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Ping An uses insurance as catalyst for conservation, ESG investment

23rd October 2023 - Author: Akankshita Mukhopadhyay

Ping An Insurance (Group) Company of China, Ltd. has noted it continues to make strides in the realm of environmental conservation and ESG (Environmental, Social, and Governance) investment by utilising insurance as a catalyst for change.

ping-an-logoIn a groundbreaking move, the company established the Ping An Biodiversity and Environmental Conservation Charitable Trust, marking the first charitable trust in China devoted to the preservation of mangrove ecosystems and the promotion of sustainable development.

The Trust, initiated with a generous RMB10 million donation from the Shenzhen Ping An Public Welfare Foundation, has Ping An Trust as its dedicated trustee.

Under the expert guidance of the Shenzhen Mangrove Wetlands Conservation Foundation, the Trust sets its sights on various critical initiatives, including mangrove ecosystem protection and restoration, waterbird ecological corridor construction, and science education.

In September 2023, Shenzhen became home to the world’s first international mangrove center, a testament to Ping An’s unwavering commitment to green finance and services.

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This commitment extends to the introduction of China’s pioneering mangrove carbon sink index insurance, further reinforcing the Group’s dedication to ESG principles and sustainable development.

Chen Yao, General Manager of the Brand Department at Ping An Group, expressed enthusiasm for collaboration with the Mangrove Foundation and other societal stakeholders. Their shared vision involves pioneering innovative approaches to mangrove ecological conservation, fostering international dialogue, and facilitating the exchange of best practices.

But Ping An’s dedication to sustainability does not stop here. The company recently launched the “Ping An Carbon Neutral Green Finance Development Charitable Trust,” which is designed to support and promote green and low-carbon projects.

Additionally, a partnership with Nujiang Prefecture in Yunnan Province is underway to construct the Gaoligong Mountain, the Sound of Ping An Exhibition Center, in a bid to encourage public participation in the protection of natural biodiversity.

As of June 2023, Ping An’s green investment reached RMB140.929 billion, with a green loan balance of RMB134.926 billion.

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