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 shiftingpublic policies have established ESG (environment-social-government) standardsas the new norm, becoming indispensable for businesses.
It has emerged as a fundamental pillar for fostering sustainable growthat the highest level.
In Vietnam, many businesses have made significant investments anddemonstrated commendable adherence to sustainable development requirements,leading to a multitude of positive outcomes.
With the aim of fostering the widespread adoption of sustainabledevelopment in the business community and Vietnamese society, the magazine helda comprehensive vote across all three business sectors: foreign-owned, listedand small and medium-sized enterprises.
The enterprises selected for the ranking are evaluated based onthe 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 prominentposition as a diversified corporation, spearheading crucial sectors thatgreatly impact over 100 million Vietnamese people.
The sectors they are in include retail, FMCG, chilled meat andbranded processed meats, F&B chains, financial services,telecommunications, and high-tech industrial materials.
Recognising its role and responsibility to the community andsociety, Masan remains dedicated to steadily raising the bar for sustainabledevelopment standards.
In line with this, its retail sector, comprising a network of over3,500 supermarkets and WinMart/WinMart+ stores consistently have a 90% ratio ofVietnamese goods.
This effectively serves as a bridge, fostering collaborationsbetween domestic manufacturers and businesses to offer a wider array ofhigh-quality products that meet the Vietnamese preference for locally madegoods.
Moreover, this supermarket chain actively contributes toenvironmental preservation efforts by promoting the adoption of 100 % ofbiodegradable bags as a substitute for plastic bags.
It also strives to minimise or replace single-use plastic witheco-friendly alternatives.
Furthermore, customer incentive programmes encourage the habit ofreusable bag usage, promoting greener consumption practices while shopping.
Masan consistently introduces innovative products in the consumergoods 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 inthe food industry and serves as a crucial certification for food exporters.
Masan Consumer's processing plants have made substantialinvestments in state-of-the-art wastewater treatment systems in collaborationwith a Dutch partner.
These advanced systems are installed in its factories across thenation. The discharged wastewater consistently meets the highest qualitystandard in Vietnam, class A.
Another member of the group, Masan High-Tech Materials, has beenactively involved in afforestation efforts since 2016 by planting trees onpreviously barren lands after mining activities.
It has successfully greened 58 hectares throughout its operationalareas. This is an integral part of its carbon sequestration initiative, as itstrives 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 implementingcorporate social responsibility programmes.
As one of the leading contributors to tax revenues, the groupoperates factories and production facilities that generate employmentopportunities and improve the livelihoods of local communities.
Masan actively engages in various social security activitiesacross the country.
These include providing support to individuals affected by stormsand floods in Nghe An, assisting soldiers in safeguarding Vietnam's borders,seas and islands through its "For the National Sea and Islands - For theFatherland 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 enhancesits risk management practices. The emphasis on the G (Governance) factor isparticularly valuable as it ensures the objective evaluation of governanceprocesses and maintains independence in internal controls.
It consistently updates its corporate governance regulations tosafeguard shareholder interests and establish operational standards for theboards of directors and management, thus Masan ensuring objectivity in criticaldecision-making processes.
It places great emphasis on social development, environmentalprotection, and corporate governance as key pillars alongside its businessactivities. The greater the adoption of ESG standards, the more advantageous itbecomes for businesses with a long-term vision and significant intrinsic value.
In recent times Masan has consistently gained recognition in anumber of prestigious rankings. In 2023 it has been listed among the Top 50best-performing companies in Vietnam by Forbes Vietnam and the top 10 in theTop 50 prestigious public companies by Vietnam Report./.
VNA
