China Pacific Insurance

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. The financial institution links performance criteria for remuneration at the senior executive level to specific sustainability targets. The financial institution assigns responsibility for implementing its sustainability strategy to functions, teams or committees within the financial institution. The financial institution monitors its scope 1-2 emissions.

The financial institution commits to respecting the ILO’s fundamental rights at work but could strengthen this commitment by formalising it in a policy document. It has the opportunity to disclose its methodology for determining a living wage in its operational regions. Although bribery and corruption are prohibited, this commitment could also be formalised publicly. The institution identifies material sustainability impacts but should provide more detail on the criteria and evidence used for their prioritisation.

Recommendations include disclosing monitoring of other scope 3 categories, detailing the methodology for footprint calculations, and establishing a transition plan for its operations, supply chain, and portfolio. It is advised to disclose the breakdown of clients by income group and to include risks related to ILO fundamental rights in its risk assessment process, along with a mitigation strategy for identified risks.

Additionally, the institution should identify social risks linked to its products and services in the context of the net zero transition and provide examples of actions taken regarding salient human rights issues from assessments conducted in the past 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.