The People's Insurance Company of China (Hong Kong) Co., Limited Sustainability Profile
The People's Insurance Company of China (Hong Kong) Co., Limited, commonly referred to as PICC Hong Kong, is a prominent player in the insurance industry, headquartered in Hong Kong. Established in 1949, the company has evolved significantly, expanding its operations across major regions in Asia. PICC Hong Kong offers a diverse range of insurance products, including life, health, and property insurance, distinguished by their customer-centric approach and innovative solutions. The company has garnered a strong market position, recognised for its commitment to quality service and financial stability. With a rich history and a focus on meeting the evolving needs of its clients, PICC Hong Kong continues to achieve notable milestones, solidifying its reputation as a trusted insurance provider in the region.
DitchCarbon Score
How does The People's Insurance Company of China (Hong Kong) Co., Limited'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
The People's Insurance Company of China (Hong Kong) Co., Limited's score of 35 is higher than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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The People's Insurance Company of China (Hong Kong) Co., Limited currently does not report specific carbon emissions data, as indicated by the absence of emissions figures. The company is a current subsidiary of The People's Insurance Company (Group) of China Limited, which may influence its climate commitments and performance metrics. As a subsidiary, any climate-related initiatives or targets may be cascaded from its parent organisation. However, there are no documented reduction targets or climate pledges available for The People's Insurance Company of China (Hong Kong) Co., Limited. The lack of specific emissions data and reduction initiatives suggests that the company may still be in the process of developing its climate strategy or reporting framework. In the broader context, the insurance industry is increasingly focusing on sustainability and climate resilience, with many firms setting science-based targets and engaging in initiatives such as the Carbon Disclosure Project (CDP). The People's Insurance Company (Group) of China Limited, as the parent company, may have its own climate commitments that could impact the subsidiary's future strategies.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 322,010 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 6,963,040 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | 000,000 | 000,000 | 000,000 |
How Carbon Intensive is The People's Insurance Company of China (Hong Kong) Co., Limited's Industry?
How Carbon Intensive is The People's Insurance Company of China (Hong Kong) Co., Limited's Location?
The People's Insurance Company of China (Hong Kong) Co., Limited's Scope 3 Categories Breakdown
The People's Insurance Company of China (Hong Kong) Co., Limited's Scope 3 emissions, which increased by 155% last year and increased by approximately 275% since 2021, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 3% of total emissions under the GHG Protocol, with "Business Travel" representing nearly all of their reported Scope 3 footprint.
Top Scope 3 Categories
The People's Insurance Company of China (Hong Kong) Co., Limited'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.
The People's Insurance Company of China (Hong Kong) Co., Limited 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.
