China’s leading supply chain service provider JD.com published its 2021 ESG report on May 24 aligning with recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) for the first time, as reported by JD Corporate Blog on the same day. In 2019, JD.com joined the Science Based Targets initiative (SBTi) to set up a science-based climate target for the company, as one of the first Chinese business groups to do so. In its latest ESG report, the company restated its climate target of halving its carbon emission from 2019 levels by 2030. Moreover, the report contained a chapter dedicated to climate change-related risks. According to JD.com’s board chairman Richard Liu, the company incorporated TCFD in this year’s report with the intention to develop a risk governance strategy for 2030 and build its climate competitiveness.

In addition to climate ambition, JD.com’s latest ESG report outlined progress in building a technology-driven compliance system, upgrading its green supply chains, supporting the rural economy, and developing sustainable consumption behaviors and lifestyles. The company invested RMB1bn (USD150m) to achieve its target in its five-year green supply chain initiative called “Green Stream Initiative”. According to JD.com, this initiative cut the use of 10bn disposal packages in the Chinese e-commerce logistics sector and mobilized over 200,000 consumers and merchants along the supply chains. Apart from environmental efforts, JD highlighted its social responsibilities by continuously providing business opportunities for farmers and generating around RMB32m (USD4.8m) in agricultural production value.

Sources:

https://jdcorporateblog.com/jd-com-releases-2021-esg-report/

https://esgnews.com/jd-com-releases-2021-esg-report/

https://www.cqn.com.cn/cj/content/2022-05/24/content_8823146.htm

https://ir.jd.com/system/files-encrypted/nasdaq_kms/assets/2022/05/23/14-48-50/2021%20JD.com%20Environmental%20Social%20and%20Governance%20Report%20-20MB.pdf