GUANGZHOU, China, Dec. 23,
2022 /PRNewswire/ -- Vipshop Holdings Limited (NYSE:
VIPS), one of China's leading
online discount retailers, recently announced that its ESG-related
performance has been recognized by major rating agencies in the
capital market. The company retained an "A" from MSCI ESG Ratings
in 2022, above the average for the e-commerce sector. The discount
retailer also obtained a score of 46 in the Dow Jones
Sustainability Index (DJSI), as a top player in the global retail
sector, with outstanding performance in the rating components for
Product Packaging and Supply Chain Management.
This year, Vipshop strengthened its ESG-related efforts on all
fronts. In terms of the environment, the company has established a
special leadership team to ensure the effective implementation of
its energy conservation and carbon reduction plans by developing a
comprehensive environmental management system and a top-down
operation mechanism. The company expanded its big data resources,
and streamlined the platform support systems, logistics and
warehousing, to help brand partners and suppliers improve their
operational efficiencies and curb energy consumption, alongside an
integration of their decreased energy use with their carbon
reduction efforts across the value chain.
In the third quarter of 2022, for the first time, the company
conducted a systematic assessment of the feasibility of a
sustainable and green carbon reduction roadmap, taking a holistic
look at decarbonization opportunities along the value chain. It
implemented the use of new lightweight and environmentally-friendly
color bags, cutting plastic consumption by 123 tons, while
continuing to increase the utilization of clean energy, with the
total power generation capacity of photovoltaic power plants rising
by 11.4% year-on-year.
Seeking to create a better working environment, the company
provides equal work opportunities for all employees and stimulates
their potential through a comprehensive career enhancement system,
with the aim of achieving mutual benefits for Vipshop and its
employees. In 2021, the company's investment in employee training
increased by 68.57% year-on-year, with total training hours
exceeding 130,000. As for social responsibility and public service,
Vipshop has deepened its efforts in the empowerment of women, rural
revitalization, pandemic prevention and control, community
integration, and volunteer services through a series of flagship
public service projects including the V-Love Mothers, V-Love
Charity Program, V-Love Workshop and VIP Love Aid for Agriculture
programs, with total investment having reached RMB470 million as of the end of the third quarter
of this year.
Taking a look at corporate governance, according to the ESG
report released by the company in July
2022, Vipshop had created a three-tier social responsibility
management structure consisting of an ESG working group, a focal
point and an executor to clearly identify and assign social
responsibility management tasks at all levels. As an important part
of its CSR management practices, the company attaches importance to
the expectations and demands of stakeholders and integrates them
into its daily operations.
In line with meeting China's
goals to achieve carbon peak by 2030 and carbon neutrality by 2060,
ESG has been taken on substantial importance in the Chinese market
and has become a new benchmark for appraising the quality and
sustainable development capabilities of Chinese companies.
According to A Leapfrog Moment for China in ESG Reporting white paper
produced collaboratively by the World Economic Forum and PwC China,
China's listed companies are
increasingly familiar with both the challenges and benefits of ESG
reporting. ESG reporting in China
is at an inflection point, with a surge of activities from
regulators, exchanges, investors and corporate leaders.
The boom in ESG management in China has boosted the overall ESG performance
of Chinese companies. MSCI-ESG Ratings data shows that, in recent
years, more Chinese companies have emerged among the top performers
with A-AAA ratings. In the foreseeable future, Chinese companies
and the Chinese market may have a more profound impact on global
ESG development.
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SOURCE Vipshop