BSR Accelerates ESG Implementation Toward Sustainable Development
On June 11, 2025, at the headquarters of Binh Son Refining and Petrochemical Joint Stock Company (BSR), Mr. Nguyen Van Hoi – Member of the Board of Directors and Head of the ESG Task Force – chaired a meeting to implement key ESG tasks. The task force was established under Decision No. 1916/QĐ-BSR dated June 1, 2025.
The meeting brought together members of the Board of Directors, the Supervisory Board, company leadership, and representatives from various professional divisions, as well as members of the ESG Task Force. This diverse attendance showcased the commitment across the company to prioritize Environmental, Social, and Governance (ESG) factors.
At the meeting, BSR’s leadership underscored that ESG is not only a global trend but also a crucial foundation for the company’s sustainable growth. By integrating ESG practices, BSR aims to enhance its brand reputation and improve access to financing while mitigating legal risks, lowering capital costs, and increasing market valuation. This commitment comes in light of BSR’s recent listing on the Ho Chi Minh Stock Exchange on January 17, 2025, where ESG initiatives were highlighted as key enablers of the company’s 2025–2030 Development Strategy and its vision for 2045.
BSR reaffirms its commitment to ESG as an essential component of its strategic direction. Effective governance in ESG within the oil and gas sector demands accountability from leadership, proactive management of potential conflicts of interest, and the active involvement of various departments. It also calls for allocated resources, clear Key Performance Indicators (KPIs), regular reporting, and incentive mechanisms that encourage participation and compliance.
The company has initiated a range of ESG projects that include technology optimization, health, safety, and environmental (HSE) programs, improvements in employee welfare, and efforts toward social responsibility and biodiversity protection. These initiatives demonstrate BSR’s proactive approach to tackling challenges in sustainability and responsible governance.
Concluding the meeting, Mr. Nguyen Van Hoi tasked the ESG team to evaluate current implementations and enhance existing initiatives such as wastewater reuse and community engagement. The team was also encouraged to develop actionable plans for staff training, ESG communication strategies, and participation in environmental and cultural awards. Furthermore, BSR intends to align its strategies with national biofuel policies, specifically E5 and E10, as well as Sustainable Aviation Fuel (SAF) standards, while continuously improving its annual Sustainability Report and developing an independent ESG report.
Among the key priorities discussed were the establishment of a detailed ESG roadmap, bolstering risk management, cultivating a corporate culture aligned with ESG values, advancing digital transformation efforts, fostering innovation, and optimizing the 6th Turnaround plan.
The Refinery Division has been assigned the important task of developing energy efficiency targets (EII) to assist in assessing CO₂ emissions. Additionally, the task force is focused on strengthening community relations and absorbing best practices in ESG from the oil and gas sector and leading Vietnamese corporations.
BSR’s commitment to strategically implement ESG not only reinforces its dedication to sustainable development but also elevates its standing in the market. This commitment is further evidenced by BSR being recognized in May 2025 among the Top 10 ESG Vietnam Green Enterprises 2025 in the Energy and Oil & Gas Sector and as one of the Top 10 Innovative and Efficient Enterprises by the Finance – Investment Newspaper (Ministry of Finance).
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