Ping An Life becomes the first Chinese insurance company to issue an ESG bond index
HONG KONG and SHANGHAI, April 28, 2022 /PRNewswire/ — Ping An Insurance Company (Group) of Chinaltd. (hereafter “Ping Anor the “Group”, HKEx: 2318; SSE: 601318) announced that the ChinaBond Ping An Life Insurance ESG Integration Strategy Credit Bond Index has been jointly issued by its subsidiary Ping An Life Insurance Company of Chinaltd. (hereafter “Ping a life“)_and ChinaBond Pricing Center Co., Ltd. Ping a life is the first insurance company China to issue an ESG bond index, which aims to promote the high-quality sustainable development of different industries through environmental, social and governance (ESG) investments.
Based on Ping An Life’s experience and advantage in long-term asset allocation, the index series strives to achieve sustainable investment returns through diversified product innovation. It also aims to generate more interest in sustainable investments.
The constituents of the index are bonds with relatively good credit qualifications. Ping a life selected them from the top 90% of bonds rated by ChinaBond’s ESG assessment in the domestic public listing with a residual maturity of at least three months and which meet the selection conditions during the listing period. Ping a life restricts the selection of industries for index components. The index will in principle be adjusted on a quarterly basis. From the end of March 2022there were 2,765 bonds in the index, with a total market value of 7.270 billion RMB. The index rates of return are 2.01% for six months, 4.73% for one year, 13.42% for three years and 25.99% for five years.
To compile the index, Ping a life uses a mainstream international methodological framework, taking into account the characteristics of China credit bond market. It combines an ESG rating system with traditional credit analysis and forms an ESG integration strategy through positive scoring and negative screening.
Ping a life said: “Driven by Ping An’s sustainability strategy, Ping a life has incorporated fundamental ESG philosophies and standards into its operations and management. The Company adheres to the concept of sustainable investing and reflects national strategies to achieve its industry-leading carbon emissions and carbon neutrality targets. Ping a life serves the real economy with financial services and supports the construction of major national green projects and the green transformation of social and economic development.” By the end of 2021, the cumulative scale of Ping An Life’s investment in green and inclusive finance and social investments through capital and non-financial markets was around 593.8 billion RMB. This side, Ping An Life’s the green investment was around 84 billion RMBincluding clean energy, energy conservation, environmental protection and infrastructure projects. Ping An Life’s the projects are in the beijing–Tianjin–Hebei region, the Yangtze River Delta and the Greater Yangtze River Economic Belt, the Guangdong-Hong Kong-Macao Greater Bay Area and other areas of China.
About Ping An Group
Ping An Insurance Company (Group) Chinaltd. (“Ping An“) aims to become a world leader in retail financial services. With more than 227 million individual customers and nearly 647 million Internet users, Ping An is one of the largest financial services companies in the world. Ping An focuses on two main areas of activity, “integrated finance” and “health”, covering the provision of financial and healthcare services through its integrated financial services platform and its ecosystems in financial services, health, automotive services and smart city services. The “finance + technology” and “finance + ecosystem” strategies aim to offer customers and Internet users innovative and simple products and services using technology. Like China first stock insurance company, Ping An is committed to the highest standards of corporate reporting and corporate governance. The Group is listed on the stock exchange in hong kong and Shanghai. Pingan ranked 6th in the Forbes Global 2000 list in 2021 and ranked 16th in the Fortune Global 500 list in 2021. Pingan also ranked 49th at WPP Kantar Millward Brown BrandZ 2021MT List of the 100 most valuable global brands.
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Source: Ping An Insurance (Group) Company of China, Ltd.