HONG KONG, March 1, 2023 /PRNewswire/ -- In recent years, with the global climate change intensifying, low carbon and emission reduction have attracted more and more attention from all countries. The Chinese government proposes to reach the carbon peak by 2030 and achieve carbon neutrality by 2060. In this context, the importance of ESG concept integrating environmental, social, governance and other multidimensional factors is increasing. In order to implement China's "Double Carbon" strategy and support the green financial system in the Greater Bay Area, China Pacific Insurance (Group) Co., Ltd. ("CPIC", "Company" or "Group"; stock code: 02601.HK, 601601.SH, CPIC.LSE) has tapped into the ESG investment field and explored a scientific and efficient sustainable development model.

On February 25, under the theme of "Responsible Investment for Green Future", CPIC held the ESG Investment Forum of the Greater Bay Area successfully at Guangzhou CPIC Building. Local governments, regulatory authorities, industry associations, ESG experts and scholars and strategic partners of CPIC met each other at the forum to discuss the core concepts and practical experience of ESG investment, as well as the development prospects under the background of "Double Carbon", and witnessed a series of activities, such as the opening of the headquarters building of CPIC in the Greater Bay Area, and the signing of cooperation intention on green carbon science and technology fund in the Greater Bay Area.

Official launch of the headquarters in Greater Bay Area helps multi-dimensional extension of business

Under the background of "Double Carbon", CPIC has actively responded to the national strategy to serve the real economic and social development of the Bay Area, and purchased high-quality office buildings in Tianhe CBD, Guangzhou, as its headquarters in the Greater Bay Area, striving to establish an ecosystem of Financial + Technology + Service.

Nowadays, CPIC's three major strategies of "Big Health, Big Data and Big Region Development" have been implemented in the Bay Area market successively, creating a new situation for the Company's development in the Bay Area and laying a basis for the transformation of the main battlefield into the Great Bay Area. After the opening of the headquarters building in the Greater Bay Area, the Company will continue to give full play to its professional advantages in insurance, play a professional role in supporting industrial upgrading, cross-border financial services and promoting connectivity, make the "CPIC Service" take root in southern Guangdong, and contribute to the construction of a beautiful Bay Area.

Previously, in order to implement the strategic cooperation agreement signed with the Guangdong Provincial Party Committee and the Guangdong Provincial Government, CPIC formulated the CPIC's Three-year Action Plan for the Special Work of the Construction of the Greater Bay Area of Guangdong, Hong Kong and Macao (2021-2023), gave full play to the characteristics of long term and stability of insurance capital, promoted the implementation of the "Six Ones" key projects in the Greater Bay Area, and established a special fund for innovation and development in the Greater Bay Area. Next, the Company will continue to increase capital investment to provide high-quality and efficient insurance innovation products, spare no effort to participate in the construction of major projects in Guangdong, bring better service experience to residents in the Bay Area, and achieve greater development in the high-quality development of Guangdong.

At the same time, in terms of business expansion, CPIC will further tap into the health care market in the Greater Bay Area, set up the exclusive scientific and technological innovation platform in the Greater Bay Area, provide high-quality and efficient insurance innovation products, actively participate in the construction of major projects in Guangdong, bring better service experience to the residents of the Bay Area, comply with the trend of the times, and adhere to the green development path towards the future.

Deeply practice the ESG investment concept and bear the social responsibility of insurance companies

How to achieve carbon peak and carbon neutrality is an economic and social transformation involving values concept, industrial structure, energy system, consumption mode and other aspects, among which physical enterprises and financial institutions both play important roles. At the forum, the 2022 CPIC Climate Change Response Report, which substantially shows the achievements of CPIC in the field of climate risk management, was released. Subsequently, the Company will use high-tech risk service tools to make efforts to build a common and beautiful home through disaster prevention, risk reduction, product innovation and other methods.

Due to its compatibility with the needs of China's high-quality development at the present stage, the concept of sustainable development advocated by ESG has received unprecedented attention at the level of institutional policy and in market investment practice. Some insurance companies even regard it as an important starting point for transformation and development, and CPIC is no exception. At the forum, CPIC comprehensively demonstrated the achievements of its ESG investment, and proposed to continue to transform the development model, promote the ESG factor to be included into the whole process of the asset-side investment value chain, and explore a sustainable development path with the characteristics of CPIC. In addition, CPIC also signed a cooperation intention agreement with representatives of CICC on the Green Carbon Science and Technology Fund in the Greater Bay Area, which mainly focuses on green energy, green transportation, green city, green manufacturing and other directions, and is expected to inject fresh force into the green transformation of the Greater Bay Area.

In the future, CPIC will continue to firmly implement the ESG concept, actively participate in the construction of the Greater Bay Area, fully integrate the environment, society and corporate governance into the operation and management, develop green industries, fulfill social responsibilities, and master the ESG investment code, with a view to realize breakthrough in transformation and gradually grow into a leader in the healthy and stable development of the industry.