Hong Kong-based life insurer CTF Life has received official validation from the Science Based Targets initiative (SBTi) for its ambitious carbon reduction goals, marking a key milestone in its ESG and carbon neutral strategy. The company aims to cut absolute Scope 1 and 2 greenhouse gas emissions by 37.8% by FY2029, aligning its climate commitments with the Paris Agreement. 

The SBTi validation not only reinforces CTF Life’s commitment to decarbonisation but also provides stakeholders with transparent, science-based benchmarks to assess its climate progress. As the first company from the banking, diverse financial, and insurance sector operating primarily in the Greater Bay Area to submit a carbon reduction commitment letter to SBTi, CTF Life sets a regional precedent in corporate climate leadership. 

In addition to Scope 1 and 2 emissions, CTF Life is also addressing its Scope 3 emissions, which encompass its investment and lending portfolios. The company has committed to reducing greenhouse gas emissions per megawatt-hour (MWh) from the electricity generation sector in its listed equity and corporate bond portfolio by 59% by FY2029. Moreover, it pledges to allocate at least 44.8% of the invested value in that portfolio to companies with SBTi-validated targets within the same timeframe. 

Executive director and CEO Man Kit Ip emphasized that climate action represents both a responsibility and an opportunity for long-term impact: “The validation of our targets underscores our unwavering commitment to reducing emissions across our operations and investment portfolio… while creating value beyond insurance for our stakeholders.” 

This move demonstrates how CTF Life is integrating ESG principles across its core operations and financial activities, advancing Hong Kong’s position in sustainable finance and supporting broader global efforts to transition toward a low-carbon economy. 

Sources: 

https://www.asiainsurancereview.com/News/View-NewsLetter-Article/id/91200/Type/eDaily/Hong-Kong-Insurer-s-commitment-to-decarbonisation-validated 

https://sloveniatimes.com/42973/ctf-lifes-carbon-reduction-targets-validated-by-sbti-reinforcing-the-companys-commitment-to-climate-action