China Development Financial Holding Corporation (CDF) is committed to achieving net-zero carbon emissions by 2045 through sustainability transformation. This year, CDF has been selected for the FTSE4Good Emerging Index for the seventh consecutive year, demonstrating its commitment to sustainability in environmental, social, and corporate governance. This international recognition highlights CDF's dedication to sustainable practices.
The FTSE4Good Emerging Market Index is a reference index for global socially responsible investment that evaluates companies based on their sustainable performance in environmental, social, and corporate governance (ESG).
CDF has completed the establishment of sustainability committees for its four subsidiaries, China Life Insurance, KGI Bank, KGI Securities, and CDIB Capital Group, to comprehensively upgrade the level of sustainability governance. Under these sustainability committees, there are six task forces focusing on corporate governance, social welfare, environmental sustainability, responsible finance, customer rights, and employee care.
To achieve sustainability, CDF is taking proactive steps to achieve a net-zero timeline by promoting green finance, sustainable supply chain management, and green operations. CDF is also aligning with international standards by signing up for the Partnership for Carbon Accounting Financials (PCAF) and adopting international investment and financing carbon emission management standards. These actions aim to establish a mechanism for managing climate change risks and working with its subsidiaries to develop green finance services that can assist industries in their green transformation and sustainable development.
In terms of green operations, CDF has committed to achieving its own net-zero carbon emissions goal by 2030 and has planned various decarbonization measures and renewable energy procurement projects. The new headquarters building and Beimen branch of KGIB installed solar panels in 2022, jointly generating 82.22 kWh of green electricity and reducing carbon emissions by 41.85 metric tons. Additionally, CDF will purchase 5 million kWh of green power annually for five years, with the amount purchased in 2022 equivalent to a reduction of 226.07 metric tons of carbon emissions. CDF will continue to strengthen its sustainability resilience, deepen its core functions, and become a leading financial enterprise in Asia.