efforts and achievements, Ping An was selected for Dow Jones Sustainability Emerging Markets Index in September 2019.
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With over 200 million retail customers and 500 million Internet users, Ping An is one of the largest financial services companies in the world.
Ping An has two over-arching strategies, "pan financial assets" and "pan healthcare", which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems of financial services, health care, auto services, real estate services and smart city services. Our "finance + technology" and "finance + ecosystems" strategies aim to provide customers and internet users with innovative and simple products and services. As China's first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The Company is listed on the stock exchanges in Hong Kong and Shanghai.
Ping An ranked 7th on the Forbes Global 2000 list and 29th on the Fortune Global 500 list. Ping An also ranked 40th on the 2019 WPP Millward Brown BrandZTM Top 100 Most Valuable Global Brands list. For more information, please visit www.pingan.cn.
