GlobalData offers a comprehensive analysis of China Reinsurance, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on China Reinsurance’s ESG performance. GlobalData’s company profile on China Reinsurance offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
China Reinsurance is focused on producing fewer greenhouse gas (GHG) emissions to tackle issues of climate change, the company aims to reduce its scope 1, scope 2, and scope 3 emissions. In 2022, China Reinsurance's annual comprehensive energy consumption amounted to 12,279.06 tons of standard coal. The company's energy efficiency stood at 0.73 kg of standard coal per RMB10,000 of revenue, indicating an improvement compared to the previous year. The per capita comprehensive energy consumption also witnessed a significant decrease compared to the same period last year. Total greenhouse gas emissions for the company reached 53,807.68 tons of CO2 equivalent. Among these, direct greenhouse gas emissions (Scope 1) accounted for 7,809.12 tons of CO2 equivalent, while indirect greenhouse gas emissions (Scope 2) were responsible for 45,998.56 tons of CO2 equivalent. The CO2 equivalent emissions per RMB10,000 of revenue amounted to 3.20 kg, showcasing a reduction in greenhouse gas emissions compared to the previous year.
The company's greenhouse gas emissions are calculated using emission factors based on the basic equations provided by the Intergovernmental Panel on Climate Change (IPCC) of the United Nations. China Reinsurance’s latest filings mentioned the keywords ‘Carbon’ and 'Emissions’ most number of times in relation to 'Climate Change'. The company's indirect greenhouse gas emissions (Scope II) include indirect greenhouse gas emissions generated by purchased electricity and heat during office operations.
In conclusion, China Reinsurance has taken steps to reduce its emissions and tackle climate change issues. The company has set specific goals related to scope 1, scope 2, and scope 3 emissions. The company has made investments to reduce emissions and has established a mutually beneficial long-term cooperative relationship with its partners.