PAAMC HK Announces Winning in ESG Leading Enterprise Awards 2022

PR Newswire

HONG KONG, Dec. 14, 2022 /PRNewswire/ -- Ping An of China Asset Management (Hong Kong) Company Limited ("PAAMC HK" or "Company"), the offshore asset management arm of the Ping An Insurance (Group) Company of China, Ltd. ("Ping An"), announced that it has been honoured that the Company has been honored with the ESG Leading Enterprise Awards 2022, recognized in the category of "ESG Investing". It is the second consecutive year the Company has won this award.

Ping An was the first China asset owner to be a signatory of the United Nations-supported Principles for Responsible Investment (UNPRI) and the first financial company in mainland China to release a TCFD (Task Force on Climate-Related Financial Disclosures) report in 2019. It has been rated A in the Morgan Stanley Capital Investment's (MSCI) 2022 Environmental, Social and Governance ("ESG") Ratings, ranking the first in multi-line insurance & brokerage industry in APAC^[i]. As a pioneer embodying Ping An's ESG strategy in its business activities overseas, PAAMC HK is committed to promote ESG and green investments in China and globally mobilizing capital to reduce carbon footprint.

In 2019, the Company launched the first China-focused green bond fund in the world, offering global investors with much-needed access to the second-largest green bond market in the world^[ii]. The fund imposes strict selection criteria to ensure alignment to global best practices by adhering to the Green Bond Principles and the Climate Bonds Initiative (CBI) standards.

Hoi Tung, Chairman and CEO of China Ping An Insurance Overseas (Holdings) Limited, said, "This esteemed award reaffirms PAAMC HK's leading position in ESG investment over this past year. We are committed to practices to promote and progress the concept of ESG with a focus on sustainability-themed investment strategies. We will continue to pursue innovation and expand our capabilities to offer more high-standard ESG and sustainability products to our investors."

Jointly presented by the Chinese Edition of Bloomberg Businessweek and Deloitte, the fourth ESG Leading Enterprise Awards announced and honored the winners on December 12. By recognizing Hong Kong-listed enterprises and asset management companies with outstanding ESG performance, this year's Awards calls for enterprises to uphold ESG best practices in post-pandemic times, and to strengthen Hong Kong's status as an international financial centre with sustainable business ecosystems.

Following a rigorous judging procedure advised by Deloitte that ensures credibility and objectivity, a panel of professional judges assessed the submissions based on participating enterprises' ESG governance mechanisms, goals and performance, as well as environmental and social initiatives.

[i] Source: Morgan Stanley Capital Investment's (MSCI) 2022 ESG Ratings, as of November 2022.