Ping An establishes China's first charitable trust for mangrove ecosystem conservation to promote sustainable development

Rhea-AI Summary

Ping An establishes the Ping An Biodiversity and Environmental Conservation Charitable Trust, the first of its kind in China, with a focus on mangrove ecology conservation and sustainable development.

Positive

• Ping An demonstrates commitment to sustainable innovation through the establishment of China's first mangrove carbon sink index insurance.
• Ping An expands its activity in green finance and actively participates in public welfare activities for biodiversity protection.
• Ping An's green investment scale reached RMB140.929 billion, with a green loan balance of RMB134.926 billion.

Negative

• None.

HONG KONG and SHANGHAI, China, Oct. 20, 2023 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 2318 / 82318; SSE: 601318) established the Ping An Biodiversity and Environmental Conservation Charitable Trust (hereinafter "the Trust") at a signing ceremony in Shenzhen. It is the first charitable trust in China to focus on the conservation of mangrove ecology and aims to protect biodiversity, and promote ecological conservation and sustainable development. The Trust was initiated with a donation of RMB10 million from the Shenzhen Ping An Public Welfare Foundation, with Ping An Trust as the trustee. The Shenzhen Mangrove Wetlands Conservation Foundation is the charitable project manager.

In September 2023, the world's first international mangrove center was launched in Shenzhen. Ping An has been at the forefront of green finance and services, demonstrating its commitment to sustainable innovation through the establishment of China's first mangrove carbon sink index insurance. The establishment of the Trust follows Ping An's launch of mangrove carbon sink insurance, furthering the Group's exploration and implementation of ESG principles and sustainable development. The Trust is perpetual and provides funding for initiatives such as mangrove ecosystem protection and restoration, waterbird ecological corridor construction and science education etc.

Chen Yao, General Manager of the Brand Department of Ping An Group, has expressed an eager anticipation for a collaborative approach with the Mangrove Foundation and other societal entities. The joint aspiration is to pave the way with innovative efforts in mangrove ecological conservation while fostering international dialogue and the sharing of best practices.

To promote sustainable development and facilitate harmonious coexistence between humans and nature, Ping An has expanded its activity in green finance and actively participates in public welfare activities for biodiversity protection. Ping An launched China's first "carbon neutrality" charitable trust -  "Ping An Carbon Neutral Green Finance Development Charitable Trust," to support and promote green and low-carbon projects. Together with Nujiang Prefecture in Yunnan Province, Ping An is jointly building the Gaoligong Mountain, the Sound of Ping An Exhibition Center, which is located in Nujiang Baihualing Lisu Music Town, calling on everyone to participate in the protection of natural biodiversity. As of the end of June 2023, Ping An's green investment scale reached RMB140.929 billion, with a green loan balance of RMB134.926 billion.

Ping An will continue to implement ESG responsible investment concepts. By utilizing financial instruments to empower green development and by employing financial acumen to create innovative public welfare model, the Group aims to strengthen the integration of finance, environmental conservation, and social development, thereby underpinning comprehensive sustainable development across society.

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) strives to become a world-leading integrated finance and healthcare services provider. With more than 229 million retail customers, Ping An is one of the largest financial services companies in the world. Under the technology-driven "integrated finance + healthcare" strategy, Ping An provides professional "financial advisory, family doctor, and elderlycare concierge" services. Ping An advances intelligent digital transformation and employs technologies to improve the quality and efficiency of its financial businesses and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of 2022, Ping An had RMB11,137,168 million in total assets. The Group ranked 16th in the Forbes Global 2000 list in 2023 and ranked 33rd in the Fortune Global 500 list in 2023.

For more information, please visit www.group.pingan.com and follow us on LinkedIn - PING AN.

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SOURCE Ping An Insurance (Group) Company of China, Ltd.

FAQ

What is the Ping An Biodiversity and Environmental Conservation Charitable Trust?

The Ping An Biodiversity and Environmental Conservation Charitable Trust is the first charitable trust in China to focus on the conservation of mangrove ecology.

What initiatives will the Trust fund?

The Trust will provide funding for initiatives such as mangrove ecosystem protection and restoration, waterbird ecological corridor construction, and science education.

What is Ping An's involvement in green finance?

Ping An has been at the forefront of green finance and has launched China's first mangrove carbon sink index insurance. They have also launched the Ping An Carbon Neutral Green Finance Development Charitable Trust to support and promote green and low-carbon projects.

What is the scale of Ping An's green investment?

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

What is Ping An's approach to sustainable development?

Ping An aims to implement ESG responsible investment concepts, empower green development through financial instruments, and strengthen the integration of finance, environmental conservation, and social development.