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).
Screenshot of MSCI ESG Rating Outcomes for Vipshop
Solar Power Facility at Vipshop's Logistics Park in Central China
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."