Ping An Insurance (Group) Company of China, the country’s biggest insurer in terms of capitalisation, has announced a comprehensive upgrade of green finance activities and the setting of quantitative green finance performance targets.
On the occasion of the 52nd annual Earth Day, which fell yesterday, Ping An issued “A Letter from Ping An to the Earth”, saying that it will support China’s goal of achieving carbon neutrality by 2060, help combat global climate change, and promote sustainable social development.
Ping An set targets for the annual growth rates for its green investments of no less than 20%, green insurance premiums no less than 70% and green credit balance no less than 20%.
It will actively promote green investment and climate change risk management, provide insurance premiums, and offer green channels or preferential interest rate policies on loans to green projects and green companies.
Ping An also says that it will offer financial incentives for green projects, such as preferential credit interest rates and insurance rates, asset allocation tilting and training, mentoring and other value-added services. It will support innovations in clean technology, renewable energy, energy efficiency, energy technology,carbon capture and ecological carbon sinks, carbon trading and other environmental fields.’
Green investment: Increasing investment in green assets, including, but not limited to, listed company stocks, bonds, public funds, private equity, debt plans, special asset management, and trust plans, and encouraging development and innovation in green financial products. (fonte: www.asiainsurancereview.com)