Notice by the General Office of the China Banking and Insurance Regulatory Commission of Issuing the Statistical System for Green Insurance Business
Area of Law： General Provisions on Insurance General Provisions on Environmental ProtectionLevel of Authority： Departmental Working DocumentsDate Issued：11-10-2022Effective Date：11-10-2022Issuing Authority： China Banking and Insurance Regulatory CommissionStatus： Effective
- Notice by the General Office of the China Banking and Insurance Regulatory Commission of Issuing the Statistical System for Green Insurance Business
- All insurance companies:
- For the purposes of implementing the new development concept, maximizing the positive role of insurance in establishing and improving the green, low-carbon and circular development economic system and promoting the comprehensive green transformation of economic and social development, in accordance with the requirements set forth in the Notice by the China Banking and Insurance Regulatory Commission of Issuing Guidelines on Green Finance for the Banking and Insurance Industries (No. 15 , CBIRC) and other documents, the China Banking and Insurance Regulatory Commission (“CBIRC”) has developed the Statistical System for Green Insurance Business (hereinafter referred to as the “Statistical System”), which is hereby issued for your compliance and implementation. You are hereby notified of the following matters:
- Green insurance is a general term for the economic activities of the insurance industry to provide protection against risks and financial support in such respects as environmental resource protection and social governance, operation of the green industry, and green living consumption. The liability side includes insurance products and services provided by insurance institutions by focusing on green, low-carbon and sustainable development; and the asset side includes investment in green industries by insurance funds. Under the principle of emphasizing key points and prioritizing urgent use, statistics may only be conducted for the green insurance business on the liability side under the Statistical System.
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