China Taiping Insurance

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body, with performance criteria for senior executive remuneration linked to specific sustainability targets. It delegates the implementation responsibility of its sustainability strategy to functions, teams or committees within the institution. Furthermore, the institution monitors its scope 1-2 emissions and discloses the amount or share, in monetary terms, of products, services and capital provided to small and medium-sized enterprises. However, no leading practices were identified for the financial institution with regard to Financing Climate and Nature protection and restoration.

The institution discloses commitments to respect the ILO’s fundamental rights at work but has the opportunity to formalise these in a policy document. It can also clarify how it determines a living wage in its operational regions and includes anti-bribery and anti-corruption clauses in its contracts with business relationships. While the institution identifies and prioritises material sustainability impacts, it could disclose the objective criteria and evidence used in its materiality analysis. Furthermore, it discloses some of its sustainability-related trade association affiliations but could provide a comprehensive list of its memberships.

It is recommended that the institution disclose that it has established a transition plan covering its own operations, supply chain, and portfolio and disclose the breakdown of clients or beneficiaries by income group. It could also clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Moreover, it could strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition. The institution could also provide an example of actions taken in the past three years to address salient human rights issues identified through risk assessments related to its products, services, and capital.

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.