Ping An boosts green activities in support of China's carbon goal

It proposes performance targets for green finance and measures for green growth.

Ping An will support China’s aim of achieving carbon neutrality by 2060 through upgrading its green finance activities.

In a letter entitled “A Letter from Ping An to the Earth,” the insurer proposed a series of performance targets for green finance which leverage the group's strengths in finance, including green insurance, green investment and green credit.

It also commits to adopting measures to support green growth and sustainable development.

Ping An targets the annual growth rates for its green investments of no less than 20%, green insurance premiums of no less than 70% and green credit balance of no less than 20%.

By 2025, the insurer hopes to hit the overall targets with investment and credit of $61.6b (CNY400b) and total green insurance premiums of $38.5b (CNY250b).