Lufax Releases First ESG Report Highlighting Commitment to Inclusive Finance – PRNewswire

Lufax Releases First ESG Report Highlighting Commitment to Inclusive Finance PRNewswireLufax Releases First ESG Report Highlighting Commitment to Inclusive Finance PRNewswire

SHANGHAI, September 23, 2021 /PRNewswire/ — Lufax Holding Ltd (“Lufax”) (NYSE: LU), a leading technology empowered personal financial service platform in China, has today published its first Environmental, Social and Governance report. The report highlights the Company’s long-term commitment towards inclusive finance, improving financial access for small and micro-business owners, alleviating poverty in rural areas, and supporting the real economy as well as other societal benefits via FinTech innovations. The report gives a comprehensive overview of the Company’s ESG performance in 2020 and provides an overview of its commitment making retail borrowing and wealth management safer, more efficient, and easier. The report highlights achievements in corporate governance, providing inclusive financing for small and micro-businesses, strengthening consumer protections and contributing to poverty alleviation, rural revitalization, as well as green finance. Guangheng Ji (Chief of Lufax Holding) stated, “In this report we present our sustainability achievements, and express our determination for developing long-term value.” Lufax Holding is determined to keep ahead of the curve and seize emerging opportunities. We will continue to innovate and move forward, using positive financial services as our starting point. We will support inclusive finance, the wider economy, fulfill our corporate responsibilities, and create our own sustainability pathway. Ji stated that Ji’s goal was to be a benchmark in compliance and governance for overseas-listed Chinese companies. Ji noted that the ESG report covers many areas, including the following: Small and micro-business financing. Micro and small businesses are important contributors to economic and social development. They often face financing problems in their development, especially in 2020, when the COVID-19 pandemic presented unprecedented challenges around the globe. Lufax’s mission is to make retail borrowing simpler, safer, and more efficient. In 2020, Lufax’s retail credit facilitation subsidiary Ping An Puhui (“Puhui”) established a special loan channel to provide small and medium-sized businesses and individuals with loans during the pandemic. This initiative helped to alleviate the problems caused by limited loan channels and capital shortages due to the pandemic. Lufax provided inclusive finance to 2.76 million people in 2020. It has assisted more than 1.24million micro- and small-business owners. Lufax’s total inclusive credit was RMB 564.961 trillion by the end of 2018, with its balance of inclusive loans at RMB 545.149 million. Lufax supports public welfare and revitalizes the rural economy. The ESG report highlights that Lufax is committed in reducing poverty by offering products, services and products that empower vulnerable groups for long-term rural revival. Puhui, a subsidiary of Lufax, has launched innovative projects to increase financing access for those in need in less developed areas. A program that offers preferential loans for female entrepreneurs in less-developed regions to help rural women get work and entrepreneurship is part of the initiatives. Puhui also created a “Mom’s Sewing”, a program that provides sewing machines and production materials to local women in Liangshan prefecture. This program helps them monetize their traditional handicrafts. Puhui’s preferential agricultural loans program, which provides affordable, flexible, and convenient loans for rural entrepreneurs, also focuses on rural revitalization. Puhui also encourages rural revitalization with its “New Farmers for Poverty Alleviation” project. This project targets young talented farmers who want their communities to be rebuilt by starting businesses. Puhui provides emerging agricultural technology to help support sustainable development under this program. These projects have given rise to rural economic and industrial development in rural areas. They also support rural revitalization. Puhui currently has 13 provincial and urban initiatives that cover agriculture, animal husbandry and fishery. Puhui had provided more than RMB123 million in assistance funds to more than 300 rural entrepreneurs and cooperatives, directly supporting over 800 households that were financially disadvantaged by 2020. Lufax and China Foundation for Poverty Alleviation jointly launched “Big Country, Small Towns”, a plan to alleviate poverty. It aims to increase the industrial development of villages and towns in order to improve the local public welfare and income levels. The Company has developed a range of measures to reduce poverty, improve the prospects for young people’s careers, and protect the environment. Lufax, along with local industries, has created a sustainable development model called “Industry + Ecology” that will help people rise out of poverty and attain wealth. This model will provide a solid foundation to reduce poverty. Lufax invests in long-term rural development by focusing on affordable financing for rural communities, rather than donations. Lufax is developing green finance to support carbon neutrality. To help national and international goals of carbon neutrality, Lufax also established a green finance office. This office will drive Lufax’s business in a more sustainable way, encourage the development and adoption of green finance, and create a low carbon model for financial institutions. Lufax will continue to support green finance development, as highlighted in the ESG Report. This includes improving access to green financial services and products as well as introducing more net worth products and green funds like the ESG-related products offered jointly with “Lu Funds.” Online financial services such as Lufax’s Wealth Cloud can help to reduce the carbon footprint of financial services. “Wealth Cloud”, with its paperless system, has already saved 64.884 tons of papers compared to traditional brick-and-mortar systems. Lufax is committed to pursuing green finance and operations by replacing traditional offline marketing methods with cloud-based, environmentally conscious alternatives. Lufax is a technology-based company that enhances financial service quality. It has a professional team that provides services to small and micro businesses and individuals who need financing. They combine online and offline services. The Lufax service team helps customers in key areas like financing, planning, compliance with financial products, and avoiding investing traps. Lufax’s artificial intelligence (AI), has been used to enhance customer experience and protect consumer interests and rights. Customers can submit inquiries and requests to both AI robots as well as human agents via the phone, online, or mobile app. The AI customer service provides 24/7 financial education and customer support. It has a 99.8% intelligent recognition rate and a 93% customer satisfaction rate, which allows customers to quickly resolve any questions or issues. Lufax customer service agents also enjoy high levels of customer satisfaction thanks to the AI customer support platform. They have an answering rate 98% and a 95% on-the-spot settlement rate 95%. Lufax Holding’s ESG Report is prepared in accordance to the Environmental, Social and Governance Reporting Guide of Main Board Listing Rules of Stock Exchange of Hong Kong Limited (“HKEx”) and Global Reporting Initiative sustainability reporting standards. To learn more about Lufax’s ESG efforts and to view the report in full, please visit https://ir.lufaxholding.com/files/doc_downloads/2021/2021-9-18-ESG.pdf About Lufax Holding Ltd Lufax Holding Ltd is a leading technology-empowered personal financial services platform in China. Lufax Holding Ltd uses its customer-centric product offerings, offline-to-online channels, and offline-to-online channels to offer retail credit facilitation services for small business owners and salaried workers. It also offers tailored wealth management solutions for China’s rapidly expanding middle class. The Company’s unique hub-and-spoke business model is capital-light and allows for the delivery of the right products to the right people. It combines purpose-built technology applications, extensive financial services knowledge, and extensive data to provide the best possible service. For more information, please visit www.lufaxholding.com. Contacts
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Lufax Holding Ltd
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