Pinduoduo publishes ESG report to outline progress in managing environmental, social and governance matters
SHANGHAI, China, Nov. 11, 2020 (GLOBE NEWSWIRE) -- Pinduoduo Inc. (“Pinduoduo”)(NASDAQ: PDD) published its first ESG report to outline our progress in managing environmental, social and governance matters. The full ESG report is available on our website .
Pinduoduo was established in 2015 with the goal of bringing more value-for-money products and more fun to our users. For us, delivering the best value for money is not about squeezing suppliers for the lowest price, but about systematically examining each part of the supply chain to release more value for a win-win situation.
Both consumers and merchants have embraced our vision and the company has grown rapidly, hitting many milestones, including:
- Surpassing 1 trillion yuan in GMV in 2019
- Reaching almost 700 million users as of the second quarter of 2020
- Hosting more than 5 million sellers on our platform
- Connecting more than 12 million farmers through our agricultural initiatives
Our corporate social responsibility efforts are guided by the goal of promoting digital inclusion. We aim to bring more people into the digital economy so that local communities can enjoy the rewards of increased productivity and convenience and create value through new jobs and market opportunities.
“Pinduoduo, as a growing organization, will always dedicate itself to doing the right things, creating value for our society, and making this world a better and happier place,” Chen Lei, Chief Executive Officer of Pinduoduo, said in the report. “It is our hope that as the company grows in strength, we would have more resources and capabilities to achieve this goal.”
We are focusing our efforts to be a responsible corporate citizen and member of the community on several fronts:
1. Environmental impact
We seek to lessen our impact on the environment by re-engineering the traditional agricultural and manufacturing supply chains through our consumer-to-manufacturer (“C2M”) model and livestreaming to cut down layers of intermediaries, thereby reducing wastage and promoting efficiency and productivity.
2. Digital ecosystem
By building the digital ecosystem, we seek to empower more people and businesses through training and the sharing of knowledge through initiatives such as our New Brand and New Farmer initiatives. By enabling more aspiring entrepreneurs to start their businesses and create more jobs, we seek to be socially inclusive by bringing more people into the digital economy and sharing in its growth.
3. Investing in the future
By investing in the future through the promotion of basic scientific research and technological innovation, we seek to improve the overall level of governance and protect the public’s interest.
Below is a selection of articles below that outline our ESG efforts on several fronts:
How Pinduoduo helps cut the number of layers of distribution by digitizing the supply chain
The traditional multistage distribution model leads to unnecessary energy consumption and emissions because of extended delivery distances, excess packaging and the operation of warehouses. See how we help producers save on transportation and storage costs and lessen the impact on the environment by cutting the number of layers of distribution.
Consumer-to-manufacture revolution offers glimpse into retail’s future
In traditional retail, manufacturers produce what they think consumers want, then distribute them through a chain of wholesalers and retailers. Pinduoduo has flipped the model by aggregating demand and analyzing consumer spending patterns, so that manufacturers can make use of the insights to tailor their products to better fit market demand.
Pinduoduo's approach to bettering farmer livelihoods and revitalizing the rural economy
Injecting transparency into the agricultural supply chain and empowering farmers to tap into the online market for agricultural produce is the key to revitalizing the rural economy. By enabling farmers to become entrepreneurs and take greater control over their sales, new jobs are being created, unlocking more economic opportunities for local communities.
How Pinduoduo fights brushing and other illicit activities
Pinduoduo has a zero-tolerance policy toward any form of fake transactions that attempt to manipulate sales volumes, customer reviews or merchant ratings. To identify fake transactions, we have developed dedicated algorithms to screen for patterns of anomalous transactions and make inquiries to merchants if we suspect any “brushing” activities. We also adopt measures to remove the merchants’ incentives to use “brushing” by making it less effective.
Pinduoduo’s approach to data protection and distributed AI
Our technology infrastructure adopts a distributed artificial intelligence (“Distributed AI”) approach, which we believe in the long run would significantly improve data security on our platform and afford better privacy protection to our users.
About Pinduoduo Inc.
Pinduoduo is an innovative and fast-growing technology platform that provides buyers with value-for-money merchandise and a fun and interactive shopping experience. The Pinduoduo mobile platform offers a comprehensive selection of attractively priced merchandise, featuring a dynamic social shopping experience that leverages social networks effectively.
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