Core Viewpoint - China has established itself as a leader in green finance, with the largest scale of green credit globally and significant positions in green bonds and green insurance markets [1] Group 1: Green Finance Development - The demand for low-carbon transition is strong, and the momentum for green finance is robust in China [1] - China is committed to achieving its dual carbon goals and has built the largest and most complete new energy industry chain in the world [1] - The scale of green credit in China is the largest globally, with green bonds and green insurance markets also ranking among the top in the world [1] Group 2: Future Projections - It is projected that by 2030, the funding demand to meet carbon emission targets will exceed 25 trillion yuan [1] - The development space for green finance in China remains vast, indicating significant growth potential [1] Group 3: International Collaboration - In recent years, foreign institutions have introduced ESG rating systems and climate risk management tools to China, providing beneficial references for the development of green finance [1] - There is support for foreign investment to participate broadly in China's green finance market, contributing to global green low-carbon transition efforts [1]

Group 1 - The financial industry is accelerating the transition to a green low-carbon economy through deepening green finance, influenced by global climate governance and China's high-quality economic development [1] - The introduction of the "Guidelines for Sustainable Development Reports of Listed Companies" marks a significant change in the A-share market, transitioning to a new phase of "mandatory and voluntary disclosure" [1] - The guidelines will be implemented starting January 2025, requiring companies to disclose their 2025 sustainable development reports by April 30, 2026, with transitional arrangements to ease the pressure on businesses [1] Group 2 - The Ministry of Finance and the Ministry of Ecology and Environment will release the "Corporate Sustainable Disclosure Standards No. 1 - Climate (Trial) (Draft for Comments)" in April 2025, which includes six chapters and 47 articles covering governance, strategy, risk management, and more [2] - The new standards will require companies to disclose climate-related risks and opportunities, financial impact analysis, greenhouse gas emissions accounting, and carbon reduction targets, providing important guidance for high-quality information disclosure [2] - Listed banks will need to restructure their ESG reporting framework to ensure compliance with regulatory standards as the mandatory disclosure deadline approaches [2] Group 3 - The new disclosure requirements may pose challenges for some small and medium-sized banks due to potential historical data gaps or insufficient system support [3] - The report suggests that listed banks should integrate sustainable development concepts into strategic planning and governance structures, shifting ESG risk management from a supplementary role to a core decision-making factor [3] - Banks are encouraged to establish a regular climate risk stress testing mechanism, with major banks already conducting such tests under the guidance of the central bank, expanding from credit risk to liquidity and reputational risks [3]

Core Viewpoint - Climate change poses increasing challenges for insurance companies, with rising frequency and intensity of extreme weather events leading to higher claims and costs. The industry must shift from passive claims management to proactive defense by building a "climate immune system" [1]. Group 1: Climate Risk Management - Climate scenario analysis is a key tool for insurance companies to predict long-term climate trends and develop response strategies [1]. - Regulatory bodies are increasingly emphasizing climate risk scenario analysis and stress testing, pushing the industry from qualitative assessments to quantitative management [1][2]. - The International Sustainability Standards Board (ISSB) mandates disclosure of processes for identifying, assessing, prioritizing, and monitoring sustainability-related risks and opportunities [2]. Group 2: Importance of Climate Risk Management - Enhancing risk management capabilities is crucial as climate risks can lead to financial risks, necessitating improvements in climate risk management mechanisms [7]. - Insurance companies should leverage new opportunities and challenges in global climate risk management practices to enhance their international competitiveness [8]. - The insurance industry can contribute valuable insights and experiences in addressing climate risks, aligning with China's commitment to carbon neutrality [9]. Group 3: Tools and Strategies for Climate Risk Management - Companies should develop climate risk analysis tools that integrate traditional catastrophe models with forward-looking climate scenarios [10][14]. - It is essential to incorporate climate risk management into the overall risk management framework and processes of insurance companies [15]. - Increasing insurance coverage for climate change-related risks is necessary, as the current market shows gaps compared to international standards [16]. Group 4: Innovative Risk Mitigation Measures - Insurance companies should explore innovative risk transfer strategies, such as catastrophe reinsurance and insurance-linked securities, to mitigate potential losses from disasters [17]. - Adjusting insurance premiums can incentivize clients to enhance their resilience against climate risks, guiding them to take proactive measures [18].

彭博与周大福人寿今日共同宣布， 周大福人寿已扩充使用彭博企业解决方案，采用 MARS Climate 以助公司评估、量化和管理气候风险和机会。 拥有40年历史的周大福人寿是香港领先的 人寿保险公司，前身为富通保险。 通过MARS Climate，用户能够根据不同的综合评估模型全面地分析各种气候情景，这些模型和央 行与监管机构绿色金融网络（NGFS）的框架一致。MARS Climate 的转型风险模型由彭博新能源 财经的转型风险评估公司工具（TRACT）提供支援，结合企业活动、供应链风险水平和区域足 迹，在不同的 NGFS 气候情景下预测企业收入风险与机会。 周大福人寿执行董事兼副行政总裁暨首席财务官徐志坚先生 表示： 周大福人寿保险有限公司（"周大福人寿"）扎根香港近 40 年，为周大福创建有限公司（香港股份代号：659） 的全资附属公司，也是香港最具规模的寿险公司之一。作为周大福企业成员，周大福人寿紧扣郑氏家族（"周 大福集团"或"集团"）多元业务体系的雄厚资源 致力为客户及其挚爱家人于"生活 成长 健康 传承"的人 大福集团"或"集团"）多元业务体系的雄厚资源，致力为客户及其挚爱家人于"生活、成长、健康、 ...