VIPSHOP Publishes First ESG Report: On the Path to Carbon Neutrality for a Better Future
GUANGZHOU, China, Aug. 5, 2022 /PRNewswire/ -- In July, VIPSHOP, a leading online discount retailer for brands in China, released its first ESG report, 2021 VIPSHOP Environmental, Social and Governance Report, detailing the company's endeavors and accomplishments in the areas of environmental, social and corporate governance in 2021 in terms of energy conservation and carbon reduction, responsible management, customer service and sustainable supply chain. VIPSHOP is on track to enhance its green and low-carbon development, with the goal of achieving the integration of its ESG initiatives across the entirety of the value chain and ensuring that the resulting social benefits lead to a better future.
In 2021, a leadership team with a focus on energy conservation and carbon reduction was established with the mission of developing a sound environmental management system that would ensure the effectiveness of the company's actions. At the same time, a greenhouse gas accounting tool was activated to identify all emission sources and prioritize the work that needed to be done to reduce them, leading to the adoption of targeted measures that cut carbon emissions and making VIPSHOP an environment-friendly workplace that had achieved meticulous energy management.
VIPSHOP has built a nation-wide network of logistics parks that include centralized heating and cooling systems, photovoltaic power stations, and green packaging systems resuting in further emission reduction and recycling. In 2021, the company produced 59,939 MWh of photovoltaic power, reduced the use of plastic materials by 237 tons, and achieved 100% recyclability of its plastic packaging.
Leveraging its strong capabilities in big data resources, platform support facilities, logistics and warehousing, VIPSHOP helps brand partners and suppliers improve their operational efficiency and reduce energy consumption, advancing the integration of energy saving and carbon reduction into the whole value chain.
In terms of corporate governance, VIPSHOP has developed a comprehensive, risk management-oriented internal control system that has already been fully integrated with business operations, with clearly and systematically defined rights and responsibilities. In 2021, the retailer established a Compliance Committee chaired by the Group Chairman, and chose January 14 as the company's annual Compliance Day. In the same year, all VIPSHOP employees completed their training on anti-corruption compliance.
VIPSHOP is putting in place all the processes and procedures to become an equal opportunity employer, creating a dynamic and inclusive working environment, and developing a sound employee training system that delivers mutual benefits to the company and its employees. In 2021, investment in staff training increased by 68.57% year-on-year, providing some 130,000 hours of instruction.
As for meeting its social responsibility commitments, VIPSHOP has rolled out a series of flagship public service programs, including VIP Mothers, VIP Love Charity, and VIP Love Workshop of the empowerment of women, rural revitalization, pandemic and disaster relief, community inclusion, and volunteer services. As of the end of 2021, VIPSHOP had spent more than 346 million yuan (approx. US$51 million) on its charitable activities.
Additionally, VIPSHOP has launched a platform to encourage public participation in philanthropy. In 2021, with the support of VIP Love Charity program and social communities, over 30 quality public service initiatives were launched resulting in more than 10.91 million members donating over 15.6 billion "VIP Love Points". The company's employees completed some 11,000 hours of voluntary services in the same year.
VIPSHOP, on a mission to improve the quality of life and enhance the experience of happiness, has been committed to creating and realizing value with its stakeholders, including employees, customers and partners. The company plans to continue enhancing its ESG management, upholding its social responsibilities, protecting the interests of all stakeholders and moving towards the goal of sustainable development.
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