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Vipshop Releases 2023 Environmental, Social and Governance (ESG) Report

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Vipshop (VIPS), a leading online discount retailer in China, has released its 2023 Environmental, Social, and Governance (ESG) Report. The company made significant strides in sustainability, consumer satisfaction, and social responsibility. Key highlights include:

- Progressing towards carbon neutrality goals with initiatives like photovoltaic power generation, reducing CO2 emissions by approximately 32,000 tons in 2023.
- Enhancing product authenticity through partnerships and improving the Super VIP (SVIP) program, resulting in a 13% year-on-year increase in active SVIP customers.
- Promoting workplace diversity and inclusion, employing 100 individuals with disabilities by the end of 2023.
- Investing over RMB 120 million in employee housing support and RMB 719 million in cumulative public welfare initiatives.

Vipshop's efforts demonstrate its commitment to creating a sustainable future while meeting consumer expectations for quality products and services.

Vipshop (VIPS), un importante rivenditore online di sconti in Cina, ha pubblicato il suo Rapporto Ambientale, Sociale e di Governance (ESG) del 2023. L'azienda ha compiuto notevoli progressi in termini di sostenibilità, soddisfazione del consumatore e responsabilità sociale. I principali punti salienti includono:

- Progresso verso gli obiettivi di neutralità del carbonio con iniziative come la generazione di energia fotovoltaica, riducendo le emissioni di CO2 di circa 32.000 tonnellate nel 2023.
- Miglioramento della autenticità dei prodotti attraverso collaborazioni e migliorando il programma Super VIP (SVIP), che ha portato a un aumento del 13% dei clienti attivi SVIP rispetto all'anno precedente.
- Promozione della diversità e inclusione sul posto di lavoro, assumendo 100 persone con disabilità entro la fine del 2023.
- Investimento di oltre 120 milioni di RMB nel supporto abitativo per i dipendenti e 719 milioni di RMB in iniziative di pubblica beneficenza cumulative.

Gli sforzi di Vipshop dimostrano il suo impegno a creare un futuro sostenibile soddisfacendo al contempo le aspettative dei consumatori in termini di prodotti e servizi di qualità.

Vipshop (VIPS), un importante minorista en línea de descuentos en China, ha publicado su Informe Ambiental, Social y de Gobernanza (ESG) 2023. La compañía ha logrado avances significativos en sostenibilidad, satisfacción del consumidor y responsabilidad social. Los puntos más destacados incluyen:

- Avances hacia los objetivos de neutralidad de carbono con iniciativas como la generación de energía fotovoltaica, reduciendo las emisiones de CO2 en aproximadamente 32,000 toneladas en 2023.
- Mejora de la autenticidad del producto a través de asociaciones y mejora del programa Super VIP (SVIP), lo que resultó en un aumento del 13% interanual en los clientes activos de SVIP.
- Promoción de la diversidad e inclusión en el lugar de trabajo, empleando a 100 personas con discapacidades para finales de 2023.
- Inversión de más de 120 millones de RMB en apoyo de vivienda para empleados y 719 millones de RMB en iniciativas acumulativas de bienestar público.

Los esfuerzos de Vipshop demuestran su compromiso con la creación de un futuro sostenible, mientras satisfacen las expectativas de los consumidores en cuanto a productos y servicios de calidad.

Vipshop (VIPS)는 중국의 주요 온라인 할인 소매업체로, 2023년 환경, 사회 및 지배구조(ESG) 보고서를 발표했습니다. 이 회사는 지속 가능성, 소비자 만족도, 사회적 책임 분야에서 두显된 발전을 이루었습니다. 주요 하이라이트는 다음과 같습니다:

- 탄소 중립 목표를 향한 진전으로, 태양광 발전과 같은 이니셔티브를 통해 2023년에 약 32,000톤의 CO2 배출을 줄였습니다.
- 파트너십을 통해 제품의 진정성을 향상시키고 Super VIP (SVIP) 프로그램을 개선하여, SVIP 고객이 전년 대비 13% 증가했습니다.
- 직장 내 다양성과 포용성을 촉진하며, 2023년 말까지 100명의 장애인을 고용했습니다.
- 직원 주택 지원에 1억 2천만 위안 이상, 누적 공공 복지 이니셔티브에 7억 1천 9백만 위안을 투자했습니다.

Vipshop의 노력은 소비자 품질 기대를 충족하면서 지속 가능한 미래를 창출하겠다는 의지를 보여줍니다.

Vipshop (VIPS), un détaillant en ligne de discount de premier plan en Chine, a publié son Rapport Environnemental, Social et de Gouvernance (ESG) 2023. L'entreprise a réalisé des avancées significatives en matière de durabilité, de satisfaction des consommateurs et de responsabilité sociale. Les points saillants incluent :

- Progrès vers les objectifs de neutralité carbone avec des initiatives telles que la production d'énergie photovoltaïque, réduisant les émissions de CO2 d'environ 32 000 tonnes en 2023.
- Amélioration de l'authenticité des produits grâce à des partenariats et à l'amélioration du programme Super VIP (SVIP), entraînant une augmentation de 13 % des clients SVIP actifs par rapport à l'année précédente.
- Promotion de la diversité et de l'inclusion en milieu de travail, avec l'embauche de 100 personnes en situation de handicap d'ici la fin de 2023.
- Investissement de plus de 120 millions de RMB dans le soutien au logement des employés et de 719 millions de RMB dans des initiatives cumulatives d'aide publique.

Les efforts de Vipshop démontrent son engagement à créer un avenir durable tout en répondant aux attentes des consommateurs en matière de produits et de services de qualité.

Vipshop (VIPS), ein führender Online-Rabatt-Händler in China, hat seinen Umwelt-, Sozial- und Governance (ESG) Bericht 2023 veröffentlicht. Das Unternehmen hat bedeutende Fortschritte in den Bereichen Nachhaltigkeit, Kundenzufriedenheit und gesellschaftliche Verantwortung erzielt. Zu den wichtigsten Highlights gehören:

- Fortschritte in Richtung Kohlenstoffneutralitätsziele mit Initiativen wie der Photovoltaik-Stromerzeugung, wodurch die CO2-Emissionen 2023 um etwa 32.000 Tonnen reduziert wurden.
- Verbesserung der Produktauthentizität durch Partnerschaften und Verbesserung des Super VIP (SVIP) Programms, was zu einem Anstieg der aktiven SVIP-Kunden um 13 % im Vergleich zum Vorjahr geführt hat.
- Förderung von Diversität und Inklusion am Arbeitsplatz durch die Einstellung von 100 Personen mit Behinderungen bis Ende 2023.
- Investition von über 120 Millionen RMB in die Wohnunterstützung für Mitarbeiter und 719 Millionen RMB in kumulative gemeinnützige Initiativen.

Die Bemühungen von Vipshop zeigen sein Engagement, eine nachhaltige Zukunft zu schaffen und gleichzeitig die Erwartungen der Verbraucher an qualitativ hochwertige Produkte und Dienstleistungen zu erfüllen.

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Adhering to brands discount retailing, co-creating a new sustainable life

GUANGZHOU, China, July 29, 2024 /PRNewswire/ -- Vipshop, a leading online discount retailer for brands in China ("Vipshop" or the "Company"), recently released its 2023 Environmental, Social, and Governance (ESG) Report (hereafter referred to as the "Report"). Vipshop took steps in 2023 to foster a low-carbon future, meet consumers' expectations for quality life, cultivate a diverse, equitable and inclusive talent ecosystem, and contribute to public welfare initiatives. Vipshop's goal is to collaborate closely with stakeholders to design, discover, and create a sustainable new life, according to the report.

In 2023, Vipshop continued to prioritize its energy conservation and carbon reduction initiatives, progressing toward its carbon neutrality goals—to achieve carbon neutrality in its own operations and a 50% reduction in Scope 3 carbon emission intensity, no later than 2030.

In its operations, Vipshop pursued emission reduction through a series of carbon mitigation measures, including photovoltaic (PV) power generation, the use of green electricity, and energy-efficient renovations. Notably, the Company's PV power has generated 58,355 MWh of electricity in 2023, equivalent to reducing approximately 32,000 tons of carbon dioxide (CO2) emissions.

Within its value chain, Vipshop championed green packaging and logistics, using more than 270,000 times of recycled cartons annually and collaborating with academic and research institutions to fund the R&D of biodegradable materials. Additionally, the Company optimized transportation routes and resource allocation, enhancing energy efficiency in logistics and subsequently reducing carbon emissions from certain suppliers.

A Glimpse Inside Vipshop Logistics Warehouse

The Company also unveiled the Vipshop Biodiversity Commitment, outlining a clear-cut strategy and action plans for engaging in biodiversity preservation. Notably, as a principal donor, Vipshop teamed up with The Nature Conservancy (TNC) to bolster the Beijing's Miyun Close-to-Nature Forest Management and Bird Habitat Optimization Project, fostering a new paradigm of harmonious coexistence between humanity and nature in the urban periphery.

Nationally Protected White-naped Cranes at Beijing's Miyun Close-to-Nature Forest Management and Bird Habitat Optimization Project  Photo: Song Huiqiang

In response to the growing consumer demand for high-quality and value-for-money products, Vipshop adopted a user-centric approach, curating an expansive selection of popular brands and authentic products through a dedicated global team of over 1,000 buyers. Furthermore, the Company worked closely with selected brands to develop merchandise specifically for the platform, known as "Made for Vipshop", to better differentiate its product offerings and provide exceptional value to customers.

In 2023, Vipshop formed a strategic partnership with China Certification & Inspection Group, further consolidating its product authenticity guarantees. Concurrently, Vipshop has enhanced the experience for its paid members, Super VIPs (SVIPs), by broadening the scope of benefits to include access to premium goods, improved services, and lifestyle privileges. The approach resonated with consumers, as evidenced by a 13% year-on-year increase in active SVIP customers to reach 7.6 million, accompanied by a notable uplift in membership renewal rates.

The Company also released the Commitment of Vipshop to Diversity, Equity, and Inclusion (DEI), aiming to advance workplace DEI culture on multiple fronts, including workforce diversity and fairness throughout the talent lifecycle.

Vipshop championed inclusivity for employees with disabilities, creating an equitable work environment through hardware enhancements and tailored disability-awareness training programs. By the end of 2023, the Company had 100 individuals with disabilities shining in the workplace. Additionally, Vipshop unveiled the Vipshop Women's Career Growth Report, empowering female colleagues to achieve personal and professional growth.

Vipshop invested over RMB 120 million in VIPer-home Apartment, offering employees secure and comfortable living spaces at about 90% off from market prices, significantly reducing their living expenses.

VIPer-home Apartment Interior

Vipshop intensified its efforts to empower women, revitalize rural communities, and innovate in internet-based public welfare initiatives by launching impactful initiatives such as V-Love Mothers, V-Love Charity, and the Langtou Village Rural Revitalization project. By the end of 2023, the Company's cumulative public welfare investments had reached RMB 719 million.

The Langtou Village Rural Revitalization project featured a variety of cultural endeavors, among them, ChunYangTai, HeChunZhu, the immersive digital exhibition "Painting China: A Journey of Calligraphy", and Lawn market fairs. The V-Love Mothers program has provided support to 174,000 single-parent families in need. In parallel, the For Westlake Women in Science program, backed by Vipshop, inspired young women to embrace scientific pursuits.

Aerial Panorama of ChunYangTai, a Vipshop-Donated Public Welfare Project  Photo: Tian Fangfang

View Vipshop's 2023 Environmental, Social, and Governance (ESG) Report:

English version:
https://ir.vip.com/sustainability 

Chinese version:
https://h5rsc.vip.com/esg/esg/index.html 

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SOURCE Vipshop

FAQ

What are Vipshop's (VIPS) carbon neutrality goals for 2030?

Vipshop (VIPS) aims to achieve carbon neutrality in its own operations and a 50% reduction in Scope 3 carbon emission intensity by 2030.

How much photovoltaic (PV) power did Vipshop (VIPS) generate in 2023?

Vipshop (VIPS) generated 58,355 MWh of photovoltaic (PV) power in 2023, equivalent to reducing approximately 32,000 tons of carbon dioxide emissions.

What was the increase in Vipshop's (VIPS) active Super VIP customers in 2023?

Vipshop (VIPS) reported a 13% year-on-year increase in active Super VIP (SVIP) customers, reaching 7.6 million in 2023.

How much did Vipshop (VIPS) invest in employee housing support in 2023?

Vipshop (VIPS) invested over RMB 120 million in the VIPer-home Apartment project, offering employees living spaces at about 90% off market prices.

What was Vipshop's (VIPS) cumulative public welfare investment by the end of 2023?

By the end of 2023, Vipshop's (VIPS) cumulative public welfare investments had reached RMB 719 million.

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