China Life Insurance

No leading practices identified for the financial institution.

The financial institution commits to respecting the ILO’s fundamental rights at work but has the opportunity to formalise this in a policy document. It can also disclose its method for determining a living wage in its operational regions. Although bribery and corruption are prohibited, formalising this commitment in a public policy document is advisable. Anti-bribery and anti-corruption clauses are included in contracts, but the consequences of breaches are not specified.

The institution’s subsidiary, China Life Insurance Company Limited, conducted a materiality analysis, yet the institution could enhance transparency by identifying and prioritising its material sustainability impacts at the group level using objective criteria. Recommendations include linking senior executive remuneration performance criteria to specific sustainability targets, disclosing the breakdown of clients by income group, and providing examples of actions taken regarding salient human rights issues based on assessment processes in the last three years.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.