Coca-Cola named in Top 4 most sustainable companies in Vietnam

December 19, 2022 | 12:23
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Coca-Cola Vietnam has been named among Vietnam’s four most sustainable companies at the Vietnam Corporate Sustainability Forum 2022.
Coca-Cola named in Top 4 most sustainable companies in Vietnam
Coca-Cola has been leading the way in reaffirming continuous efforts towards sustainability and protecting the environment

The event, which took place in Hanoi on December 1, was organised by the Vietnam Chamber of Commerce and Industry (VCCI) in cooperation with the Vietnam Business Council for Sustainable Development. The honours were decided by the management board of the Corporate Sustainability Index (CSI).

This is the seventh consecutive year that the company has been honoured as one of the most sustainable companies in Vietnam, reaffirming its continuous efforts to making a positive difference in local communities while protecting the environment.

Today, many companies have been working to rebuild stronger from the pandemic and position themselves for a more sustainable future. This has resulted in significant investments in environmental, social, and governance priorities over the past year.

As a result, many companies have been implementing outstanding sustainability activities, making the work of the CSI board particularly difficult when it came to picking the top performers in the field.

“This year has seen significant sustainability investment by domestic and foreign enterprises. Being recognised as one of the most sustainable businesses in Vietnam is a great honour for Coca-Cola,” said Peeyush Sharma, CEO of Coca-Cola Beverage Vietnam Ltd.

“This award validates our journey for sustainable development in Vietnam, as we continue to stay laser focused on our company purpose to ‘Refresh the world and make a difference.’ To pursue our sustainable packaging vision of ‘A World Without Waste’, we will continue innovating and implementing partnerships to enhance the lives of Vietnamese people and spread a spirit of positivity,” Sharma added.

Coca-Cola named in Top 4 most sustainable companies in Vietnam

Socioeconomic contributions

Coca-Cola has remained persistent in its contribution to socioeconomic recovery and development and creating a driving force for growth in Vietnam.

The company helps to give back to communities, and nature, more water than the company uses in its finished beverages. With its partners, Coca-Cola has helped to install water filtration systems at schools, and has established social enterprises (known as EKOCENTERS) across the nation, providing approximately 10 million litres of free drinking water to 800,000 beneficiaries through advanced water purification technology.

In addition, the latest Coca-Cola beverage factory in Long An province, which broke ground in October, will create more jobs and train more skilled workers.

With its modern production lines and smart design elements, it will also contribute to Vietnam’s commitment to reduce net carbon emissions to zero by 2050.

To contribute to environmental sustainability, the company continues to work towards its vision of a “World Without Waste” with the goal of collecting and recycling every bottle and can it sells globally by 2030. It is also rolling out packaging innovations to promote a circular economy model.

Coca-Cola named in Top 4 most sustainable companies in Vietnam

Progress in Vietnam

Throughout its 30 years of operations in the country, the company has launched several projects to deliver on its sustainability goals. Most recently, through its ambitious vision on a ‘World Without Waste’, Coca-Cola is making its packaging part of the circular economy through a strategy anchored in three interrelated goals of design, collect, and partner.

In September, Coca-Cola Vietnam took another meaningful step towards advancing a circular economy by introducing bottles made from 100 per cent recycled PET plastic, except for caps and labels, across the country. The move is helping the company reduce new plastic usage by over 2,000 tonnes a year in Vietnam.

It is also leveraging the reach of its brands to inspire people to recycle by placing a prominent RECYCLE ME message on all its packages. The company has also made its bottles easier to recycle by changing the iconic Sprite bottles from green to clear PET plastic.

In addition, Coca-Cola Vietnam is one of the founding members of Packaging Recycling Organization Vietnam, which was established to accelerate recycling across the country.

It is also extending the reach of its Plastic Action Network programme to Can Gio district of Ho Chi Minh City, in partnership with GreenHub, to bolster the local plastic waste management system and promote the formation of a circular economy model in the south of the country.

To raise awareness and find innovative solutions for plastic waste management at locations including Cu Lao Cham and Cat Ba islands, Coca-Cola Vietnam has worked with UNESCO to support the launch of the Youth and Innovation for Ocean Initiatives project.

Elsewhere, the company has also partnered with The Ocean Cleanup to deploy a river cleanup system in the Can Tho River, which extracts up to 400kg of rubbish each day.

The recognition by the VCCI for Coca-Cola as one of the most sustainable companies in the country is great encouragement to the company. With this, the company remains committed to sustainable development by innovating in its local operations while helping to protect the environment and giving back to the communities.

These ongoing projects, aligned with its purpose to “Refresh the world and make a difference”, encompass Coca-Cola’s drive for sustainable development hand-in-hand with the country for a better shared future.

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By Chi Cong

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional