Ping An upgrades its AI-based ESG evaluation system to drive responsible investment

Hong Kong And the ShanghaiAnd the 27 July 2022 /PRNewswire/ – Ping An Insurance (Group) China(HKEx: 2318; SSE: 601318) has upgraded its ESG rating system to meet the group’s growing demand for high quality ESG scoring data.

The growing interest in environmental, social and governance (ESG) investment has led to an increased demand for data on ESG factors. The majority of ESG performance evaluations rely primarily on manual data collection and processing, which is inefficient, slow, and results in poor data quality.

Ping An It unveiled an ESG assessment system in 2021 powered by natural language processing (NLP), cognitive graphing, machine learning, and satellite remote sensing. The system was able to collect regulatory disclosure-based ESG data as well as alternative non-disclosure-based data to provide richer, multidimensional information. The recently upgraded ESG rating system has improved the accuracy and comprehensiveness of the data. It consists of 21 first-level indicators, 90 second-level indicators, and 278 data points to measure ESG risks and opportunities for 37 industrial sectors. The system can make real-time adjustments based on general news and sentiment.

The unique feature of the AI-based system is its ability to separately disclose company and performance results for a more comprehensive assessment of company disclosure and performance. The disclosure degree primarily examines the level of companies’ disclosure of information in traditional ESG data sources, such as ESG reports and annual results reports, with an emphasis on qualitative indicators. The performance score measures the performance of the ESG with an emphasis on quantitative indicators.

The system covers more than 4,500 A-listed companies and more than 2,700 companies Hong Kong Listed companies. It rates more than 4,600 corporate credit issuers and 58,000 green bonds in the bond market, nearly 140 fund management companies and more than 14,900 funds in the fund market. The system frequently updates the various data points – daily, monthly or bi-annually, depending on the type – and adjusts the results in real time based on the results of news sentiment.

Ping An The CN-ESG evaluation framework includes domestic and international disclosure standards and key frameworks for adaptation to the Chinese context. The grading framework refers to a number of prevalent ESG evaluation frameworks including GRI, HKEX, SASB, TCFD, Shenzhen Stock Exchange Social Responsibility Guidelines, and Shanghai Stock Exchange Social Responsibility Guidelines. Of all the core issues included in the CN-ESG framework, 87% overlap with at least one international framework and 13% of the indicators are specific to the Chinese context. Next, the CN-ESG framework will also focus on developing industry-specific physical indicators driven by in-depth fundamental industry analysis that will complement the existing set of fundamental indicators.

Ping An believes that responsible investing helps manage risk and contributes to achieving stable returns in the long run. This system has been implemented indoors Ping An Affiliates with investment business to support investment in ESG. From December 2021size Ping An Responsible investment and financing amounted to nearly 1.22 trillion yuanOf which Ping An Green investment and financing was on the verge 224.58 billion yuan. Comprehensive investment and financing was about to happen 68.467 billion yuansocial investment and financing was on the verge of 926,860 billion yuan, with the provision of 2,303 sustainable insurance products. The group is the first owner of a site origin from China which joined the UN-supported Network of Principles for Responsible Investment.

About Ping An Group

Ping An Insurance Company (Group) ChinaLtd. (“Ping An”) strives to become a world-leading retail financial services group. With more than 223 million retail customers and nearly 657 million Internet users, Ping An It is one of the largest financial services companies in the world. Ping An It focuses on two cross-cutting areas of activity, ‘Integrated Finance’ and ‘Healthcare’, covering the provision of financial and health care services through an integrated financial services platform and ecosystems in financial services, healthcare, automobile services, and smart city services. The “Finance + Technology” and “Finance + Ecosystem” strategies aim to provide customers and Internet users with innovative and simple products and services using technology. as such China The first joint stock insurance company, Ping An It is committed to upholding the highest standards of corporate reporting and corporate governance. The group is listed on the stock exchanges in Hong Kong And the Shanghai. Ping An It was ranked 6th on the Forbes Global 2000 list in 2021 and ranked 16th on the Fortune Global 500 list in 2021.

For more information, please visit the website www.group.pingan.com And follow us on LinkedIn – Ping An.

. SOURCE Ping An Insurance (Group) Company ChinaLtd.

.