Core Viewpoint - Global climate governance is at a critical juncture, with 2025 marking the 10th anniversary of the Paris Agreement and the 5th anniversary of China's "dual carbon" goals, indicating a shift towards a more aggressive approach to climate change [1] Group 1: Climate Change Impact and Financial Sector Role - Climate change risks are escalating rapidly, with 2024 projected losses from climate-related disasters reaching approximately $320 billion globally, with insurance losses around $140 billion, significantly above the average of the past 30 years [2] - In China, direct economic losses from natural disasters are expected to reach 401.1 billion yuan in 2024, accounting for about 0.3% of the national GDP, with an average annual loss exceeding 360 billion yuan from 2012 to 2024 [2] Group 2: Insurance and Reinsurance Industry's Response - The insurance and reinsurance sectors are crucial in managing climate risks, transitioning from optional to essential roles in ensuring financial stability and fulfilling social responsibilities [3] - China Reinsurance (Group) Corporation is positioned as a key player in the reinsurance industry, integrating climate change responses into its corporate strategy and enhancing its climate risk management capabilities [4] Group 3: Innovations and Initiatives - China Re has developed a unique "China Re Plan" to systematically deepen climate risk research and enhance the supply of climate financial products and services [4] - The company has actively participated in pilot projects across 24 provinces, contributing to the establishment of a comprehensive disaster risk protection network [6] Group 4: Technological Advancements - Technological innovation is central to improving climate risk management, with China Re establishing a dedicated technology company for catastrophe risk research and developing proprietary disaster models [7] Group 5: Global Collaboration and Market Expansion - China Re is expanding its global footprint, with operations in 11 countries and regions, effectively dispersing domestic catastrophe risks internationally and learning from global best practices [8] Group 6: Future Plans and Strategic Goals - The company has outlined a clear development blueprint in its "Action Outline for Climate Change Response (2025-2035)," aiming to become a leading provider of climate risk management solutions by 2030 and a top-tier financial enterprise by 2035 [12][13] - The outline includes ten major actions focusing on enhancing national disaster insurance design, improving industry climate risk management, and participating in global climate governance [13]
深耕“十四五” 笃行践初心 中国再保以专业之力答好气候风险“必答题”