Recently, Xinhuanet, together with the China Enterprise Reform and Development Research Institute, held the "2023 Enterprise ESG Development Forum" in Harbin, Heilongjiang Province. The forum aims to promote enterprises to implement ESG concepts and fulfill social responsibilities.
In recent years, ESG has become the "wind vane" for the sustainable development of Chinese enterprises, and many companies have excellent performance in ESG practice, ABC Life Insurance Co., Ltd. is one of them. At this conference, ABC Life was successfully selected as the 2023 Outstanding Corporate ESG Social Responsibility Practice Case for its excellent environmental, social and governance (ESG) practices.
2023 Corporate ESG Outstanding Social Responsibility Practice Case.
As a state-owned bank-controlled insurance company, ABC Life has been committed to playing an active role in ESG governance and sustainable development. The company not only actively practices the green concept in terms of the environment, but also effectively serves the people's livelihood at the social level, and adheres to the rule of law and strengthens compliance management at the governance level.
At the environmental level, ABC Life has stepped up its efforts to recruit talents in green investment management, green product research and development, and digital technology, and has successfully built a team of high-quality and professional green finance talents. The launch of a variety of accident insurance products has given full play to the professional advantages of life insurance and injected new vitality into the industry's green financial product chain. Participated in the carbon neutrality equity investment** led by the State Power Investment Corporation, and subscribed for the carbon neutral green corporate bonds of China Three Gorges Corporation. It not only actively supports the development of green industries such as photovoltaic and wind power, energy conservation and emission reduction, but also achieves a breakthrough of zero equity investment in the green industry. According to the data, the total amount of green investment in ABC Life Insurance for the whole year was 101.1 billion yuan.
At the social level, ABC Life has continuously deepened its county-level linkage with ABC and provided differentiated insurance protection services for county-level customers. Intensify financial services in the field of "three rural", actively integrate into the national strategy and regional development, continuously improve the service quality and efficiency of the real economy such as transportation, new energy, and manufacturing, and increase investment in the field of agriculture, agriculture, and the real economy16400 million yuan and 90.6 billion yuan. The data also shows that ABC Life activated 10 emergency plans for major emergencies throughout the year and handled claims cases from various channels12060,000 pieces, the amount of compensation is 89.5 billion yuan, of which 116 cases of "one-day compensation for critical illness" were handled, with a compensation amount of 15.51 million yuan, and a total of 229 customers were provided with warm reminders of health management services.
At the governance level, ABC Life continued to strengthen its party building work, launched the "Smart Party Building" system, resolutely implemented the requirements of comprehensive and strict governance of the party and enterprises, adhered to the rule of law, and strengthened compliance management. In order to give full play to the role of the "three lines of defense", training and publicity activities have been carried out, and all kinds of financial risks have been effectively and strictly controlled. And strive to improve the professional level and comprehensive quality of employees, and shape an excellent corporate culture.
The case review team of the forum highly appreciated ABC Life's ESG practice. They believe that the success story of ABC Life fully demonstrates the importance and achievements of enterprises in actively fulfilling their social responsibilities in terms of environmental, social and governance. This is a good reference for other companies and will help promote the attention and importance of corporate ESG practices in society as a whole.