How ESG plays a central role in giving a second life to all idle goods

New York City, New York Mar 14, 2022 (Issuewire.com) – As China’s leading used consumer electronics service and transaction platform, ATRenew (NYSE: RERE) aims to transform and advance the Chinese consumer electronics industry by facilitating recycling and transaction pre-owned electronic products (3C) and services, to connect and empower all ecosystem participants, while leading the way with Environmental Social Governance (ESG) initiatives. In their ESG report issued in 2020, the listed company outlined how they are making these core principles that play a central role in corporate development.

 

In Q3 2021[1], ATRenew has further improved the strategies of top-level governance and information security management and promoted sustainable practices among its employees and managers continuously. Xuefeng Chen, the founder, and CEO of ATRenew is a key driver of this initiative: “The structure of ESG is at the heart of our mission. As a global leader in the circular economy and used consumer electronics industry, we have been the first company in the pre-owned consumer electronics market to publish an ESG report which responds to the issue of carbon emissions in the recycling and the resale of electronic consumer products including mobile phones.

 

In 2020, working closely with leading Chinese e-commerce company JD.com (NYSE: JD) and other retailers, ATRenew recovered over 23 million used items, mostly electronics, for the second sale, while very small amounts were disassembled in an environmentally-friendly way which is unqualified, outdated or valueless. In 2020, it has dismantled about 225,000 electronic products, and reduce e-waste by 36.1 tons[2].

 

The Company also believes in the importance of the ‘Society’ element of ESG. In July 2021, ATRenew established the “AHS Charity & Love * Digital Education Fund” in partnership with the China Poverty Relief Fund and donated 5.05 million yuan (about $800000) to flooded schools and students in Henan Province. This was followed by the delivery of e-learning materials in September. Furthermore, it has launched “AHS* Digital Support Program For Village Children ” since 2018, for the purpose of the implementation of its environmental protection concept,  “To give a second life to all idle goods”. ATRenew filtered and donated part of electronic devices for village children to study, so that they could meet a broader world through the help of those digital products, and could receive better online education without the restrictions of regions.

 

ATRenew has established a three-tier ESG governance structure[3]. The Board has an ESG Committee (ESGC) to help build the ESG architecture, make high-level decisions, and oversee the implementation and optimization of the ESG strategy. The leadership team identified 30 ESG topics of interest by integrating the Global Reporting Initiative (GRI) standards and comprehensively analyzing ESG priority topics based on capital market index ratings, including MSCI, SASB, and Sustainalytics.

The ESG report is available for download here.

 

About ATRenew

Headquartered in Shanghai, ATRenew Inc. (ATRenew) (NYSE: RERE) operates a leading technology-driven pre-owned consumer electronics transactions and services platform. The mission of ATRenewwhich stands for “All Things Renew” is to give a second life to all idle goods reflects their commitment to build an enterprise with ESG embedded in its genes. ATRenew’s open platform integrates C2B, B2B, and B2C capabilities to empower online and offline transaction services of pre-owned electronic products.

Learn more

Website – www.atrenew.com

Twitter – @atrenewofficial