NETEASE, INC.,

NTES
Delayed Quote. Delayed  - 08/07 04:00:00 pm
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NetEase Details Social Efforts Its First ESG Report

06/30/2020 | 05:09am

By Farah Elias

NetEase Inc. issued its first environmental, social and governance report on Tuesday, offering some insight into the decision-making processes at the Nasdaq-listed Chinese company that recently held a secondary listing in Hong Kong.

"NetEase has always believed in the power of technology and the deep social responsibility that comes with it. As the company grew bigger...our social responsibilities also grew," Chief Executive William Ding said.

In the social space, the Chinese gaming giant said it has implemented anti-addiction systems in more than 80 online games, including time limits and in-game purchase limitations for minors. NetEase also participated in coronavirus relief efforts, including offering free online courses for Wuhan students and a 100 million yuan ($14.1 million) anti-virus fund.

NetEase has also taken environmental initiatives. These include sourcing physical servers from reputable manufacturers that meet energy-efficiency standards and cutting energy consumption at its offices by as much as 90%.

On governance, NetEase said it has six independent directors on its seven-member board. Its board committees are composed entirely of independent directors.

NetEase said it was one of three companies from China to be included in the 2020 Bloomberg Gender-Equality Index, which tracks the performance of companies committed to workplace gender equality.

 

Write to Farah Elias at farah.elias@wsj.com

 

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