New China Life Insurance
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 56% 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 comprehensive approach to emissions reporting, as the company has disclosed emissions across all three scopes. Comparatively, in 2021, New China Life Insurance's total emissions were approximately 18,970,630 kg CO2e, with Scope 1 emissions at 1,452,340 kg CO2e and Scope 2 emissions at 17,521,280 kg CO2e. This indicates a reduction in total emissions from 2021 to 2022, highlighting the company's efforts to manage its carbon footprint. Despite these figures, New China Life Insurance has not set specific reduction targets or climate pledges, nor does it appear to have cascaded any targets from parent or related organizations. The absence of formal commitments suggests a need for further development in their climate strategy. Overall, New China Life Insurance is actively monitoring its emissions but may benefit from establishing clearer reduction initiatives to enhance its climate commitments.
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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 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
New China Life Insurance is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
