ESG 4 Plus-the key for SCG’s sustainable development journey

December 16, 2022 | 16:25
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In the new business context, criteria in environmental, social, and governance is not simply an option, but has become one of the most important strategies for long-term corporate development.

The government has stated its determination to implement key policies and make the necessary efforts to achieve net-zero emissions by 2050, which includes policies to promote the transition towards greener business practices. With that in mind, environmental, social, and governance (ESG) criteria are regarded as a guide for businesses seeking this new direction.

ESG 4 Plus-the key for SCG’s sustainable development journey
SCG motivates businesses in a variety of industries to strive for the future of multi-industry sustainable development

As a top conglomerate in the ASEAN region in terms of sustainable development, SCG and its member companies have been making efforts to implement its ESG 4 Plus strategy into business activities in order to reach its goals.

Built on SCG’s solid century-old foundation of sustainable development practices, the ESG 4 Plus strategy is based on the main approaches of net-zero, going green, reducing inequality, embracing collaboration, and fairness and transparency in all operations.

The approach to hitting net-zero includes corporate efforts to reduce greenhouse gases, which range from reducing fossil energy consumption and re-engineering products to minimising the carbon footprint. Meanwhile, SCG’s approach to go green is our direction in creating products, services, production models, and so on towards a sustainable future while also protecting the environment.

Under the criteria to reduce inequality, SCG has carried out many social responsibility projects, providing career opportunities and developing skills for groups of people in need in the communities where SCG operates.

The company also embraces collaboration within and outside the region through numerous forums, projects, and collaborations with numerous public-private partners in order to achieve joint efforts in the field of sustainable development.

In June 2022, in collaboration with the Ministry of Natural Resources and Environment (MoNRE) and the government, SCG held a conference on the national action plan for the circular economy, which brought together hundreds of representatives from governmental, non-governmental, and private sector organisations to discuss Vietnam’s circular economy development orientation, and putting the country’s aim for net-zero emissions into action.

ESG efforts in Vietnam

ESG 4 Plus-the key for SCG’s sustainable development journey

In cement and building materials, SCG has introduced green products which have been certified with the SCG Green Choice label. Products such as Super Cement, Song Gianh, and Starcemt not only save energy and resources but also help to reduce emissions.

During the pandemic, SCG’s packaging business supported 5,000 paper beds for field hospitals and quarantined areas. The initiative helped offer crucial beds for patients while also ensuring environmental friendliness and saving resources.

For the chemicals industry, we introduced the eco-plastic SCGC Green Polymer, which is designed according to the principle of the circular economy in order to improve eco-efficiency. After using them, the materials of SCGC Green Polymer eco-plastic will be recovered and recycled for new value, thereby creating a new plastic lifecycle to meet the goal of going green.

In addition, SCG and Long Son Petrochemicals have continuously implemented and participated in many sustainable development projects in the community. One was the Waste Segregation at Source project, which has been piloted at two primary schools in Long Son commune of Ba Ria-Vung Tau province. It has since been expanded to residential areas in the same location.

The project is part of an agreement on public-private collaboration towards the circular economy in plastic waste management signed by SCG, the MoNRE, Dow Vietnam, and Unilever Vietnam – with the goal of collaborating to protect the environment for a better Vietnam.

With the belief that the young generation can seek a better life through education, SCG’s Sharing The Dream Scholarship is one of the company’s continuous efforts to contribute to the sustainable development of Vietnam. In the past 15 years, the programme has fulfilled the dreams of more than 5,000 students nationwide, creating solid impacts on the human resources of Vietnam.

SCG president and CEO Roongrote Rangsiyopash said, “SCG would like to promote more circular economy initiatives in Vietnam. SCG and Thai enterprises are making a mutual effort in building up such collaborations in Vietnam to undertake a number of initiatives in this sector. Our ultimate goal is the collaboration between partners towards sustainable development for the future.”

Fruitful results from constant efforts

SCG and its member companies have won numerous industry awards for outstanding initiatives and continuous contributions. In 2021, five companies of SCG in Vietnam from every core business – Vina Kraft Paper, SCG Concrete Roof (Vietnam), Buu Long Industry and Investment JSC, Song Gianh Cement JSC, and Binh Minh Plastics JSC – were listed in the Top 100 Sustainable Companies in 2021 based on the CSI Programme.

In 2022, for the first time, SCG was named one of the top 50 typical foreign-invested enterprises in Vietnam at the 21st Golden Dragon Awards. This prestigious award is official recognition of SCG’s sustainable development strategy.

With the ESG 4 Plus strategy as a guideline, SCG’s member companies have also marked impressive achievements in business and management activities. Vina Kraft Paper was honoured as one of the top enterprises for gender equality in the workplace. With the philosophy of leaving no-one behind, Vina Kraft Paper has demonstrated its consistent efforts in creating a sustainable and healthy working environment in accordance with the reducing inequality criterion.

Meanwhile, Binh Minh Plastics was named one of the Top 50 Best Listed Firms in Vietnam 2022 by Forbes Vietnam Magazine. It was the only firm in the sector of building materials specialising in plastic pipes and plastic pipe fittings to be included on this year’s list.

In addition, PRIME Group has also been honoured to receive a number of prestigious awards recognising business achievements and contributions, including the National Quality Award 2020 and ASEAN Typical Enterprise Award 2020. This is deemed a remarkable milestone that acknowledges the company’s development efforts in accordance with SCG’s sustainable development strategy.

Following the ESG 4 Plus strategy’s core values, SCG and its member companies not only reaffirm their position and efforts in multilateral cooperation but also promote their leadership role in sustainable development in Vietnam. It is a clear demonstration of SCG’s clarity in the journey of collaboration in all aspects of ESG for a sustainable future and economy.

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By Thao Huyen

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