Ping An warns investors on ESG ratings
The Chinese insurance group says there are “perverse incentives” for selective non-disclosure of climate risks, which could potentially lead to greenwashing.
Chinese insurance and investment firm Ping An has urged a cautious approach to environmental, social and governance (ESG) ratings as some may reward opaqueness in climate risk disclosure, and said there was evidence of “systematic greenwashing” among high-emission companies.
“Some companies engaging in climate risk disclosure appear to be penalised by some ESG rating tools. This gives perverse incentives for selective non-disclosure, leading to greenwashing,” the Ping An Digital E…
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