THE WHAT? Yatsen has published its first Environmental, Social and Governance (ESG) report, which highlights the company’s strategic ESG initiatives. 

THE DETAILS The report covers the Chinese beauty company’s ESG-related initiatives from January 1 to December 31, 2021, as well as ‘data and information pertaining to certain material developments prior or subsequent to the Reporting Period.’

According to the company, “This report has been determined in accordance with a set of established procedures that include identifying and prioritizing material ESG issues, determining reporting boundary, collecting related information, preparing the report and reviewing the information as set out in the report.”

Covering corporate governance, product responsibility, responsibility for employees, environmental responsibility, and social influence, the report shows that 100 percent of employees took part in business ethics training, with 78.6 percent of employees being female. 

THE WHY? Yatsen CEO Jinfeng Huang, said, “In 2021, Yatsen celebrated its fifth anniversary and its first year as a listed company. Since establishment, we are committed to creating a new journey of beauty discovery for consumers worldwide. We also strive to create value for stakeholders, to seek sustainable development and to maintain our competitive edges amid a complex and ever-changing market environment. 

“Driven by digital technology, we continue to forge core capabilities such as product R&D, brand building and our Direct-to-Consumer (DTC) business model. We are also working to build a multi-brand portfolio, accelerate our global expansion and achieve high-quality sustainable growth across industry cycles.”