In June 2022, the Giant Group teamed up with the heads of other major bicycle industry companies to jointly issue an ESG proposal for the cycle industry, and also create a dedicated industry chain platform, the "Bicycling Alliance for Sustainability" (BAS). The Bicycling Alliance for Sustainability's five major missions include coordinating the industry's internal and external resources, leading low-carbon supply chain transformation, adopting ESG standards for the bicycle industry, promoting ESG actions to consumers, and researching and discussing ESG issues affecting the bicycle industry.
When a founding meeting was held for the BAS on December 22, 2022, 58 major companies in the bicycle industry chain became members. The participants at this meeting also voted to nominate Giant Group CEO Young Liu as the first chairman, and pledged to comply with their responsibility to reduce carbon emissions. This responsibility includes the implementation of greenhouse gas inventories, and achieving the 2030 single-product carbon footprint target by reducing carbon emissions by 40kg per bicycle, or by at least 25%. Apart from sustainability, the BAS also encourages members to pledge compliance with international human rights conventions and maintain the environment along bike paths. It also expects that its members will take the initiative to disclose their ESG information on their corporate websites, which will promote transparency and continued ESG efforts. The steps taken by BAS members will also encourage upstream supply chain firms to undertake ESG work.
While urging members to develop sustainable carbon reduction measures, the BAS will also rely on its seven major subordinate functional units to support members' study and implementation of ESG sustainability work. These functional units include a policy, law, and regulation group, education and promotion group, technology development group, green energy and carbon credits group, social responsibilities group, corporate governance group, and international cooperation group. The BAS will collect information on policies, laws, and regulations on behalf of members, and provide specialized guidance and classes. It hopes to induce discussion of sustainable technologies in the industry, obtain carbon credits and green energy for bicycles, put labor human rights and corporate governance mechanisms on a solid footing, organize visits to benchmark companies, and conduct international interchange activities. It is hoped that the BAS's efforts will help the bicycle industry chain keep up with trends, achieve carbon emissions reduction goals through product design and manufacturing, and promote the low-carbon transformation of the industry. This will ultimately lead to the establishment of a full-scale ESG ecosystem in the bicycle industry.
BAS Chairman Young Liu.