China Re Group

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body, while implementation is handled by specific functions, teams, or committees. It discloses the amount and/or share (in monetary terms) of products, services, and capital provided to usually excluded groups, as defined by the institution itself. Additionally, the institution discloses the amount and/or share (in monetary terms) of products, services, and capital provided to small and medium-sized enterprises.

The financial institution commits to respecting the ILO’s fundamental rights at work but could enhance this commitment in a formal policy document. It has the opportunity to clarify how it determines a living wage in its operational regions and to formalise its anti-bribery and anti-corruption stance in public policy. Additionally, including anti-bribery and anti-corruption clauses in contracts with business partners is recommended. While it identifies material sustainability impacts across its value chain, further detail on the processes and criteria used for prioritisation is needed.

The institution could better highlight its role in climate adaptation and resilience. It should also disclose its scope 3 emissions. Establishing a transition plan for its operations, supply chain, and portfolio is recommended, as is ensuring emissions reductions align with interim targets.

A breakdown of clients by income group and further details on employee and reinsurance premium distribution by country are suggested. The institution should disclose processes to avoid unintended divestment from low-income countries and include risks related to ILO rights in its risk assessment. The institution has an opportunity to provide examples of actions taken on salient human rights issues are also recommended.

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.