Masan honoured among top 50 businesses at Corporate Sustainability Awards

August 12, 2022 | 14:53
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The trend of investing in businesses meeting environment, social, and governance (ESG) criteria is growing. And, according to a report by law firm YKVN, Vietnam is catching up with the global trend.

Besides assessing business performance, a growing number of institutional and individual investors are taking into account the ESG criteria before making an investment decision. ESG requires businesses to be transparent about their environmental, social, and governance performance, including their contributions to local economies.

On August 10, Masan Group, the only local enterprise with integration from production to retail, was honoured by Nhip Cau Dau Tu Magazine among the 50 firms in its Corporate Sustainability Awards.

The award was finalised after more than two months of survey and evaluation based on criteria such as stable growth, sustainable corporate culture, corporate governance, environmental protection, and social responsibility.

A representative of Nhip Cau Dau Tu Magazine said, “The development of awareness about systemic issues such as climate change, disease risks, resource depletion, and inequality has promoted the investment trends based on ESG criteria or sustainable investment in recent years. The top 50 Corporate Sustainability Awards sets a goal to raise awareness of the business community in the private sector about the role, meaning, and importance of sustainable business.”

Masan honoured among top 50 businesses at Corporate Sustainability Awards
Masan adopts sustainable solutions in both product development and operation activities

More public attention has been paid to the development of sustainable enterprises as well as a harmonious combination of economic efficiency with social responsibility, environmental protection, and resource conservation.

On February 8, the government issued Decision No.167/QD-TTg approving the programme on supporting businesses in the private sector to do sustainable business in the 2022-2025 period. By 2025, the goal is to raise awareness of the private sector business community about the role, meaning, and importance of sustainable business. Another goal is to develop tools and solutions to measure, evaluate, and recognise sustainable enterprises.

Promoting sustainable development

In the retail segment, Masan’s WinMart and WinMart+ retail systems maintainws a ratio of more than 90 per cent of Vietnamese products on the shelves that meet the criteria of premium freshness. Masan acts as a bridge to facilitate local businesses and manufacturers to bring high-quality products to more than 32 million customers per month.

WinMart/WinMart+ systems have also replaced all plastic bags with biodegradable alternatives while reducing or replacing single-use plastic materials with environmentally friendly options, providing promotional offers to customers who use their own multiple-use bags in order to encourage the adoption of green consumer behaviours in shopping at WinCommerce’s retail stores.

To minimise its environmental impact, WinEco has replaced nylon bags and rubber bands for packaging with biodegradable materials following the standards of the Ministry of Natural Resources and Environment. In addition, WinEco also uses kraft paper and biodegradable nylon bags to harvest and package products instead of wrap and conventional nylon bags.

Masan honoured among top 50 businesses at Corporate Sustainability Awards

With a network of 30 consumer goods production factories, Masan not only applies the most advanced processing technology but also strictly adheres to strict environmental standards.

The MEATDeli HN and MEATDeli SG processing complexes have been officially granted BRC certifications. This is a valid international certificate to help control and minimise the risk of poisoning in the food industry and is considered a passport for food exporters.

BRC audit criteria and certification process are strictly controlled and consistent around the world. Meanwhile, Masan Consumer has invested in Dutch-designed wastewater treatment plants at consumer goods production facilities in Binh Duong, Hai Duong, and Nghe An. All treated water results comply with Vietnam’s highest standards.

Masan Group’s goal is to build a Point of Life platform to serve essential needs on a one-stop-shop platform. The group aims to serve 30-50 million consumers by 2025 by operating 10,000 of its own retail outlets and 20,000 franchised stores.

With this model, consumers will save 5-10 per cent on their essential demand while manufacturers and farmers will increase their earnings by 5-10 per cent. The franchise partners will also raise profits by 5-10 per cent compared to the current operation.

Masan Group has spent over $21.3 million to corporate social responsibility activities since 2021. As a leading corporation in the private sector, Masan Group has contributed almost $233 million in taxes to the state budget in 2021. Masan's member companies are also among the largest taxpayers for the localities where they operate factories and production facilities.

With its strong commitments, long-term development vision, and effective implementation strategy, Masan Group has been continuously named in prestigious awards for Sustainable Development at home and abroad such as the 2021 Asia Corporate Excellence and Sustainability Awards, the Top 50 Listed Companies in Vietnam for 10 consecutive years, and the 17th place in the top 100 Vietnam Best Places To Work by Anphabe.

As a leader in the consumer and retail sector with a solid corporate governance foundation and a sustainable development strategy, Masan has attracted much attention from global investors. In 2021 alone, Masan has lured an investment capital of $2.3 billion from foreign funds and corporations.

Masan honoured among top 50 businesses at Corporate Sustainability Awards
Masan at the awards for the top 50 Listed Companies in Vietnam
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By Thanh Van

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