CIIE time│China Pacific Insurance President Fu Fan: The insurance industry is an important participant and promoter of green development

　　

　　Hongqiao International Economic Forum is an important part of the China International Import Expo. On November 5, the 6th Hongqiao International Economic Forum “Developing Green Investment and Trade and Jointly Building a Global Ecological Civilization” sub-forum was held in Shanghai. High-level representatives and experts from government agencies, international organizations, academia and industry discuss how to better leverage trade and investment to scale up development and climate finance, and promote green by reshaping the global trade and investment policy agenda Technological development and innovation. Fu Fan, President of China Pacific Insurance, attended the forum and delivered a keynote speech as a special guest.

　　Fu Fan pointed out in his speech that the pace of green development continues to accelerate and has become an important endogenous driving force leading profound changes in China’s economy and society.The insurance industry is an important participant and promoter of green development.

　　Fu Fan said that in recent years, China Pacific Insurance has been committed to leveraging the professional advantages of insurance on the liability side and asset side, continuing to innovate in green financial products and service supply, and providing assistance and support for the green and low-carbon transformation of the economy and society.on the liability sideChina Pacific Insurance continues to make efforts in the fields of climate response, pollution control, clean energy, ecological protection, and carbon market construction. It has made a series of breakthroughs in the innovation of green insurance products such as new energy insurance, climate index insurance, and carbon insurance, and is leading the way. At the forefront of the industry.On the investment sideChina Pacific Insurance actively participates in green industry and infrastructure project investment through debt investment plans, equity investment plans, asset support plans, industrial funds, etc.In terms of green services, this year is the sixth year that China Pacific Insurance has participated in the CIIE services. We will join hands with the organizers of the CIIE to continue to upgrade the theme activities of “Zero Carbon CIIE, Zero Plastic Expo” and create a carbon inclusive mechanism for the public. Let the CIIE become the forefront of advocating green development and promoting green life. Currently, China Pacific Insurance has become a signatory of sustainable international organizations such as the United Nations Principles for Sustainable Insurance and the Principles for Responsible Investment. We hope to use the platform of international organizations to strengthen exchanges in the frontier areas of green finance, and while learning from advanced experience, we can make more Chinese voices heard and export Chinese solutions.

　　It is worth mentioning that this year marks the 10th anniversary of the “One Belt, One Road” initiative, which is also the decade in which China’s green development achievements have gone global. China Pacific Insurance responds to the national strategy and actively participates in the “Belt and Road” construction, continuing to provide risk protection services for green infrastructure, green energy, green transportation and other projects in the joint construction of the country.In Chile,China Pacific Insurance is the chief underwriter of the Pacific Hydropower Project, the third largest hydropower operator in Chile, with an installed capacity of 492,000 kilowatts, accounting for 8% of the Chilean hydropower market. As the main insurer, we underwrite the construction project of Santiago Metro Line 7, Chile’s largest municipal engineering project in recent years, which has the largest investment scale in recent years, injecting important impetus into easing local traffic pressure and promoting regional economic development along the line.In Pakistan,China Pacific Insurance underwrote the Lahore Rail Transit Operation Project, Pakistan’s first subway, helping Pakistan usher in the subway era. It has participated in underwriting the construction insurance of the Karot Hydropower Station for five consecutive years. It is the first hydropower investment project in Pakistan to be constructed entirely using Chinese technology and Chinese standards.In Vietnam,The chief underwriter of China Pacific Insurance has underwritten the Shuozhuang offshore wind power project during its operation period, with the installed capacity reaching 30 MW, ensuring the smooth operation of the project.

　　Fu Fan said that responding to climate change and promoting green development are the responsibility of the times for the financial industry, and are also CPIC’s solemn commitment to the future.China Pacific Insurance will continue to be based on its insurance origins, leverage the long-term advantages of insurance funds, increase support and services in areas such as energy transformation, green industry, green technology, and carbon finance markets, and build industry-leading green financial supply capabilities.The purpose of green development is to move forward together,China Pacific Insurance will actively carry out interaction and collaboration with upstream and downstream partners, strive to promote the unanimous action of the whole society in the direction of green concepts, earnestly shoulder the mission and responsibility of practicing sustainable development, and jointly contribute to creating a better future for all mankind. Wisdom and power!

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