Zhong Guo Jing Ying Bao·2025-06-21 02:18Core Viewpoint - China People's Insurance Group (PICC) aims to leverage its unique position in the insurance industry to support green development through innovative products and services, establishing standards, and becoming a long-term investor in the green economy [1] Group 1: Green Development Initiatives - PICC has established a community for urban and rural residential catastrophe insurance and developed a "PICC Meteorological Index Insurance Pricing Model" to expand catastrophe insurance coverage to multiple disaster causes, including typhoons and floods, covering 4.1 billion people across 20 provinces and 118 cities by 2024 [2] - The company plans to enhance the operational mechanism of the catastrophe insurance community and develop a catastrophe risk quantification model tailored to China's disaster realities, promoting diverse catastrophe insurance forms such as catastrophe bonds [2] - PICC is focusing on positive incentives through the development of green insurance products like new energy vehicle insurance and green building insurance, while also implementing negative constraints via environmental pollution insurance to correct negative externalities [2] Group 2: Green Insurance and Investment - In 2024, PICC signed the United Nations Principles for Sustainable Insurance (PSI) and established a green finance committee, creating a unified green insurance statistical system and an ESG risk assessment system for insurance clients [3] - The company provided risk coverage of 184 trillion yuan in green insurance, insuring 11.59 million new energy vehicles, a 57.3% year-on-year increase, and offering environmental pollution liability risk coverage of 19.7 billion yuan [3] - PICC is implementing green investment guidelines and creating ESG-themed products, with a planned investment scale exceeding 100 billion yuan in green development by 2024 [3] Group 3: Support for Shipping Industry - During the 2025 Lujiazui Forum, PICC and Bank of China jointly released an action plan to support the construction of the Shanghai International Shipping Center, focusing on financial services for shipping safety, convenience, and green transformation [4] - The "CSI Bank of China-PICC Shipping Development Theme Index" was launched to reflect the prosperity of the shipping industry, selecting 50 securities from various sectors related to shipping and logistics [5] - PICC aims to leverage its global advantages and lead in shipping insurance, creating an open cooperation platform for domestic and foreign shipping, shipbuilding, port, and logistics entities [5]