GUANGZHOU, China, Oct. 25,
2023 /PRNewswire/ -- Vipshop Holdings Limited (NYSE:
VIPS), a leading online discount retailer for brands in
China ("Vipshop" or the
"Company"), announced that its MSCI ESG rating was elevated from
"A" to "AA", marking it as a leader among over 300 companies in the
consumer discretionary industry. The significant upgrade
underscores the international capital market's endorsement of
Vipshop's robust ESG management efforts and highlights its
commendable progress in sustainable development practices.
MSCI stands out as a premier global authority in ESG index
ratings. These ratings, highly regarded in the international
capital arena, serve as a pivotal reference for investors. MSCI ESG
Ratings range from leader (AAA, AA), average (A, BBB, BB) to
laggard (B, CCC).
In its 2022 ESG report released earlier this year, Vipshop
established a three-tiered governance structure that includes its
Board of Directors, an ESG Committee, and an ESG Task Force,
according to the report. The Company's ESG strategy, dubbed
"co-creation of a new sustainable life," emphasizes five areas: New
Sustainable Choices, Happy Consumption, Proactive Inclusivity,
Beautiful Society, Dependable Compliance.
As part of its stance on climate change, Vipshop has set
ambitious environmental goals, pledging to achieve carbon
neutrality in its own operations and a 50% reduction in Scope 3
carbon emission intensity, no later than 2030.
As outlined in the report, Vipshop has taken a comprehensive
approach and rigorously assessed its potential for carbon reduction
across its value chain. The Company actively champions
energy-saving measures to minimize emissions across various
scenarios. This involves joint efforts from consumers, partners,
and other key stakeholders to cultivate a sustainable, low-carbon
ecosystem.
Moreover, Vipshop champions causes such as women's empowerment,
rural revitalization, and aid for underprivileged communities. In
partnership with stakeholders, the Company has developed
sustainable philanthropic initiatives, exemplified by programs such
as V-Love Mothers and V-Love Charity Program.
A spokesperson for Vipshop remarked, "Vipshop has deeply
embedded the ESG principles within the Company's strategy and
business operations. Leveraging the momentum from this rating
advancement, we will uphold our philosophy of sustainable
development and work hard with our partners to jointly explore a
more inclusive, more environmentally friendly, and more harmonious
world, and establish a more lasting future."
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SOURCE Vipshop