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Chinese enterprises in the beauty and daily care industry have made efforts to enhance ESG performance.
ESG
MSCI, the foremost authoritative global ESG index rating agency, recently released Shanghai Jahwa United's (600315:SH) most current ESG rating, ascending from the preceding year's BBB to a stellar A. This remarkable four-grade elevation in just two years positions the company as a standout performer in China's beauty and daily care sector, a testament to its unwavering commitment to sustainable practices.
MSCI, short for Morgan Stanley Capital International, holds an esteemed position as is an international institution providing global indices, and its ESG ratings have become a mainstream investment reference for international capital market. They serve as a reflection of listed companies' commitment to sound operation and standardized governance, qualities hence acknowledged for their potential to yield superior economic returns over the long run.
As one of the leading enterprises in the domestic beauty and daily care industry, Jahwa acting as a pioneer to introduce the ESG management model with a dedicated focus on "green and low-carbon ecological environment", "shared and win-win social value" and "better corporate governance" to conduct ESG activities.
In 2023, Jahwa has consistently refined its ESG management system, with a special emphasis on addressing critical concerns such as packaging materials and waste, chemical safety, traceability of raw materials, and product carbon footprints. The company has diligently updated and formulated a seriers of systems and policies, actively enhancing both the depth and breadth of its ESG information disclosure.
This year marks 123 years since Shanghai Jahwa's establishment and 20 years since the company's A-share listing. And the company maintains an unwavering commitment to long-term development and strives to minimize the negative environmental impact of associated with its production and operation process, as well as the entire life cycle of its products and services.
Concretely, in 2023, Jahwa has enacted comprehensive measures, including a carbon footprint tracking program throughout the value chain, which collects the carbon management performance data from its partners, and promotes the assessment in an orderly manner. As a vanguard in the industry, Jahwa also has made significant influence on its upstream and downstream suppliers with sustainability goals. Furthermore, the company continuously updates the list of chemical ingredients under concern based on the latest researches, policies and international laws and regulations. It has additionally introduced the EWG (Environmental Working Group) safety rating system and selected EWG-rated green raw materials as ingredients, a move aimed at relieving the safety anxiety of consumers.
Notably, the company has embarked on a clean energy initiative this year. It has initiated the installation of solar photovoltaic in Qingpu, Shanghai with a significant 4 MW installed capacity, yielding an estimated annual photovoltaic power generation of about 3.6 million kWh and an average annual carbon reduction of more than 2,000 tons. In addition, the company's "Feiyue Plan" is poised to alleviate carbon emissions from logistics transportation and warehousing activities in South China.
This year, Shanghai Jahwa released the first ESG report for listed companies in China's beauty and cosmetics industry, which comprehensively disclosed the company's initiatives and achievements in fulfilling social responsibility and promoting sustainable development. In the future, the company will carry out a series of more forward-looking goals, with the company achieving peak carbon emissions by 2025 and achieving full value chain carbon neutrality by 2050, setting an example for the entire industry.
As of press time, Jahwa closed at CNY 25.50 apiece, with a market capitalization of CNY 17,244 million.
The Influence of Leadership Change in Latin American Countries on Chinese Enterprises(One)
Sep 04, 2024 09:50 PM
Chinese Companies Going Overseas: Blindly Copying Foreign Companies is “Seeking Death”
Sep 04, 2024 08:37 PM