China Taiping Insurance

In terms of senior leadership accountability, the responsibility for sustainability issues within China Taiping Insurance lies with the board of directors. In addition, the insurance company identified and prioritised its impacts through a materiality assessment process, including external stakeholders’ feedback.

China Taiping Insurance discloses the aggregate amount of green funding, insurance, and investment provided to climate solutions while specifying what these are.

China Taiping Insurance discloses the proportion of its total direct operations workforce for each employee category by age group and gender.

China Taiping Insurance could link the remuneration of its executive or management teams to sustainability performance criteria. The insurance company has the opportunity to disclose a commitment to gender equality and women’s empowerment, the proportion of women in senior leadership roles, and how it addresses any gender pay gaps. In terms of female representation in leadership positions, women are underrepresented on the board of directors where only two out of twelve board members are women. Furthermore, China Taiping Insurance could describe its engagement approach on sustainability themes and impact topics with clients and investees.

China Taiping Insurance could disclose a target to reach net-zero financed emissions by 2050 and the key sectors it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. Moreover, it could align its green funding, insurance, and investment in climate solutions with internationally recognized frameworks. Furthermore, it has an opportunity to set related time-bound targets. Regarding nature and biodiversity, no evidence was found that China Taiping Insurance is committed to minimising its negative impacts or to financing regenerative solutions. Additionally, the insurance company has an opportunity to disclose its approach to fossil fuels that spans across the fossil fuel value chain, such as the amount or share of finance it directs towards fuels or its stance on financing companies with new fossil fuel projects.

China Taiping Insurance could disclose publicly available policy statements committing it to respect human rights, the ILO core labour rights, and the health and safety of workers. Moreover, it has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. To provide transparency on financial inclusivity, China Taiping Insurance could publish the amount of finance directed towards women-owned businesses, small- and medium-sized enterprises (SMEs), or low-income developing countries. To conclude, the insurance company could establish a grievance mechanism accessible to all workers, external individuals, and communities to raise human rights complaints or concerns.