Institution Theme Category Industry
  • Wellington Management
  • Environmental
  • Climate
  • Financial Services
Company Year Market Link
Ping An Insurance Company Of China 2019 N/A https://www.wellington.com/uploads/2020/10/4dc06a6392f39bcacb4ae0bcaa9a5aeb/664_11_a4_wmc.pdf

The ESG analyst and GIA led a call with the company to provide feedback on its ESG-related disclosure. Our discussion and feedback focused on three main areas: talent management, technology and cybersecurity, and ESG integration. Regarding talent, we suggested that the company provide more information about training programs, employee satisfaction, and board oversight of talent management. Regarding technology, the company has consistently allocated profits from its financial business to invest in technology that leads to better sales, fewer claims, and lower costs. We asked whether the company could share more information about reporting structure and cybersecurity spending. Finally, we encouraged management to demonstrate the importance of ESG integration into its investment process.
In early 2020, the company updated its sustainability report. We found it addressed many of our points and feedback. The company discussed its talent and development strategy, including its customized career development and education and employee stock ownership schemes. Consistent with prior disclosure, the report explained how the company combines finance and technology to develop inclusive finance and telehealth solutions. It has consistently allocated profits from its financial business to invest in technology that leads to better sales, fewer claims, and lower costs. Later in the year, the company demonstrated leadership in responsible investing practices by becoming the first Chinese asset owner signatory to the UN PRI.
We are encouraged by the company’s ambition to be a leader on ESG through its disclosure and progressive practices. We remain positive about the company’s long-term outlook and differentiated approach to technology. We will continue to engage to better understand the company’s approach to cybersecurity

Details

  • Proponent
  • Engagement
  • Resolution
  • Sustainability Efforts and reporting pertaining to talent management, technology and cybersecurity, and general ESG integration
  • Vote
  • N/A
  • Rationale
  • N/A
  • Details
  • N/A