HONG KONG and SHANGHAI, Oct. 16, 2020
HONG KONG and SHANGHAI, Oct. 16, 2020 /PRNewswire/ -- Ping An Digital Economic Research Center (PADERC), a macroeconomic research arm of Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or "The Group", HKEx: 2318; SSE: 601318), says the increase in companies in China improving their environmental, social and governance (ESG) disclosures is an opportunity for technology companies to provide data solutions with artificial intelligence (AI).
"Many companies are willing to improve their ESG disclosure but lack the expertise and resources to do so. Meanwhile, investors are increasingly integrating ESG into their investment decisions, but are faced with limited data points," Chex Yu, Deputy Director of Strategy of Ping An Technology, said in a recent workshop organized by the World Economic Forum (WEF) in Beijing participated by leading industry experts in ESG.
"The pain points for wider ESG adoption present market opportunities for technology companies to provide solutions that make disclosure easier for companies, using artificial intelligence to improve availability of non-disclosure-based data."
With regulators expected to mandate ESG disclosures for listed companies soon, more companies are starting their ESG reporting. Ping An is developing new tools and models to improve the breadth and depth of disclosures. These include:
Ping An has its own ESG strategy around principles, risk management, tools and practices. It has pushed ESG adoption across many parts of the Group and has received market recognition for its efforts. The Group's MSCI rating was raised to A in 2020 from BB in 2018. It is also the only mainland Chinese financial company to be included in the Dow Jones Sustainability Index.
Ping An is developing its own AI-ESG Management Platform that is used in 40+ subsidiaries and accelerated the Group's annual sustainability report process by 22 days. It can help companies with ESG data collection, performance evaluation, task management and peer benchmark comparison.
About Ping An Digital Economic Research Center
Ping An Digital Economic Research Center utilizes more than 50 TB high frequency data points, more than 30 years of historical data and more than 1.5 billion data points to drive research on the "AI + Macro Forecast" and provide insights and methods towards precise macroeconomic trends.