Yiren Digital (YRD) Champions Sustainability and Social Responsibility in 2024 ESG Report
- Yiren Digital emphasizes "Better Lives Through Digital Innovation," focusing on sustainability and social responsibility in its ESG report.
- The company promotes financial inclusion, facilitating over RMB 53.6 billion in loans for 4 million clients, especially small businesses.
- Yiren Digital reduces its carbon footprint, achieving energy efficiency in 90% of office equipment and decreasing greenhouse gas emissions by 5%.
Yiren Digital's Commitment to Sustainable Development and Social Responsibility
Yiren Digital Ltd. (NYSE: YRD), a leader in AI-driven financial and lifestyle services in Asia, recently unveils its annual ESG report for the year ending December 31, 2024. This report emphasizes the company's mission of "Better Lives Through Digital Innovation," reflecting a strong commitment to environmental sustainability and social responsibility. Chairman and CEO Mr. Ning Tang articulates the necessity of sustainable development, asserting that businesses play a critical role in addressing environmental and social issues. The report showcases Yiren Digital's multifaceted approach to sustainability, which integrates technological advancements with a focus on creating positive societal impacts.
In 2024, Yiren Digital successfully implements its "AI + Multi-use Cases" strategy, achieving high customer satisfaction rates across various sectors: 94% in financial services, 98% in insurance brokerage, and 96% in lifestyle solutions. The company’s innovative Hawkeye anti-fraud model stands out for intercepting 16,800 fraudulent loan applications, resulting in a prevention of losses amounting to RMB 180 million. In addition, further manual interventions contribute to an additional savings of RMB 54.43 million. Through prioritizing information security, Yiren Digital completes 37 security tests, successfully defending against millions of cyber threats, which underscores its commitment to both customer trust and service integrity.
Equally noteworthy are Yiren Digital's efforts in promoting financial inclusion. The company facilitates over RMB 53.6 billion in loans for more than 4 million clients, with a particular focus on empowering small business owners and women entrepreneurs. Furthermore, the company provides over RMB 86 billion in risk coverage for gig economy workers and engages in programs aimed at child development and rural revitalization. Yiren Digital also prioritizes its environmental footprint, reducing energy usage and carbon emissions, with over 90% of its Beijing office equipment being energy-efficient and achieving a 5% year-on-year decrease in greenhouse gas emissions. By imposing strict lending restrictions on high-emission sectors, Yiren Digital directs financing towards low-carbon industries, facilitating RMB 88.48 million in loans for projects in new energy and environmental monitoring.
In summary, Yiren Digital's recent ESG report not only highlights the company's strategic initiatives in customer satisfaction and security but also reinforces its dedication to sustainable practices and social responsibility. Through its innovative technologies and commitment to community support, Yiren Digital strives to create a more inclusive and environmentally friendly financial landscape in Asia. The company’s approach serves as a model for integrating business success with social and environmental stewardship in the rapidly evolving digital economy.