Zhitong Finance App News. Recently, Musang Group Holdings (01817) released the “2023 Environmental, Social and Governance Report”. The group ensures the implementation of green development strategies by fulfilling its environmental responsibilities and implementing environmental standards throughout the product life cycle.

Musang Group Holdings is a leading fashion menswear company headquartered in China, and also covers the unisex fashion sector. In seeking to achieve business goals, the Board values and oversees the Group's efforts to balance business development needs with environmental, social and governance responsibilities. At the same time, the Group is committed to sustainable business development and maintaining continuous communication with stakeholders.

As a leading menswear brand, the group puts managing emissions, improving resource efficiency first, strictly complies with relevant environmental laws and regulations, strives to incorporate environmental awareness into internal management processes, encourages employees to take green environmental protection initiatives, and provides customers with sustainable fashion choices.

In fiscal year 2023, the total greenhouse gas emissions of the group were 1,495.9 tons of carbon dioxide equivalent, and the emission density was 64.2 tons of carbon dioxide equivalent per billion yuan. The exhaust gas generated by the group mainly comes from fossil fuel combustion in automobiles. Due to the reduction in total travel mileage, the total amount of exhaust gas generated by the group decreased by about 48.4% year on year, successfully achieving the 5.0% emission reduction target. The group is also committed to innovative product delivery or new methods in other business areas in daily operations to promote energy saving and emission reduction, such as adopting the “supplier - boutique (S2B)” business model and low-carbon travel methods. In 2024, the group aims to reduce exhaust emissions and greenhouse gas emissions by 5%, respectively, compared to 2023.

To help every employee reach their full potential in their career path, Musang Group Holdings regularly provides various training opportunities. In fiscal year 2023, a total of 560 employees from different levels and functional departments participated in various training programs, with a total of 4,475.5 hours, including 222 men and 338 women, accounting for 39.6% and 60.4% respectively. The average training time was about 7.5 hours and 8.3 hours. In terms of employee categories, 76 senior managers, 73 middle managers and 411 general employees participated in relevant training. The average training time was about 11.8 hours, 10.2 hours and 6.9 hours, respectively.

In terms of supply chain management, the Group has formulated supply chain management policies to establish effective monitoring mechanisms and encourage suppliers to adopt socially responsible practices. The Group has implemented an online supply chain management (SCM) system to evaluate supplier performance to ensure timely and high-quality delivery of goods; incorporated environmental standards into the supplier selection process to encourage suppliers to adopt eco-friendly products and services; and formulated detailed selection criteria for downstream distributors and the opening of new offline stores.

From raw material procurement, OEM production to packaging and inventory storage, the group implements strict quality control standards for business operations, supervises every stage of garment production, and improves every process and every detail to ensure optimal comfort and implementation of environmental protection concepts.

Furthermore, Musang Group Holdings has a strong sense of social responsibility and actively organizes and participates in various volunteer activities to promote the common growth of the Group and society. In fiscal year 2023, the group set up a charity fund to donate winter clothes to people affected by the earthquake in Gansu Province.

(Link ESG researcher Xie Yuxia)