Empowering Communities and Environment: MINISO's ESG Journey

Rhea-AI Summary

MINISO, a global lifestyle brand, released its 2023 Environmental, Social, and Governance (ESG) report, showcasing improvements in employee welfare, advocacy for women, children, and pets, and advancements in environmental sustainability. The company's commitment to social responsibility, environmental excellence, and corporate governance shines through its various initiatives and achievements, positioning MINISO as a leader in ethical business practices and sustainability.

Positive

• MINISO's dedication to social welfare through charity projects for children, women, critical illnesses, disasters, and small animals highlights its commitment to community well-being.
• The company's proactive support for women, represented by 61.8% of senior management positions in China, demonstrates its commitment to gender equality and empowerment.
• MINISO's environmental initiatives, such as the 'MINISO ECO' label and efforts to reduce plastic bag consumption, showcase its commitment to sustainability and environmental protection.
• The company's top ratings in MSCI ESG Ratings and Wind ESG Ratings reflect its significant progress in corporate responsibility and sustainability efforts.
• MINISO's establishment of the 'MINISO Pet Protection Foundation' emphasizes its dedication to promoting a harmonious relationship between humans and animals, further showcasing its commitment to social responsibility.

Negative

• None.

GUANGZHOU, China, April 23, 2024 /PRNewswire/ -- Global lifestyle brand MINISO, renowned for its trendy lifestyle products, has released its 2023 Environmental, Social, and Governance (ESG) report, highlighting improvements in employee welfare, advocacy for women's and minors' welfare, and advancements in environmental sustainability. The report, anchored in MINISO's principles of long-termism, truth, and integrity, serves as a commitment of the company to a sustainable and harmonious society.

Advocacy for Women, Children and Pets' Welfare: MINISO's Holistic Approach to Social Responsibility

MINISO's dedication to social welfare forms a substantial part of its corporate identity, with the company actively promoting a number of charity projects around the five major themes of children, women, critical illnesses, disasters, and small animals.

MINISO recognizes the significant role of women in both professional careers and family life. In line with this, the has taken proactive steps to support women. One such initiative is the Marriage and Maternity Incentive Scheme, which offers additional support beyond standard benefits. With a dedicated allocation of RMB10 million, this scheme is accessible to all employees upon registering their marriage and childbirth. Furthermore, the notable increase in the representation of women in senior management positions in China, constituting 61.8% of total senior roles, underscores MINISO's commitment to empowering women in both the workplace and corporate decision-making.

MINISO's commitment to public welfare is evident through its RED Power initiative. In September 2023, the initiative collaborated with other companies to donate living and educational supplies worth over RMB520,000. Subsequently, in November of the same year, MINISO's RED Power extended its support by donating supplies like sanitary pads and winter study kits to over 1,000 students across two schools, amounting to over RMB200,000.

Meanwhile, the company is also pioneering corporate social responsibility with the "MINISO Pet Protection Foundation", which was established in December 2023. This collaboration with the Beijing Loving Animals Foundation aims to promote a harmonious relationship between humans and animals, aligning with MINISO's vision of a vibrant lifestyle. The foundation has pledged RMB10 million to support various animal welfare projects, including educational programs, scientific rescue efforts, youth advocacy, and search and rescue dog training.

Environmental Excellence: Sustainability at its Core

As part of its steadfast dedication to environmental conservation, MINISO is reshaping its product journey to significantly cut down carbon emissions. The company introduced the "MINISO ECO" label for products that adhere to strict environmental standards, including being plastic-free, recyclable, renewable, reusable, BPA-free, and lead-free. This label is increasingly visible across MINISO's product range as part of its shift towards a more environmentally friendly lineup. Furthermore, MINISO continues to implement multiple measures to reduce the consumption of plastic bags, aiming to decrease the percentage of plastic bag consumption to below 75%, with the percentage at 52% at the latest reporting period.

MINISO has obtained an "A" rating in the MSCI ESG Ratings and an "AA" rating in the Wind ESG Ratings, ranking first in the industry, which underscores a year of substantial progress, positioning itself as a model of corporate responsibility. Besides the release, the company has also made advancements in enhancing employee welfare, supporting gender equality, and quick humanitarian actions. These wide-ranging welfare initiatives, community involvement, and eco-friendly operations reflect MINISO's ethical business approach. Each step MINISO takes affirms its commitment to a future where business growth and societal well-being go hand in hand.

Click here to view the full 2023 Environment, Social and Governance Report of MINISO.

About MINISO

MINISO Group is a global lifestyle brand offering a variety of design-led lifestyle products. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand "MINISO" as a globally recognized retail brand and established a massive store network worldwide.

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SOURCE MINISO

FAQ

What is MINISO's ESG report about in 2023?

MINISO's 2023 ESG report focuses on improvements in employee welfare, advocacy for women, children, and pets, and advancements in environmental sustainability.

How does MINISO support women in the workplace?

MINISO supports women through initiatives like the Marriage and Maternity Incentive Scheme, offering additional support beyond standard benefits, and with 61.8% of senior management roles in China held by women.

What is the 'MINISO ECO' label?

The 'MINISO ECO' label is for products that adhere to strict environmental standards, including being plastic-free, recyclable, renewable, reusable, BPA-free, and lead-free.

What are MINISO's environmental goals regarding plastic bag consumption?

MINISO aims to decrease plastic bag consumption to below 75%, with the current percentage at 52% in its latest reporting period.

What are MINISO's ratings in ESG ratings agencies?

MINISO has received an 'A' rating in the MSCI ESG Ratings and an 'AA' rating in the Wind ESG Ratings, ranking first in the industry.