China Life Upgrades Sustainability Governance to Realize Responsibility of Sustainable Finance

To strengthen the Board’s oversight and management of the sustainability-related issues, China Life leads the industry to upgrade the “Corporate Sustainable Development Committee” to a functional committee under its Board of Directors. The committee will report to the Board on a regular basis. This way, sustainability governance can be more deeply tied to the Board governance and sustainable development strategies can be more completed. Through injecting sustainability governance into corporate culture, these sustainability visions can be top-down introduced to each and every operation and business node, and become part of the employees’ DNA, creating long-term value for all stakeholders. China Life continues working toward the goal of becoming “the most recommended and trustworthy life insurer” and collaborating with parent company, CDF to realize the promises of implementing sustainability operation and achieving a net-zero asset portfolio by 2045. China Life takes the extra mile to establish six functional teams focusing on “Corporate Governance”, “Social Philanthropy”, “Environmental Sustainability”, “Responsible Finance”, “Client Relations”, and “Employee Wellbeing” to cover all aspects of sustainable finance. These functional teams can help integrate these themes into businesses and align with the functional teams on CDF-side to foster better collaboration and communication. The goal is to realize the social responsibility which the Group holds as a corporate citizen in the society.