Masan Group wins the Top 50 Corporate Sustainability Award in two categories, Sustainable Resource Management and Outstanding Risk Management Platform, at a ceremony held in HCM City on June 29. (Photo courtesy of the company) Rising investor scrutiny, customer expectations and shifting public policies have established ESG (environment-social-government) standards as the new norm, becoming indispensable for businesses.
It has emerged as a fundamental pillar for fostering sustainable growth at the highest level.
In Vietnam, many businesses have made significant investments and demonstrated commendable adherence to sustainable development requirements, leading to a multitude of positive outcomes.
With the aim of fostering the widespread adoption of sustainable development in the business community and Vietnamese society, the magazine held a comprehensive vote across all three business sectors: foreign-owned, listed and small and medium-sized enterprises.
The enterprises selected for the ranking are evaluated based on the following criteria: steady growth, commitment to environmental protection, sound corporate governance, and demonstrated social responsibility.
Taking responsibility for the environment
The Masan Group and its subsidiary companies have a prominent position as a diversified corporation, spearheading crucial sectors that greatly impact over 100 million Vietnamese people.
The sectors they are in include retail, FMCG, chilled meat and branded processed meats, F&B chains, financial services, telecommunications, and high-tech industrial materials.
Recognising its role and responsibility to the community and society, Masan remains dedicated to steadily raising the bar for sustainable development standards.
In line with this, its retail sector, comprising a network of over 3,500 supermarkets and WinMart/WinMart+ stores consistently have a 90% ratio of Vietnamese goods.
This effectively serves as a bridge, fostering collaborations between domestic manufacturers and businesses to offer a wider array of high-quality products that meet the Vietnamese preference for locally made goods.
Moreover, this supermarket chain actively contributes to environmental preservation efforts by promoting the adoption of 100 % of biodegradable bags as a substitute for plastic bags.
It also strives to minimise or replace single-use plastic with eco-friendly alternatives.
Furthermore, customer incentive programmes encourage the habit of reusable bag usage, promoting greener consumption practices while shopping.
Masan consistently introduces innovative products in the consumer goods and branded meat sectors, ensuring they adhere to stringent hygiene, safety and health standards.
Its MEATDeli meat processing complexes are accredited with the BRC - Global Standard for Food Safety, which has significant international value in the food industry and serves as a crucial certification for food exporters.
Masan Consumer's processing plants have made substantial investments in state-of-the-art wastewater treatment systems in collaboration with a Dutch partner.
These advanced systems are installed in its factories across the nation. The discharged wastewater consistently meets the highest quality standard in Vietnam, class A.
Another member of the group, Masan High-Tech Materials, has been actively involved in afforestation efforts since 2016 by planting trees on previously barren lands after mining activities.
It has successfully greened 58 hectares throughout its operational areas. This is an integral part of its carbon sequestration initiative, as it strives towards achieving carbon neutrality in the near future.
Robust corporate governance framework
In addition to prioritising environmental protection initiatives, Masan Group and its subsidiary companies are also committed to implementing corporate social responsibility programmes.
As one of the leading contributors to tax revenues, the group operates factories and production facilities that generate employment opportunities and improve the livelihoods of local communities.
Masan actively engages in various social security activities across the country.
These include providing support to individuals affected by storms and floods in Nghe An, assisting soldiers in safeguarding Vietnam's borders, seas and islands through its "For the National Sea and Islands - For the Fatherland Frontline " fund and aiding impoverished households through the "Fund for the Poor" at both the national and provincial levels.
These efforts demonstrate Masan's dedication to societal well-being.
Its integration of ESG principles into its strategic plan enhances its risk management practices. The emphasis on the G (Governance) factor is particularly valuable as it ensures the objective evaluation of governance processes and maintains independence in internal controls.
It consistently updates its corporate governance regulations to safeguard shareholder interests and establish operational standards for the boards of directors and management, thus Masan ensuring objectivity in critical decision-making processes.
It places great emphasis on social development, environmental protection, and corporate governance as key pillars alongside its business activities. The greater the adoption of ESG standards, the more advantageous it becomes for businesses with a long-term vision and significant intrinsic value.
In recent times Masan has consistently gained recognition in a number of prestigious rankings. In 2023 it has been listed among the Top 50 best-performing companies in Vietnam by Forbes Vietnam and the top 10 in the Top 50 prestigious public companies by Vietnam Report./.
VNA
