Financial services
Established in China in 1988. Their three core businesses are insurance, banking and investment. China's largest insurer.
Company Assessment
(Last updated Jul 2024)
Praise
Criticism
Information
Ping An Insurance Company of China Ltd
Praise
Criticism
Information
CDP Climate Change score of B
In 2023, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change score of B.
Source: CDP
(2023)
64/100 S&P Global ESG Score
This company received an S&P Global ESG Score of 64/100 in the Insurance category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 21 Oct 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global
(2022)
Financing extreme fossil fuels
The 2021 report "Banking on Climate Chaos" analyses the world's 60 largest banks and their financing of tar sands oil, Arctic oil, offshore oil and gas, LNG, coal mining, and coal-fired power between 2016 and 2020. This bank invested US$29.7 billion between 2016 and 2020, making it the world's 36th worst fossil fuel funder.
Source: RAN
(2021)
Financing cluster munitions producers
The 2018 update to the report entitled "Worldwide Investments in Cluster Munitions" identifies 88 banks and other financial institutions with significant financial links to cluster munitions producers. This bank is listed in the report's Hall of Shame for having investments in one or more of the 7 cluster munitions producers named in the report.
2/20 in Social Benchmark
The 2024 Social Benchmark assesses the world's 2,000 most influential companies on their responsibility in meeting society's fundamental expectations towards three measurement areas: respecting human rights, providing decent work, and acting ethically. This company was assessed in 2022 and received a score of 2/20. The average score was an alarmingly low 4.6/20 and the highest score was 15.5/20.
Managing climate risks
ShareAction's 2018 report rates the world's 80 largest insurers on their approach to climate-related risks and opportunities. Based on their management of material climate risk, insurers are rated from AAA if they show climate leadership, to D if their approach is limited. The lowest X rating is given to those showing no evidence of addressing climate issues. This company received a D rating.
Source: AODP
(2018)
Insuring fossil fuels
The Insure Our Future campaign by a group of NGOs has ranked the world's leading insurance companies on fossil fuel insurance, fossil fuel divestment, and other climate leadership. Ping An scored middle rating for all categories.
Source: Insure Our Future
(2020)
12.6% in Financial System Benchmark
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #179/400, with a total score of 12.6/100.
29.6% in Newsweek Green Ranking 2017
This company received a score of 29.6/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek
(2017)
CSR claims
This company has corporate social responsibility claims on its website.
Source: company website
(2017)
BankTrack profile
BankTrack is a global network of civil society organisations and individuals tracking the operations of the banking sector and the activities they finance. BankTrack aims to promote fundamental changes in the banking sector so that banks adopt just and sustainable business practices. Follow the link to see a profile on this company's banking subsidiary, Ping An Bank.
Source: BankTrack
(2018)
Company Details
Type:
Public company
Subsidiaries:
Mayborn Group Plc
Fabric dyes and baby products
Founded in 1946 as a dye company. Added baby products division in 1983. Acquired by China's largest insurer Ping An in 2016.