At the 2026 Sustainable Global Leaders Summit held from October 20 to 22 at the Huangpu Expo Park in Shanghai, China Life Insurance Company Limited (ASX: 02628) Chief Compliance Officer Xu Chongmiao delivered a speech, stating that sustainability concepts have become deeply integrated into the overall economic and social development landscape, with industry consensus rapidly moving from ESG storytelling toward a pragmatic new phase of crunching real numbers.
Xu noted that last week, China Life (ASX: 601628) saw its MSCI ESG rating jump to AAA. This serves as both strong recognition of past efforts and a powerful motivation for the journey ahead. In the face of responsibility, the company will act as a pacesetter for sustainable development in the industry, translating commitments into transformational actions.
On the strategic level, the company will scientifically map out an operational emissions reduction roadmap, deeply embedding climate goals into its medium- and long-term development strategy, ensuring green value runs through the entire chain of business operations. By 2030, Scope 1 and Scope 2 emissions will be reduced by 10% compared to 2005 levels; by 2055, full carbon neutrality will be achieved.
On the action level, the company will continue accelerating the digital upgrade of ESG management, bringing the precision and depth of sustainability accounting to a new level. It will continuously strengthen the foundation of climate data governance, build a smart carbon management system, and drive carbon accounting and analysis toward digital and automated iteration, ensuring every emission has precise data support and every reduction step has measurable results.
At the same time, the boundaries of sustainable management should not stop within corporate walls. Beyond accounting for its own carbon footprint, the company will leverage investment and insurance linkages to drive upstream and downstream transformation. China Life will continue deepening value chain emissions management, focusing on investment portfolio carbon footprint tracking and climate risk identification, effectively accounting for the carbon, risk, and benefit dimensions of assets, promoting asset allocation in resonance with green development strategy, so that every investment carries clear sustainable value and achieves synergy between economic and environmental benefits.
Sustainable development is a long-term endeavor that requires sustained effort and multi-party collaboration. Amid the wave of transformation, China Life will always adhere to policy guidance, customer-first principles, finance for good, long-termism, and bottom-line thinking, turning challenges into opportunities and using refined ESG accounting logic to transform external uncertainties into certainties for high-quality development.
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