CPIC Successfully Holds the ESG Investment Forum of GBA to Jointly Create a New Situation for the Development of the Bay Area

HONG KONG, Feb. 27, 2023 /PRNewswire/ -- On February 25, China Pacific Insurance (Group) Co., Ltd. ("CPIC", "Company" or "Group"; share code: 02601.HK, 601601.SH, CPIC.LSE) was pleased to announce that the ESG Investment Forum of the Greater Bay Area of CPIC was grandly held at Guangzhou CPIC Financial Building and achieved complete success.

With the theme of "responsible investment for green future", the forum invited local governments, regulatory authorities, industry associations, ESG experts and scholars and strategic partners of CPIC to meet each other to discuss the core concepts and practical experience of ESG investment, advise on the development prospects under the background of "double carbon", and witness 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.

At the forum, Fu Fan, the President of CPIC, delivered a keynote speech entitled "Take the Road of Green Development and Be a Responsible Investor", comprehensively introduced the achievements of the Group's 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.

At the forum, all guests jointly witnessed the official opening of the headquarters building of CPIC in the Greater Bay Area. The headquarters building in the Greater Bay Area is a high-quality office building located in the Tianhe CBD of Guangzhou, with a superior geographical location. Locating here, the Group aims to actively respond to the national strategy and better serve the real economic and social development of the Bay Area. Relying on the headquarters building in the Greater Bay Area, the Group will strengthen asset-liability coordination, promote cross-subsidiary and inter-institutional resource sharing, actively introduce external brand enterprises and high-quality institutions to settle in, and strive to build a demonstration building for the symbiotic development of financial entities.

Subsequently, CPIC signed a cooperation intention agreement with representatives of CICC on the green carbon science and technology fund in the Greater Bay Area. The target scale of the fund is as high as RMB10 billion, RMB3 billion of which is for the first phase. It 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. The successful signing of the agreement of intent is also an important force for the Group to "enter Guangdong" as an insurance capital, and profound practice to follow "taking the path of green development", introduce the ESG management concept, and continue to increase the supply of green financial products.

As for the economic and social transformation of achieving carbon peak and carbon neutrality which involves values concept, industrial structure, energy system, consumption mode and other aspects, this forum also held a wonderful round table dialogue, which brought together two important roles of physical enterprises and financial institutions. Under the theme of "green, opportunities, cooperation and innovation", participants shared the ESG investment philosophy and practical experience, unfolded wonderful dialogues and triggered hot discussions on how to strengthen ESG governance and help the transformation and upgrading as well as high-quality development of green industry in the Greater Bay Area. 

On the occasion of this forum, the 2022 CPIC Climate Change Response Report, which substantially shows the achievements of CPIC in the field of climate risk management, was also released. Subsequently, the Group 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.

In addition, the Shanghai State-owned Enterprises Greater Bay Area Party Building and Financial Services Alliance, jointly established by CPIC and Shanghai Industry, Shanghai Pudong Development Bank, Bank of Shanghai, Guotai Jun'an, Haitong Securities, and Huitianfu Fund, was officially launched. This alliance is a response to the call of "simultaneous aggregation" of the Party building of enterprises outside Shanghai initiated by Shanghai State-owned Assets Supervision and Administration Commission, is in line with the development trend of the financial industry, and takes a solid step of integrating into the Greater Bay Area, which may give full play to the advantages of Shanghai financial enterprises in the Greater Bay Area in terms of a large number of institutions, diversified business types and strong strength, aggregate banking, securities, insurance, funds and other service resources, and jointly serve the economic and social development of the Greater Bay Area with regional Party building as the linkage.

Through the successful holding of this forum, CPIC and all sectors of the society talked about the ESG investment trend, and wrote a grand blueprint for jointly creating a new situation for the development of the Bay Area. On one hand, through sharing the development opportunities of the Bay Area and discussing the path of green development, CPIC has endowed the forum with a profound spirit of the times; on the other hand, it will help the Group accelerate the strategic layout in the Bay Area, enrich the connotation of ESG development, grasp the green development opportunities, and deepen cooperation and collaborative innovation, playing a strong role in promoting the high-quality development of the Greater Bay Area under the background of "double carbon".

Kong Qingwei, the Chairman of CPIC said, "The Greater Bay Area is the main battlefield for the regional development of CPIC. The three major strategies have been implemented in the Bay Area market successively, creating a new situation for the Group's development in the Bay Area. In the future, the Group will continue to give full play to its professional advantages in insurance, and 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."