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| 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 |
On June 29, during the Top 50 Corporate Sustainability Awards ceremony held in Ho Chi Minh City, Masan Group was honored in two prestigious categories: Sustainable Resource Management and Outstanding Risk Management Platform. This recognition underscores the company’s commitment to not only economic success but also to environmental sustainability and social responsibility.
In a rapidly evolving business landscape, where investor scrutiny and customer expectations grow ever more demanding, Environmental, Social, and Governance (ESG) standards have become essential. More than just regulatory requirements, these standards are cornerstones for businesses aiming to achieve sustainable growth. In Vietnam, a growing number of companies are investing in sustainable practices, leading to tangible benefits for all stakeholders involved.
To promote widespread adoption of sustainable development, Nhịp Cầu Đầu Tư magazine organized a thorough evaluation across various sectors, including foreign-owned companies, publicly listed firms, and small to medium enterprises. Companies were assessed based on their steady growth records, commitment to environmental protection, corporate governance, and social responsibility initiatives.
Commitment to Environmental Responsibility
Masan Group stands out as a diversified enterprise with vital interests across several sectors, such as retail, fast-moving consumer goods (FMCG), food and beverage chains, financial services, and telecommunications. This extensive reach impacts over 100 million people in Vietnam. Understanding the weight of this responsibility, Masan is determined to elevate the standards of sustainable development continually.
Within its retail operations, encompassing over 3,500 supermarkets and WinMart/WinMart+ stores, Masan proudly maintains a 90% ratio of Vietnamese goods. This strategy not only supports local manufacturers but also meets consumer demand for quality local products. Moreover, the supermarket chain is committed to environmental sustainability, opting for 100% biodegradable bags in place of traditional plastic. Efforts to minimize single-use plastics with eco-friendly alternatives reflect its ongoing commitment to environmental preservation. Initiatives like incentivizing customers who use reusable bags also promote greener shopping habits.
Masan is also dedicated to introducing innovative products in the consumer goods and branded meat sectors, all while adhering to stringent hygiene and safety standards. Its MEATDeli processing facilities are recognized with the BRC – Global Standard for Food Safety, a certification esteemed worldwide, especially within the food export industry. Notably, Masan Consumer has invested significantly in advanced wastewater treatment systems, collaborating with Dutch partners to ensure that discharged wastewater consistently meets the highest Class A standards in Vietnam.
Additionally, Masan High-Tech Materials has made significant strides in environmental rehabilitations, planting trees on previously barren land that resulted from mining activities. Since 2016, it has successfully greened 58 hectares, reinforcing its commitment to carbon sequestration initiatives as it aims for carbon neutrality in the near future.
Strong Corporate Governance Framework
Masan Group’s dedication to the environment extends beyond sustainability initiatives to robust corporate governance. As a major tax contributor, the group operates numerous factories and production facilities that create job opportunities and uplift local livelihoods.
Masan actively engages in social security programs across Vietnam, providing aid to communities adversely affected by natural disasters in Nghệ An, supporting soldiers on the frontiers, and contributing to various funds aimed at poverty alleviation. These efforts clearly demonstrate a commitment to societal well-being and social responsibility.
Integrating ESG principles into its strategic framework enhances Masan’s risk management practices. The Governance aspect of ESG is particularly significant, ensuring unbiased evaluations of governance processes and maintaining independent controls. Masan consistently updates its corporate governance regulations to protect shareholder interests and set clear operational standards for its boards of directors and management teams.
As sustainability becomes an essential aspect of corporate strategy, Masan Group remains focused on its impact on social development, environmental protection, and sound corporate governance. The increasing adoption of ESG principles can only serve to benefit companies looking to create sustainable, long-term value.
In recent rankings, Masan has continued to gain recognition, including a spot on Forbes Vietnam’s list of the Top 50 best-performing companies in Vietnam for 2023 and being named among the top 10 in the list of prestigious public companies by Vietnam Report.