Ping An Insurance (Group) Company of China, Ltd. aims to achieve overall targets with green investment and credit of RMB400 billion by 2025.
As of 31 December 2021, the Group’s green investment and financing was nearly RMB224.58 billion. In total, its overall responsible investment and financing was nearly RMB1.22 trillion, including inclusive investment and financing of nearly RMB68.5 billion, and social investment and financing of nearly RMB 926.9 billion.
The Group’s green investment will include green buildings, roads with green licence and clean energy projects.
Benjamin Deng, Ping An’s chief investment officer, highlighted that ESG is key to long-term stability and prosperity for the insurer’s customers.
“Ping An as the wealth keeper of clients’ long-term income for retirement and wealth succession, we have to consider stability, prosperity, predictability and act 100% on their benefits and interests,” Deng told the Principles for Responsible Investment (PRI) China conference last month.
As a long-term institutional investor, Ping An is focused on investing in sustainable stocks or bonds for predictable and stable income. Deng noted that the Group does not want to invest in companies with rapid changes in governance and loose regulations, so governance is at the core of Ping An’s research.
Deng pointed out that Ping An is working both internally and externally to support net-zero greenhouse gas emissions targets. The Group aims to achieve operational carbon neutrality by 2030 and focuses on ESG investing and insurance.
