SHANGHAI, Aug. 29,
2024 /PRNewswire/ -- ATRenew Inc. ("ATRenew" or the
"Company") (NYSE: RERE), a leading technology-driven pre-owned
consumer electronics transactions and services platform in
China, today announced its latest
Environmental, Social and Governance (ESG) scores as assessed by
S&P Global's Corporate Sustainability Assessment ("CSA")
released on August 23, 2024. ATRenew
achieved a notable improvement with an S&P Global ESG Score of
35 in 2024, up from 33 in the previous year. This places the
Company in the 93rd percentile among its global RTS retailing
industry peers, significantly surpassing the industry average.
The S&P Global CSA is a world-renowned assessment tool for
evaluating corporate sustainability practices. It provides a
comprehensive analysis of companies' ESG performance, considering
factors such as environmental impact, social responsibility, and
corporate governance. The assessment serves as a crucial reference
for stakeholders in making informed business and investment
decisions.
Building upon its robust ESG governance structure, ATRenew has
consistently integrated sustainability principles into its
strategic development and daily operations. The latest S&P
Global CSA scores reflect the Company's progress across all three
ESG dimensions. In the Environmental Dimension, ATRenew achieved a
score of 40, demonstrating strong performance in environmental
policy and management, energy efficiency, and sustainable packaging
practices. In the Social Dimension, the Company's score increased
substantially to 31 in 2024, from 20 in 2023. The increase was due
to notable progress in ATRenew's human capital management practices
and its efforts to prioritize occupational health and safety. In
the Governance & Economic Dimension, ATRenew recorded a score
of 31, showcasing its commitment to ethical business practices and
effective risk management.
The assessment identified climate strategy, human capital
management, and business ethics as among the most material drivers
of ATRenew's ESG performance. The Company also received high marks
in areas such as information security, cybersecurity, and system
availability, reflecting its dedication to protecting customer data
and ensuring operational resilience.
Kerry Xuefeng Chen, Founder,
Chairman, and Chief Executive Officer of ATRenew, commented, "We
are pleased to see our ESG efforts recognized in this year's
S&P Global CSA scores. As a leader in the circular economy, we
are committed to driving sustainable practices throughout our
operations. Our improved scores reflect the hard work and
dedication of our entire team in integrating ESG principles into
every aspect of our business."
ATRenew's commitment to transparency is evidenced by its high
data availability, with 71% of required disclosures and 66% of
additional disclosures made available to S&P Global. This level
of transparency significantly exceeds the industry average and
underscores the Company's dedication to open and ethical business
practices. Looking ahead, ATRenew remains committed to further
enhancing its ESG performance. The Company will continue to focus
on reducing its environmental footprint, improving social impact,
and strengthening governance practices. By doing so, ATRenew aims
to create long-term value for its stakeholders while contributing
to a more sustainable future for the consumer electronics
industry.
About ATRenew Inc.
Headquartered in Shanghai,
ATRenew Inc. operates a leading technology-driven pre-owned
consumer electronics transactions and services platform in
China under the brand ATRenew.
Since its inception in 2011, ATRenew has been on a mission to give
a second life to all idle goods, addressing the environmental
impact of pre-owned consumer electronics by facilitating recycling
and trade-in services, and distributing the devices to prolong
their lifecycle. ATRenew's open platform integrates C2B, B2B, and
B2C capabilities to empower its online and offline services.
Through its end-to-end coverage of the entire value chain and its
proprietary inspection, grading, and pricing technologies, ATRenew
sets the standard for China's
pre-owned consumer electronics industry. ATRenew is a participant
in the United Nations Global Compact, and adheres to its
principles-based approach to responsible business.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to"
and similar statements. Among other things, quotations in this
announcement, contain forward-looking statements. ATRenew may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about ATRenew's beliefs,
plans and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: ATRenew's
strategies; ATRenew's future business development, financial
condition and results of operations; ATRenew's ability to maintain
its relationship with major strategic investors; its ability to
facilitate pre-owned consumer electronics transactions and provide
relevant services; its ability to maintain and enhance the
recognition and reputation of its brand; general economic and
business conditions globally and in China and assumptions underlying or related to
any of the foregoing. Further information regarding these and other
risks is included in ATRenew's filings with the SEC. All
information provided in this press release is as of the date of
this press release, and ATRenew does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law.
Investor Relations Contact
In China:
ATRenew Inc.
Investor Relations
Email: ir@atrenew.com
In the United States:
ICR LLC.
Email: atrenew@icrinc.com
Tel: +1-212-537-0461
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SOURCE ATRenew Inc.