On the brilliant stage of the 2024 Service Trade Fair, China Pacific Insurance, a subsidiary of China Pacific Insurance, joined hands with Zhongke Xingrui to jointly release the fruitful results of the research project 'Climate Risks and Responses in the Middle East and Pakistan Region' on September 14, marking a solid step forward for China Pacific Insurance in the global climate risk management field, especially in making breakthrough progress in safeguarding the Belt and Road Initiative overseas business.

Wu Bo, Assistant General Manager of China Pacific Insurance and General Manager of the Beijing Branch, said that in the Middle East and North Africa region in 2023, extreme weather events occurred frequently, from prolonged droughts to raging sandstorms, and catastrophic floods caused by hurricanes, all of which serve as a warning of the urgency and severity of climate change. These extreme events not only threaten the livelihood and safety of local people, but also shake the stability foundation of the region and even the world.

In the face of this global challenge, China Pacific Insurance, in 2024, cooperated with the China Meteorological Administration and Zhongke Xingrui to conduct in-depth research on extreme climate risks in the Middle East and Pakistan. This project fully utilized advanced meteorological data, satellite remote sensing technology, and artificial intelligence technology to accurately analyze the current situation and trends of flood risks in the Indus River in Pakistan. It also innovatively launched real-time prediction products for the region, providing unprecedented accuracy and timeliness for risk management, demonstrating the responsibility and commitment of China Pacific Insurance as an industry leader.

It is worth mentioning that, compared to the traditional assessment methods in the insurance industry, which rely on long time series and low granularity data, the vulnerability assessment method based on satellite remote sensing used in this project places greater emphasis on the use of data within the past decade's meteorological cycles, significantly enhancing the effectiveness and timeliness of risk assessment. This innovative move undoubtedly provides a new approach and tool for the insurance industry to address climate risks.

Experts from the China Meteorological Administration provided a comprehensive introduction to topics such as numerical forecast models and their applications, climate disaster warnings, and user-oriented products and services. At the same time, experts and corporate representatives from the industry engaged in enthusiastic discussions and exchanges on climate risks and response strategies, jointly providing advice and strategies to build a safer and more sustainable future.

China Pacific Insurance has always adhered to the three major principles of innovation, service, and cooperation. In key infrastructure, electrical utilities, energy, and other vital livelihood projects along the Belt and Road, it has provided comprehensive and solid risk protection for Chinese enterprises. The successful holding of the Middle East and Pakistan Meteorological Risk and Response Seminar is not only a dynamic practice for China Pacific Insurance to adapt to the new stage of overseas business development, but also an important demonstration of practicing new productive forces to promote high-quality development. In the future, China Pacific Insurance will continue to work with partners from all walks of life to jointly address the challenges of global climate change and contribute more wisdom and strength to the construction of a shared future for humanity.