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    China Life utilizes its strengths and resources of its core business to align with the UN SDGs, and planned four sustainable development themes: "Low Carbon Transition," "Inclusive Finance," "Sustainable Finance," and "Corporate Governance Enhancement" in responding to global ESG trends. All sustainability goals set by China Life in 2022 have been achieved. For 2023, China Life will continue to set goals and schedules based on its four sustainability themes as it progresses towards a sustainable future.

    Sustainability Goals Implementation status in 2022 Short-term Goals Mid-term and Long-term Goals
    Climate Risk Governance
    • Supported the competent authority's amendment to the Risk Management Best Practice Principles for Insurance Companies.
      - Included physical risks and transition risks of climate change into the Company's risk management policy.
    • Included climate change assessments into the ORSA report and improved the description of the scope of impact.
    • Strengthened business continuity management measures and obtained the ISO 22301:2019 Business Continuity Management System Certification.
    • Include climate change related assessments, scenarios, and response plans into the ORSA report.
    • Strengthen carbon reduction management measures in coordination with the low carbon limit of China Development Financial Holding Corporation.
    • Optimize the climate risk management measures to improve the effectiveness of risk management.
    Green Operations and Carbon Management
    • Compiled statistics of electricity consumption in the workplace and established the baseline for electricity conservation.
    • Adopted environmental and energy management systems and continued to optimize green operations.
      - The head office building and Dunbei building obtained ISO 14001 Environmental Management System certification.
      - The head office building obtained ISO 50001 Energy Management System certification.
      - The head office building began using green electricity on December 1, 2022.
    • Expand the scope of ISO 14064-1 inventory to cover 100% of sales agent offices of China Life.
    • Complete the evaluation of water conservation plans for office staff and sales agent offices.
    • The head office building using 700,000 kWh or more green electricity.
    • Reduce carbon emissions from operations of office staff by 10% each year (2022 as the baseline year).
    • Gradually increase the use of equipment with the water conservation mark for office staff and sales agent offices: 50% and above by 2025 and 80% and above in 2027.
    • Head office building becomes carbon neutral green building by 2024.
    • Reduce carbon emissions from operations of office staff by 50% over five years (using 2022 as the baseline year).
    Transition to low carbon products and services
    • The insurance carbon footprint inventory project obtained ISO 14067 verification.
    • Established the baseline for insurance service carbon footprint.
    • Carry out insurance service carbon footprint reduction actions.
    • Obtain the carbon label from the Environmental Protection Administration base for insurance service carbon footprint.
    • Improve insurance service carbon footprint reduction.
    • Evaluate and apply for the carbon reduction label from the Environmental Protection Administration for insurance service carbon footprint reduction.
    Sustainability Goals Implementation status in 2022 Short-term Goals Mid-term and Long-term Goals
    Promotion of Inclusive Product Services
    • Continued to promote inclusive financial products in response to the special needs of the elderly and underprivileged groups.
      - Annual growth of premiums from micro insurance surpassed 10% and ranked third in the industry.
    • Completed the selection mechanism for discretionary investment account of investment-linked products, and included ESG investment strategy constituents.
    • Conducted a NPS survey to show concern for the voices of the elderly and underprivileged groups.
      - Expanded the scope of customer opinion surveys and added four key points of contact.
      - Improved the policyholder communication experience on digital platforms and established an experience engineer team to show concern and follow up on customer needs.
    • Provide products or marketing services suitable for the elderly or disadvantaged groups.
      - Premiums from micro insurance increase at an annual rate of 10%.
      - Top three in the industry in micro insurance premiums and promoting customized product portfolios.
    • Targets of the ESG investment strategy account for 25% of discretionary investment accounts for new investment-linked products.
    • Promotion of e-policies with utilization reaching 30%.
    • Overall NPS goal: 3rd in the industry.
    • Digital NPS goal: 5th in the industry.
    • Provide products or marketing services suitable for the elderly or disadvantaged groups.
      - 10% annual increase for premiums from micro insurance policies.
      - Top three in the industry in micro insurance premiums and promoting customized product portfolios.
    • Gradually increase the percentage accounted for by ESG investment strategy targets to 100% of discretionary investment accounts for new investment-linked products by 2027.
    • Gradually increase the utilization of e-policies to 70% by 2027.%
    • Overall NPS goal by 2025: 1st in the industry
    • Digital NPS goal by 2025: 3rd in the industry
    Social Participation
    • Went into local communities, integrated charity resources, and linked social enterprises for regional revitalization.
      - Annual office staff and sales agent volunteer service hours was nearly 42,000 hours.
      - Organized 4 social enterprise and charity organization sharing events with a total of 537 participants.
      - Worked with NPOs in developing co-branded cultural creative products and assisted beneficiaries with realizing self-value.
      - Implemented the China Life Hong Te Water Refill Project, promoted plastic reduction travel, and reduced annual carbon emissions by 1,508.96 kg.
    • Consulted the implementation of SROI and social impact analysis.
    • Increase the volunteer service hours of office staff to an average of 6 hours per person.
    • Match the core competencies of life insurance companies with the needs of various parties, help underprivileged groups become self-sufficient, help over 20,000 individuals through charity events.
    • Continue to implement China Life's Hong Te Water Refill Project.
    • Planning sustainability initiative events.動
    • Gradually increase the average annual volunteer service hours of office staff to 8 hours per person by 2027.
    • Number of charity event beneficiaries increases 5% each year.
    • Implement ISO 20121 sustainable event management measures to increase implementation benefits.
    • Assist local communities with establishing sustainability mechanisms and implement the social impact valuation system.
    • Continue to organize sustainability initiative events.
    Digital Finance Innovation Development
    • The digital health ecosystem collaborated with well-known fitness centers in activities that embed healthy lifestyles and concepts in the hearts of policyholders.
    • Increase customer satisfaction with develop the ecosystem through digital innovation and cooperation with partners in different industries.
    • Continue to optimize claim services through a customer-centric approach, and provide customers with paperless claim services.
    • Develop innovative plans to increase the convenience of services for the elderly.
    • Continue promote digital innovation, implement scenario-based finance, and create a sustainable ecosystem with partners in different industries.
    Continue talent cultivation
    • Enhanced leadership training and developed sustainable finance solutions.
      - Total training hours reached 2,827 hours and student recommendation and satisfaction exceeded 90%.
    • Planned an employee digital competency development blueprint, consolidated human capital in terms of FinTech talent, and shaped the organization's digital culture.
      - Offered over 10 courses for core soft skill training with a total of 2,803 training hours. Both student recommendation and satisfaction level exceeded 90%.
      - Received enthusiastic responses from the promotion of employee digital self-learning with total learning hours exceeding 20,000 hours.
      - Strengthened the cultivation of FinTech talent with a total of 2,861 hours and nearly 500 participants in competency training, enhancing the Company's competitiveness in big data, AI, information security, and InsurTech.
    • Expand leadership development of supervisors, develop leadership competencies for sustainability transition, and enhance the sustainability competitiveness of supervisors.
    • Develop a young generation talent pool, cultivate next sustainability leadership for the next generation, and empower companies in achieving sustainable development.
    • Strengthen new talent cultivation, employee skills redevelopment, and develop talent with an expertise in sustainable insurance, cultivating sustainable finance talent.
    • Strengthen performance management cycle, establish a performance-oriented culture, and realize the Company's sustainable development goals.
    • Continue to establish talent recruitment, retention, and cultivation plans to cultivate exceptional talent.
    • Become the employer of choice for outstanding talent and realize the vision of becoming a leading financial institution in Asia.
    Sustainability Goals Implementation status in 2022 Short-term Goals Mid-term and Long-term Goals
    Sustainable Investment Development
    • Reduced investments in high carbon industries to under 26% of the overall investment positions.
      - Using 2020 as the baseline year, reduced carbon emissions from the investment portfolio by 44%, increased the amount invested in green and sustainability bonds by 11x, and reduced GHG emissions by 317,000 metric tons/year.
      - Investments in high carbon industries accounted for 18.5% of overall investment positions in 2022.
    • Actively conducted investees carbon reduction engagement, and continued to track the carbon reduction progress of investees with high carbon emissions, and fulfill management duties in using policyholders' funds.
    • Keep investments in high carbon industries under 26%.
    • Compared with the end of 2020, carbon emissions from the investment portfolio decreased 15% by the end of 2023.
    • Compared with the end of 2020, increase the green investment position by 15% by the end of 2023.
    • Keep investments in high carbon industries under 26%.
    • Decrease carbon emissions from the investment portfolio by 35% compared with the end of 2020, by the end of 2027.
    • Increase the green investment position by 35% compared with the end of 2020, by the end of 2027.
    Sustainability Goals Implementation status in 2022 Short-term Goals Mid-term and Long-term Goals
    Enhance corporate governance
    • Arranged diverse continuous education topics for directors and continued to improve the board's ESG acumen.
      - Board members pay attention to ESG, climate change, green finance and IFRS 17, information security, and treating customers fairly issues. Total continuing education hours reached 180 hours and courses offered by external institutions accounted for 80% of overall hours.
    • Improved the structure of the sustainability report and enhanced benefits of information disclosure.
      - Adopted the SASB insurance industry standard in the 2021 Sustainability Report.
      - The 2021 Sustainability Report obtained the certificate for AA 1000 Type II moderate level of assurance.
    • Reference the continuous education planning of the director education map, continue to pay attention to courses on sustainable development-related topics, and continue to arrange courses on information security, corporate sustainability, sustainability report, climate change, and other ESG issues.
    • Provide the annual continuing education survey form to newly appointed directors in the 23rd-term Board of Directors, actively and periodically provide continuous education courses in the abovementioned fields, and encourage directors to take the courses.
    • Periodically report board member development plans and operating status to the Board of Directors to achieve the Company's sustainable development goals.
    • Focus on key items for the financial industry in the SASB Standards and obtain ISAE 3000 assurance.
    • Continue to pay attention to courses on sustainable development-related issues, and monitor revisions to the competent authority's policies to adjust course planning, including corporate sustainability, green finance, climate change, and other ESG issues or emerging issues.
    • Continue to pursue stable company development and improve operational safety and sustainability performance through board member development planning, successor planning, and continuous education courses.
    • Evaluate responses to new international sustainability disclosure frameworks/standards.
    Optimize sustainable supply chain management
    • Continue to optimize sustainable supplier management and embed the concept of sustainability into the industry value chain.
      - 100% of new suppliers signed the Corporate Social Responsibility Commitment.
      - Completed 12 supplier CSR self-evaluations and distributed promotional materials on corporate sustainability management.
    • Support the EPA's green office by adopting green purchasing.
      - Gave priority to products, hybrid vehicles, and electric vehicles with the environmental protection mark.
      - Gave priority to video conferencing to reduce energy consumption.
      - Listed green procurement and energy transition in the supplier CSR self-evaluation standards; listed the commitment to net zero emissions as extra credit for self-evaluation.
      - The green procurement reached NT$59.86 million in 2022 – the social innovation procurement amount was NT$14 million in 2022.
    • Optimize Sustainable Supplier Management.
      - 100% of new suppliers sign the Corporate Social Responsibility Commitment.
      - Send training EDM to suppliers and communicate energy conservation and carbon reduction with suppliers.
      - Complete supplier CSR self-evaluation and supplier evaluation (13 suppliers/year).
    • Net Zero Emissions
      - Purchases from suppliers that commit to net zero emissions reaches NT$10 million.
    • Promotion of Sustainable Procurement.
      - Support the EPA by continuing to engage in green purchasing.
      - Encourage suppliers to join social innovation organizations and purchases from social innovation organizations reaches NT$10 million.
    • Optimize Sustainable Supplier Management.
      - Complete the supplier CSR self-evaluation form in 2027 (18 suppliers/year).
      - Optimize supplier selection and risk management mechanisms: Optimize supplier evaluation procedures, compile a list of high risk suppliers (key suppliers), and formulate risk prevention measures.
    • Net Zero Emissions
      - Purchases from suppliers that commit to net zero emissions reaches NT$10 million.
    • Promotion of Sustainable Procurement.
      - Support the EPA by continuing to engage in green purchasing.
      - Encourage suppliers to join social innovation organizations and $10 million in purchases from social innovation organizations.