New China Life Insurance Sustainability Profile
New China Life Insurance Co., Ltd., commonly referred to as New China Life, is a prominent player in the insurance industry, headquartered in Beijing, China. Established in 1996, the company has rapidly expanded its operations across major regions, including Shanghai, Guangdong, and Jiangsu, solidifying its presence in the Chinese market. Specialising in life insurance, health insurance, and pension products, New China Life distinguishes itself through innovative offerings and customer-centric services. The company has achieved significant milestones, including being listed on the Hong Kong Stock Exchange in 2011, which has enhanced its market visibility and credibility. With a strong market position, New China Life Insurance is recognised for its commitment to financial security and customer satisfaction, making it a trusted choice for millions seeking comprehensive insurance solutions in China.
DitchCarbon Score
How does New China Life Insurance's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
New China Life Insurance's score of 26 is lower than 61% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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New China Life Insurance's reported carbon emissions
In 2022, New China Life Insurance reported total carbon emissions of approximately 18,126,520 kg CO2e, comprising 1,147,950 kg CO2e from Scope 1 emissions and 16,978,570 kg CO2e from Scope 2 emissions. Additionally, the company generated about 209,851 kg CO2e from Scope 3 emissions, specifically from waste generated in operations. This data reflects a slight decrease in Scope 1 emissions from 1,452,340 kg CO2e in 2021, while Scope 2 emissions also saw a reduction from 17,521,280 kg CO2e in the previous year. New China Life Insurance has not set specific reduction targets or climate pledges, indicating a lack of formal commitments to reduce emissions at this time. The company does not inherit emissions data from a parent organization, and all reported figures are directly sourced from New China Life Insurance Company Ltd. Overall, while the company has made progress in reducing its emissions, further commitments and initiatives would be beneficial in addressing climate change effectively.
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| 2021 | 2022 | |
|---|---|---|
| Scope 1 | 1,452,340 | 0,000,000 |
| Scope 2 | 17,521,280 | 00,000,000 |
| Scope 3 | - | 000,000.00 |
How Carbon Intensive is New China Life Insurance's Industry?
How Carbon Intensive is New China Life Insurance's Location?
New China Life Insurance's Scope 3 Categories Breakdown
Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 1% of total emissions under the GHG Protocol, with "Waste Generated in Operations" representing nearly all of their reported Scope 3 footprint.
Top Scope 3 Categories
New China Life Insurance's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
New China Life Insurance has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
