This marks the 7 years in a row that SCG and its member companies have been recognized for their sustainability practices and outstanding achievements in business operations, product development, and service innovation. It serves as a testament to their joint efforts to make a greater impact on sustainable development. Notably, the rising number of award-winning companies shows that SCG's ESG 4 Plus strategy is increasingly aligned across the group.
Since its first inception, the Program on Benchmarking and Announcing Sustainable Businesses in Vietnam (CSI) has set a new benchmark for sustainable development among the business community in Vietnam. This year, businesses are evaluated based on 130 indicators under the Corporate Sustainability Index (CSI), covering aspects of economic efficiency, corporate governance, the environment, labor, and society. SCG and its member companies stand out for their ground-breaking ESG strategy that positively impacts the economy, society, and environment.
Mr. Praween Wirotpan, General Director of SCG Vietnam, said: "We are pleased to receive acknowledgment for our contribution to the sustainability objectives of both the government and the business community. This recognition is a result of the implementation of the ESG 4 Plus strategy, introduced in 2021. ESG 4 Plus serves as a framework for SCG and its subsidiaries to seamlessly integrate environmental, social, and governance considerations into their operations, aligning with shared objectives such as achieving net-zero emissions, go green, reducing inequality, embracing collaboration, and upholding strong governance principles."
"The CSI criteria closely align with our overarching ESG goals, emphasizing establishing sustainable and responsible businesses. The receipt of this prestigious award by six member companies confirms that our strategic direction is on the right path, highlighting substantial and commendable progress." he added.
The key element underpinning this recognition is the steadfast dedication of member companies to incorporate the ESG 4 Plus framework comprehensively into their operational practices. Thus, they not only tackle challenges amidst the volatile environment but also play a role in accelerating Vietnam's transition to a low-carbon economy more sustainably.
In the Net-zero and Go Green pathway, the companies have constantly invested in innovation and technology to transform their production processes, maximize the efficient use of resources, raw materials, and products, and preserve the value of these resources through reuse, reduction of use, and recycling. Efforts are also made to increase the proportion of the use of renewable energy sources or alternative fuels.
Regarding Environmental aspect, as Vietnam’s leading packaging manufacturer, Vina Kraft Paper has taken different measures to promote sustainability. Approximately 98% of its fibrous raw material intake comes from recycled or waste paper. With an annual capacity of 550,000 tons, the production processes at factories are optimized for circularity. In 2023, Vina Kraft Paper installed a 4 MW solar power system to generate clean energy and lower greenhouse gas emissions. At the same time, the company has increased the share of biomass used in the boiler up to 40%, thereby significantly reducing annual coal consumption.
Likewise, PRIME Group has applied circular economy principles to its manufacturing activities to enhance resource efficiency and minimize environmental impacts. This is coupled with the development of new tile products certified SCG Green Choice, which is the labeling system to certify environment-friendly products and services within the SCG. This strategy helps the company foster business competitiveness and offer eco-friendly options to customers.
When it comes to the social commitments, SCG Concrete Roof, also places emphasis on tackling inequality in society by uplifting its corporate social responsibility activities. The company has been lauded as the pioneering enterprise in building diverse, equitable, and inclusive values, a new award being introduced at the CSI 2023 program. There are four crucial factors behind this success, including adherence to fairness, dedication to excellence, belief in the value of the individual, and concern for social responsibility. By reducing the gap in social inequality, the company hopes to contribute to a self-reliant society and people’s better lives. Besides, last year, Vina Kraft Paper also met the CSI's labor and society indicators. This is evidenced by Vina Kraft Paper's recognition as a typical business on gender equality in the workplace last year. With a vision of "leaving no one behind," the company has made efforts to promote gender equality, empower female employees, and combat gender discrimination in the workplace.
Regarding embracing collaboration, SCG and member companies not only tie up with industry partners but also deepen cross-sector collaboration to adhere to ESG practices, from sourcing input materials to managing waste. In particular, as a part of the National Action Plan on Circular Economy (NAPCE), they have shared circular economy initiatives with the public and private sectors to foster strong partnerships in Vietnam. The move will pave the way for SCG and its partners to achieve tangible results on a large scale.
SCG is dedicated to becoming a leading business in ASEAN by driving the development of innovative products, services, and solutions that meet consumers’ diverse needs. The group is committed to growing sustainability by integrating ESG to contribute to the growth of every society and community where it operates. Through the commitment and execution of every member company in the organization, SCG will continue to deliver "betterment" to customers under its promise "Passion for Better".
