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HONG KONG, Aug. 7, 2024 /PRNewswire/ -- Stella International Holdings Limited ("Stella" or the "Group"; SEHK: 1836), a leading developer and manufacturer of quality footwear and leather goods products, is pleased to announce that it has received an upgraded MSCI ESG Rating of 'A', an improvement on its previous 'B' rating.
The upgraded rating reflects the Group's ongoing efforts to adopt better sustainability and transparency practices. In 2023, the Group established clear sustainability objectives, targets and strategies through which to contribute to the broad shift towards sustainable and responsible practices within the footwear manufacturing industry. In 2024, it has organised supplier conferences to strengthen its impact on its supply chain, while taking further steps to strengthen its corporate governance.
Under the guidance of its four Sustainability Development vision pillars and its "One Stella, Smart Stella" blueprint, which embodies the values of caring, cooperation and innovation, the Group also achieved the following milestones over the past year:
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Sourced over 6% of its annual energy consumption from renewable sources, with ongoing efforts to expand renewable energy infrastructure through the installation of rooftop solar PV systems across its manufacturing facilities
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Initiated a Group-wide Scope 1-3 carbon inventory that adheres to the stringent standards of ISO 14064, enabling more transparent reporting and proactive monitoring of its carbon footprint across its value chain
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Investing in the empowerment of our employees, increasing average training hours by more than three-times
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Implemented digital tools as part of its 'Smart Stella' initiative to improve data accuracy and traceability, leading to more efficient operations and enhanced ESG management
Mr. Chi Lo-Jen, Chief Executive Officer of the Group, commented, "The upgrade by MSCI ESG Research underscores our commitment to sustainability and journey towards greater transparency, sustainability and stakeholder engagement. We look forward to driving more positive change within Stella and the industry."
MSCI ESG Research provides MSCI ESG Ratings on global public and a few private companies on a scale of CCC (laggard) to AAA (leader), according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers.
For further details on the Group's ESG initiatives please visit our website at https://www.stella.com.hk/esg-reports.html.
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About Stella International Holdings Limited
Stella International (SEHK: 1836) is a leading developer and manufacturer of quality footwear and leather goods. A trusted partner to many of the world's most sought-after brands, it offers a unique proposition of unparalleled craftsmanship, production flexibility, and strong speed-to-market and commercialization capability, supported by a broad, diverse and proven manufacturing base across China and Southeast Asia.