CPIC Announces Sustainability Report: Take Social Responsibility and Be a New Leader in ESG

HONG KONG, April 26, 2023 /PRNewswire/ -- Recently, China Pacific Insurance (Group) Co., Ltd. ("CPIC" or the "Group"; Stock Code: 2601.HK, 601601.SS, CPIC.LSE) is pleased to announce its 2022 Sustainability Report, which is a second of its kind after CPIC has released corporate social responsibility reports for 13 consecutive years.

In 2022, CPIC's Board of Directors has carried out the regulatory and policy requirements for ESG affairs in a bid to improve the company's ESG performance, sharpen its sustainable development capabilities, and facilitate its high-quality development. In the face of the complex and ever-changing situation, the Company has made sustainable development the key point, the main axis and the radiant surface to write a new chapter of quality development in the new era. By building harmonious stakeholder relationships, enhancing the ability to integrate social resources, improving good corporate governance, and assuming greater social responsibility, the company has forged the strengths of responsibility, leadership, internal drive, synergy and value for sustainable development, and is moving towards its goal of becoming a new leader.

By improving ESG governance structure, strengthening the strategic leadership of ESG, clarifying key annual issues and promoting the integration of ESG into operational practices, CPIC's annual ESG performance highlights were outstanding during the reporting period. In terms of economy, Group operating income amounted to RMB455.372 billion, net assets amounted to RMB 228,446 billion and Group total number of customers amounted to 170.53 million. In terms of environment, the GHG emissions per capita were 0.75 tCO2e for the year, with 581.03 million electronic forms and 37,322 video/teleconferences. In terms of society, as of December 31, 2022, the total number of employees was 110,862, with ratio of female employees of 52.66%. The total expenditure on employee training was RMB3.66 million, with a public welfare donation of RMB50 million and a social contribution value of RMB5.57 per share. In terms of governance, 7 board meetings were held, 678 investor services were provided, and 102,161 employees participating in anti-corruption training was conducted for the year.

Take up the responsibility for the country, do duty for the people and contribute to the society. Sustainable development responsibility has laid a solid foundation. In 2022, to serve the country, CPIC has taken the initiative to integrate into the big picture of national development. Putting the people at center stage, CPIC try to secure the wonderful life of the general public. After all, responsibility is the cornerstone of sustainable development. In terms of ecology and environment, by growing more than 2,000 mu of public welfare forest at Sanjiangyuan, where the Yangtze River, Yellow River and Lancang River originate, CPIC practiced the concept that lucid waters and lush mountains are invaluable assets. For the purpose of common prosperity, CPIC ushered in new products to serve new citizen groups and, on a cumulative basis, disbursed RMB 36.5 trillion in benefits for anti-poverty insurance. With respect to vulnerable groups, CPIC Blue Foundation took care of senior citizens living with cognitive disorders and children with autistic disorders, showing love to more than 55,000 people. As a result, social responsibility initiatives of CPIC Green, CPIC Blue, and CPIC Red figured more prominently.

From development strategy, leadership improved the quality of CPIC's sustainable development. In 2022, CPIC took a crucial step forward in making the top-level design for sustainable development. In particular, CPIC prepared a three-year action plan, identified goals, and charted paths, for ESG. All these will help to lead CPIC forward. Today, CPIC have more powerful organizations for ESG work. The ESG leading group on the corporate level, the sustainable development leading group on the subsidiary level, and the professional agencies like green finance committees are not only powerful "brains" that direct work, but also important "hands" that execute plans. Moreover, CPIC's ESG practices are richer, and the ESG concept has further integrated into business operations, finding expression in ecosystems, communities, employees, customers and partners.

Focus on internal management to enhance the internal motivation for sustainable development. Strong internal motivation is an inexhaustible source of power for the Company's sustainable development. In 2022, CPIC strengthened its corporate governance, it made directors more professional and better at leading the company on a strategic level. Tech innovation helps to stimulate vitality. CPIC founded Technology to create an advanced system of smart digital services and to "respond to 100 million users in seconds and compute all data real-time". Risk control helps CPIC hold on to bottom line. Risk management system is increasingly sound, thus enabling CPIC to conduct professional risk assessments and decision-making on the ESG insurance and investment sides and, in turn, helping the company to develop more steadily.

Collaboration improved performance in sustainable development. In 2022, CPIC collaborate with stakeholders to help both the company and society achieve sustainable development. As a result, customer satisfaction with services has improved. The company's net promoter scores (NPS) have also increased steadily, making customers stickier than before. Employees now have a stronger sense of gain, too. CPIC have recruited high-level professionals, built a pool of young talents, and created a long-term mechanism for learning and growth. Moreover, CPIC's relationship with partners is closer than ever. The number of strategic customers has increased to 802. On the other hand, CPIC have forged a green supply chain with suppliers, creating a model for cooperation and win-win relationships.

Put effort into green insurance, green investment and green operation, and values made CPIC's sustainable development more distinctive. In 2022, following the principles of sustainable insurance and responsible investment, CPIC have added value to both the company and the society in general. The green insurance offered protection for green development, covering more than RMB 8 trillion worth of insured objects in the fields of clean energy, pollution reduction, ecological protection, green transport, climate response and more. CPIC participated in green investment to build beautiful homes and investment in the fields of energy, environmental protection, water conservancy and pollution prevention was RMB150 billion. CPIC promoted harmonious ecological development by implementing green operation and following the green standard in building CPIC homes, data center, operation back-end and green commute to reduce energy consumption and improve the energy utilization efficiency.

In 2023, Guided by the ecological civilization, CPIC will commit to the sustainable development to create a new leading position in the high-quality development of the insurance industry in the new era.

About China Pacific Insurance (Group) Co., Ltd.

China Pacific Insurance (Group) Co. Ltd. (hereinafter referred to as "CPIC", or the "Group"; Stock Code: 2601.HK, 601601.SH, CPIC.LSE) is an insurance holding company incorporated on the basis of China Pacific Insurance Company, which was established on May 13, 1991. It is headquartered in Shanghai, which is the first insurance group simultaneously listed on Shanghai, Hong Kong and London Stock Exchanges. CPIC is a leading comprehensive insurance group; the Company provides a broad range of risk solutions, financial planning and asset management services to over 100 million customers via its nationwide network of distribution and diversified services platforms.

This press release is distributed by Wonderful Sky Financial Group Limited on behalf of China Pacific Insurance (Group) Co., Ltd.