Under the theme 'Cooperation in a Fragmented World', the World Economic Forum annual meeting held on 16 January 2023 brought together some 2,700 leaders from 130 countries, including 52 government heads of state, more than 1,500 business leaders and 90 innovators. , CMO of YSG (Yatsen Global) joined the meeting as Global Youth Leader 2022 and one of the 90 innovators in the discussion of key issues.
YSG is a leading player in beauty market, with the following colour cosmetics and skincare brands under its belt: Perfect Diary, Little Ondine, Abby's Choice, Galénic, DR.WU (its mainland business), and Pink Bear.
The company’s participation at Winter Davos this year is connected with sustainability in China’s cosmetic industry. Lei Sun shared the exploration and practice of YSG and its brand Perfect Diary in "New System for Energy, Climate and Nature" and "Consumers Beyond Waste Community" and other sustainability-related sessions. In the latest ESG rating 2022 by the world's largest index company, MSCI, YSG was upgraded to Level A, leading cosmetic brands.
According Lei Sun, consumer goods companies connect products and consumers, therefore concrete quality development relies on the sustainable operation and the collaboration between each link on the industry chain. She believes the whole community should stand up facing the challenges together, and all support and efforts count no matter from consumers or partners. "We hope to present the world with more sophisticated and sustainable 'Made in China' and 'Brand China', bringing everyone a new journey of exploring beauty."
Velvet Slim Lipstick: A showcase of sustainable beauty
Zhou Xun, Global Youth Leader 2011, performed in its first advertisement video as the global spokesperson of Perfect Diary. The motto "there's no script for my life; I take my path; I shine each step" encourages thousands of women to pursue their own life and live up to their dreams.
The carbon footprint certificate of Velvet Slim Lipstick starts a new chapter for the carbon footprint certification of cosmetic industry. In 2021, a third-party authoritative testing agency conducted a product carbon footprint assessment of Perfect Diary's "Velvet Slim Lipstick". According to the certificate, the carbon footprint of one Perfect Diary "Velvet Slim Lipstick" (Shade L02 and L04) is 507g of carbon dioxide equivalent (note: equivalent is the amount of a specific or commonly accepted value).
Although YSG is a young company, it is a pioneer of sustainability exploring and practicing in the new consumption cosmetic industry.
In December 2022, MSCI upgraded YSG rating to A, which is internationally recognised leading level. YSG shows good performance in its "carbon footprint" measures among its peers in the industry, and is an industry leader in the management of packaging material and waste; it has effectively reduced pollution from packaging materials through green packaging, lightweight packaging and recycling, etc.
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