China Pacific Insurance (Group) Co.Ltd(601601) contribute to the dual carbon goal and further cultivate the ESG field to a new level. Recently, China Pacific Insurance (Group) Co.Ltd(601601) signed the United Nations Sustainable insurance principles (UN psi), becoming the second signing enterprise in China. At the same time, he formally signed the United Nations principles for Responsible Investment (UN PRI) as the asset owner and investment manager, becoming the fourth asset owner to sign PRI in China.
Unpsi and unpri are international organizations initiated and established by the financial initiative of the United Nations Environment Programme (UNEP FI). They are committed to promoting the development of the concept and practice of global green finance and responsible investment. They are important international organizations in the field of sustainable development.
The signing of unpsi and unpri marks China Pacific Insurance (Group) Co.Ltd(601601) a new chapter in practicing ESG concept and promoting sustainable development. Under the new “double cycle” development pattern, China Pacific Insurance (Group) Co.Ltd(601601) under the guidance of the national “3060” carbon target, vigorously and continuously implement the ESG concept, deepen the ESG practice, effectively, orderly and effectively do all kinds of work at the liability end, asset end and operation end, and contribute to high-quality development in an all-round way.
China Pacific Insurance (Group) Co.Ltd(601601) internalize corporate social responsibility into the driving force of sustainable development and build ESG top-level design and governance structure. In March 2021, China Pacific Insurance (Group) Co.Ltd(601601) made it clear that the board of directors, as the final decision-making body of ESG management, is responsible for comprehensively supervising the planning, implementation and management of ESG. Establish a “strategy and investment decision and ESG committee” to study and plan the company’s ESG strategy and play a core role in ESG management. At the executive management level, ESG office is established as a collaborative promotion organization to ensure the effectiveness of ESG management in the whole jurisdiction of the system.
deepen sustainable insurance with green strategy
At the just concluded fourth China Expo, China Pacific Insurance (Group) Co.Ltd(601601) and its partners customized a comprehensive solution of “carbon neutralization”, helped to achieve “Zero Carbon Expo”, and promoted China Expo to become a green benchmark for China’s Convention and exhibition industry. At the same time, China Pacific Insurance (Group) Co.Ltd(601601) property insurance reached “carbon quota + pledge + insurance” cooperation with Shanghai Environment Group Co.Ltd(601200) energy exchange, Shenneng Carbon Technology Co., Ltd., Bank Of Communications Co.Ltd(601328) and landed the country’s first carbon emission quota pledge loan guarantee insurance business, which is the latest attempt of financial institutions to help achieve the goal of “carbon peak and carbon neutralization”.
The above case is an epitome of China Pacific Insurance (Group) Co.Ltd(601601) deeply cultivating sustainable insurance, integrating ESG factors into the development and underwriting process of insurance products, increasing the innovation of insurance products and services in the fields of energy science and technology innovation, low-carbon transformation of traditional industries, coping with climate change, environmental governance and so on, and creating branded green insurance products.
As early as the first decade of China Pacific Insurance (Group) Co.Ltd(601601) construction company, it has begun to underwrite clean energy projects: hydropower, photovoltaic power generation and nuclear power projects in the late 20th century and wind power projects in the early 21st century. In the field of hydropower generation, China Pacific Insurance (Group) Co.Ltd(601601) has participated in the property insurance projects of China’s top five hydropower stations such as the Three Gorges, Baihetan and Wudongde, and has exclusively / Chief insured the employer’s liability insurance of the construction and operators of the five hydropower stations for many consecutive years. By the end of June 2021, the total insured amount in the field of hydropower generation had exceeded 50 billion yuan, and more than 150 large, medium and small hydropower projects had been underwritten. In the field of photovoltaic power generation, China Pacific Insurance (Group) Co.Ltd(601601) property insurance deeply participated in the photovoltaic projects under the five power groups, and also participated in many new energy projects under CGN new energy and cecep. In the same period, the cumulative insured amount in the photovoltaic field was nearly 100 billion yuan.
By the end of June 2021, China Pacific Insurance (Group) Co.Ltd(601601) has provided more than 80 billion forestry insurance risk guarantee for 25 provinces and cities in China. China Pacific Insurance (Group) Co.Ltd(601601) in areas rich in forestry resources, such as Heilongjiang, Guangdong, Fujian and other places, property insurance has strengthened the promotion of forestry insurance, actively promoted underwriting and claim settlement services based on new technologies such as remote sensing UAVs, piloted urban greening forest insurance in many places, and actively explored the product service mode of grassland insurance and forest carbon sequestration insurance.
At the same time, China Pacific Insurance (Group) Co.Ltd(601601) has provided environmental pollution risk guarantee for more than 4000 enterprises in China, continuously upgraded service guarantee, implemented safety and environmental protection mode, transformed traditional insurance into safety responsibility + environmental responsibility guarantee, and helped enterprises realize green environmental protection, safe production, energy conservation and consumption reduction.
point green into gold innovation responsible investment
The “14th five year plan” is the critical and window period of carbon peak. The characteristics of long-term investment, value investment and prudent investment of insurance funds are consistent with the concept of green investment, China Pacific Insurance (Group) Co.Ltd(601601) seize the opportunity, accelerate the embrace of green investment, and make a beautiful “combination fist” on the asset side and liability side.
China Pacific Insurance (Group) Co.Ltd(601601) give full play to the role of insurance funds as the “stabilizer” and “ballast” of green economic development, deeply integrate green investment into the implementation of regional major strategies such as the integrated development of the Yangtze River Delta, the construction of the Great Bay area of Guangdong, Hong Kong and Macao, the coordinated development of Beijing, Tianjin and Hebei, the ecological protection and high-quality development of the Yellow River Basin, and help continuously optimize major infrastructure The distribution of major productive forces and public resources throughout the country directly participates in the investment and construction of green projects in the fields of new energy, environmental protection, water affairs, pollution prevention and control through debt investment plans, equity investment plans, asset support plans and industrial funds, and participates in the construction of green finance such as green finance pilot zones through indirect investment, especially green bonds.
In 2021, China Pacific Insurance (Group) Co.Ltd(601601) Changjiang endowment insurance issued the first ESG insurance asset management product – Golden zengying No. 6, which filled the gap in the issuance of ESG products in the field of endowment insurance asset management. At the same time, China Pacific Insurance (Group) Co.Ltd(601601) innovated and developed The Pacific Securities Co.Ltd(601099) excellent carbon neutralization theme products, The Pacific Securities Co.Ltd(601099) – equity investment of Shanghai Urban Investment and environmental protection financial services and a series of products to continue to inject financial “living water” into the field of green development, By the end of June 2021, China Pacific Insurance (Group) Co.Ltd(601601) assets under management were nearly 2.6 trillion yuan.
David Atkin, the new CEO of PRI, said: “we are pleased to welcome China Pacific Insurance (Group) Co.Ltd(601601) to join PRI as a signatory. As one of China’s largest insurance groups, China Pacific Insurance (Group) Co.Ltd(601601) At the same time, signing PRI as asset owner and investment manager represents the importance of environmental, social and corporate governance factors to long-term funds and the further improvement of China’s insurance industry’s awareness of responsible investment. We look forward to working with them. ”
Standing at the new starting point of signing psi and PRI, China Pacific Insurance (Group) Co.Ltd(601601) is concerned about the “big country”. It will accelerate the integration of ESG concept into the debt side, investment side and its own operation side, improve the long-term mechanism for serving green development, strengthen the innovation of green financial products, give full play to the role of insurance capital resource allocation and financing, and strive to build an insurance system serving a dual carbon economy, Take practical actions to provide a strong driving force for green development and comprehensively help the realization of the national dual carbon goal.
(red net)
