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Tommee TippeeA Record High! Shanghai Jahwa’s MSCI ESG Rating Jumped to BBB
2022-10-26MSCI, a renowned international index compilation company, recently updated Shanghai Jahwa's ESG (environmental, social, and corporate governance) rating to BBB, a record high for Shanghai Jahwa. Due to its continued efforts, Shanghai Jahwa leads China domestic beauty and personal care industry in terms of the ESG performance.
MSCI ESG Rating is one of the ESG evaluation systems most recognized by global investment institutions. The upgrade of Shanghai Jahwa's MSCI ESG rating demonstrates that the company has gained high recognition from the capital market for its fulfilment of corporate social responsibilities and practice of sustainable development. Previously in 2021, Wind ESG has also upgraded Shanghai Jahwa’s rating from A to AA. With an ESG score of 8.57 (out of 10 points), Shanghai Jahwa ranked first in the industry.
Significant Progress on Various Aspects
In 2021, Shanghai Jahwa upgraded its corporate culture system. Based on the new corporate vision and mission, Shanghai Jahwa introduced ESG to be a company strategy of driving long-term sustainable development, in order to better carry out corporate responsibilities of the times. Shanghai Jahwa took the lead in domestic industry in setting the long-term goal of ESG development strategy. In its “Medium and Long-term ESG Strategy and Roadmap”, Shanghai Jahwa announced the promise of reaching carbon peaking in operating facilities by 2025 and achieving carbon neutrality across the entire value chain by 2050, earlier than the country’s national timeline. After more than one year of hard work and practice, Shanghai Jahwa has made significant progress in many areas of MSCI ESG rating system, including corporate governance, corporate behavior, product carbon footprint and product packaging:
Environmental
In 2022, the company has further decreased carbon emissions across the entire value chain. Through full life cycle management, Shanghai Jahwa has optimized the whole value chain with green raw materials to develop low-carbon or even zero-carbon products. Moreover, the company has further reduced its consumption of packaging materials and also enhanced its recycling and reusability; meanwhile, Shanghai Jahwa has used more clean energy for production, and continued to drive upstream and downstream suppliers to jointly promote green and low-carbon operation by optimizing logistic and green procurement. Since 2021, Shanghai Jahwa has made good progress in multiple respects of greener product packaging. For example, Liushen shower gel products have successfully made packages "slimmer" with the lightweight design of flip-top caps, decreasing plastic consumption by around 120 tons. In the same year, the company cooperated with suppliers to promote the reuse of cartons, successfully saving more than 100,000 cartons. In March, the company's brand Dr.Yu launched Macro-Molecule Fresh UV Protection Emulsion, an ocean-friendly sunscreen product which excludes sunscreen ingredients harmful to marine life (such as corals, shells, etc.) and designs a more environmentally friendly formula recommended by scientists.
Corporate Governance & Corporate Behavior
Shanghai Jahwa has promoted the diversification of the Board with more female directors, attached more responsibilities to the board’s professional committee, established the Strategy and Sustainable Development Committee, as well as Audit and Risk Management Committee. Furthermore, the company has strengthened the internal integrity education and set up an anti-money laundering management system, to better safeguard shareholders' legitimate rights and interests. Insisting on business operation in accordance with laws and regulations, Shanghai Jahwa has taken a series of anti-corruption measures. Through organizing and strengthening anti-corruption and integrity education, establishing an anti-money laundering management system and encouraging the reporting of corruption incidents, Shanghai Jahwa keeps improving its professional ethics system and ethical business culture.
Actively Taking on Social Responsibilities
In addition to above topics MSCI paying special attention to, the company has also actively undertaken other corporate social responsibilities:
Always Putting Consumers at the Center
The company is committed to creating the best products and services with dedication. Since 2021 when the latest regulation became effective, Shanghai Jahwa has put forward higher requirements for raw materials and product R&D. Based on an in-depth cooperation agreement with the global leading chemical company-BASF, Shanghai Jahwa has obtained exclusive cutting-edge raw materials and solutions customized for it, which can bring consumers more innovative and diversified product experiences, such as the Maxam Ferment Rice Essence which is popular among young consumers.
Caring for Employees
The company treats every employee as a family member, making every effort with kindness to ensure the safety of employees, grow together with employees, and to create a better work environment for employees: at the end of 2021, the company relocated its headquarter to provide employees with digital and intelligent office facilities; moreover, the company has kept upgrading training courses and has built internal communication platforms such as employee birthday parties and online staff communication meetings, to enhance employees’ sense of belonging; during the pandemic lockdown in Shanghai, the company has made one-to-one delivery of "love gift bag" for every employee to help meet their urgent needs for life necessities like food.
Giving Back to the Society
During the pandemic in Shanghai this year, the company has donated sanitary and skin care products to medical staff and volunteers fighting on the front line through Shanghai Charity Foundation, Shanghai Youth Development Foundation, Shanghai Red Cross Branch, China Soong Ching Ling Foundation and Ruijin Hospital. The total donation value reached more than 2.3 million yuan. In addition, Shanghai Jahwa has donated hygiene and cleaning materials to low-income residents in the community where the company is registered, donated living and study materials to ethnic minorities and poor students in mountain regions in Yunnan, Guizhou and other provinces, and donated materials for three consecutive times to the Zhanyi Center of Children Welfare Home which cares for autistic children.
This
year, in order to better carry out ESG concepts and strategies, together with
the School of Management of Fudan University, Shanghai Jahwa co-hosted a business
practice competition for part-time MBA students. The competition focused on
four major ESG topics: supply chain management, zero-carbon products, public
welfare planning and corporate data governance. Through in-depth interviews,
researches and competitions, the company and contestants aimed to jointly
develop effective and diversified solutions to improve the quality of listed
companies and help enterprises to grow to a new level.
In the future, Shanghai Jahwa will keep improving ESG practices and promoting ESG governance. Following the "123 operation principle" and the concept of “Born for Beauty, Strive for Goodness”, Shanghai Jahwa is committed to pursuing the best health and beauty products and services, to maximizing the value for our consumers, employees, shareholders, and entire society, to achieving sustainable development and presenting Chinese beauty to the world.
