Ping An eyes $39.28b in green insurance premiums by 2025

The group recently released its 2021 sustainability report.

The Ping An Group is aiming to achieve its overall targets with investment and credit of $62.84b and total green insurance premiums of $39.28b by the end of 2025, according to the group’s 2021 sustainablity report.

The group reported that as of 31 December 2021, its green investment and financing totaled 
As of December 31, 2021, Ping An's green investment and financing totaled $35.29b, green banking business totaled $14.11, and environmentally sustainable insurance premium income totaled $7b.

With the goal of operational carbon neutrality by 2030, Ping An said it has adopted a carbon neutral strategy in line with international best practices. It prioritized internal measures to reduce emissions, and is also looking at external ways to further reduce emissions, including purchasing external green power. After all emission reduction measures are implemented, Ping An said it will have achieve carbon neutrality through multiple approaches, including buying carbon credits.

Additionally, Ping An said they updated its Policy Statement on Responsible Investment and Policy Statement on Coal Related Business of Ping An Group. They set strict standards for monitoring the investments in high pollution and high emission industries. In addition, Ping An is committed to incorporating environmental, social and corporate governance (ESG) concepts into insurance business development and insurance product design. 

In 2021, Ping An updated the Group's Policy Statement on Sustainable Insurance based on the Principles for Sustainable Insurance (PSI) from the United Nations Environment Programme Finance Initiative (UNEP FI).  As of December 2021, the scale of Ping An's responsible investment and financing reached nearly RMB1.22 trillion, of which Ping An's green investment and financing was nearly $35.28b. Inclusive investment and financing was nearly $10.76b, and social investment and financing was nearly $145.61b, with 2,303 sustainable insurance 
products offered.

"Driven by sustainable development strategies, Ping An integrates ESG core concepts and standards into enterprise management in all respects, striving to promote 'integrated finance + healthcare' services, and to create value for shareholders, customers, employees, partners, the community and the environment. In 2022, focusing on 'Integrated finance' and 'healthcare', Ping An will continue to build upon the strategy of 'finance + technology' and 'finance + ecosystem' to become a world-leading integrated financial and healthcare services provider,” Ping An said.

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