Continual Strides in Green Progress: QuantaSing Group's Ongoing Endeavours in Sustainable Development
August 01 2023 - 4:00PM
Sustainability, today, is not merely a trend but a deep-seated
priority. As evidenced by the 2021 Global Sustainability Study, a
considerable 85% of people have steered their consumption patterns
towards more sustainable products over the past half-decade.
Moreover, a significant 60% assert that sustainability is a
deciding factor in their purchases.
In this changing landscape, consumer expectations are evolving
too. They now demand that businesses not only provide goods and
services but also align with their own values. A growing preference
is emerging for ethical brands that advocate for environmental
friendliness, social justice, and diversity. In essence, consumers
are increasingly engaging with companies that reflect their
concerns and commitments towards creating a more sustainable
world.
Furthermore, embracing sustainable development has become an
imperative for every company.
The 17 Sustainable Development Goals of the 2030 Agenda,
instituted by the United Nations in 2015, form a collective
call-to-action for all societal pillars: governments, civil
society, business, science, and every individual. A robust and
inclusive private sector, in this context, works as a stabilizing
force, drawing investment, generating employment, and thereby
cultivating prosperous, sustainable communities. Simultaneously,
the act of advancing sustainable development reciprocates benefits
for businesses. It is a matter of simple logic: in the long run,
businesses cannot flourish unless the communities they serve and
the planet they inhabit are also thriving.
Businesses need to recognize that sustainability is not a
discretionary choice, but rather an operational imperative.
Transforming into a more sustainable enterprise may necessitate
initial investment, yet in the long-term, such initiatives foster
innovation, boost efficiency, and facilitate cost savings. In a
marketplace where sustainability is the currency, those who fail to
adapt run the risk of consumer attrition.
As public interest and scrutiny intensify around environmental,
social, and governance (ESG) matters, companies are navigating an
increasingly complex landscape of ESG disclosure requirements. The
U.S. Securities and Exchange Commission (SEC), for instance, has
proposed new regulations that may necessitate enhanced ESG
disclosures. Similarly, Japan has taken a step forward by enforcing
mandatory ESG disclosures for publicly listed companies. This
escalating trend across nations indicates a unified global
initiative, compelling companies to integrate sustainability more
thoroughly into their business operations. Hence, sustainability is
not only emerging as a key component of business strategy but also
as a legislative requirement.
Peering into the future, the game-changing shift unquestionably
lies in the realm of Environmental, Social, and Governance (ESG).
This is particularly evident with the impending introduction of the
Corporate Sustainability Reporting Directive (CSRD) by the European
Union.
As the engine of one of the world's largest and most vibrant
economies, Chinese enterprises are poised to take a leading role in
championing sustainable development. Through innovative business
models, international collaborations, strategic planning, and
astute corporate management, they hold the potential to effectively
catalyze a shift towards a sustainable future in business
practices.
QuantaSing Group(NASDAQ: QSG), the largest online learning
service provider for adult interest learning in China, and one of
the top five service providers in adult learning market in China
based on revenue in 2021, is a standout among them. On July
18th, at the Base Recognition and Cultivation Ceremony of the Zen
Millet (an initiative spearheaded by SEE, aiming to counter
the encroachment of desert landscapes in Alashan while safeguarding
its precious underground water resources), QuantaSing Group
publicly pledged its sustainability commitment by adopting a
10-acre Zen Millet cultivation base, setting an ambitious water
conservation target of approximately 5000 tons. Looking ahead,
QuantaSing Group intends to distribute the harvested millet amongst
its users, symbolizing a blessing for
the users' continued success cause grains such as millet
symbolize prosperity and abundance in Eastern cultures. Besides,
this initiative eloquently conveys the company's dedication to
sustainable development to its consumers.
Furthermore, China's 'dual carbon' objective has ignited a fresh
wave of sustainability initiatives, with Chinese enterprises
maintaining their leadership role as major market players in
sectors like energy, finance, and automotive. As of 2023, China has
established itself as the global frontrunner in electric vehicle
exports, charting a course towards a low-carbon future.
These advancements in sustainability by Chinese enterprises
mirror the nation's burgeoning leadership in the sustainable
economy. Their steadfast commitment to ESG principles underscores
their comprehension of sustainable development's significance - it
is not just an ethical mandate but a vital factor in preserving
investor trust, customer loyalty, and overall market stability. As
these companies persist in weaving sustainable development into
their business strategies, they are not only fortifying their
competitive edge on the global stage but also making a substantial
contribution to the worldwide sustainability agenda.
Leah Guo
QuantaSing Group Ltd.
ir at quantasing.com
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