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.

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.

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.