ESG Strategy Integral to Company’s Overall Development Strategy
In all key business activities, Masan commits to continuously improving the material and spiritual lives of 100 million Vietnamese consumers. Therefore, from early on, Masan has implemented sustainable development standards such as: Product and innovation-driven development; Sustainable human resources; Environmental sustainability; Social responsibility and Corporate governance.
Even before the concept of ESG became frequently mentioned in Vietnam, Masan was already conscious of and focused on sustainable development activities. This is also an integral part of Masan’s Annual Reports. The company has also received numerous sustainable development awards over the years, such as: Outstanding and Sustainable Asian Enterprise, Community Initiative category (2021); consistently ranked in the Top 50 Sustainable Development Enterprises (2022, 2023); Masan High Tech Materials (a member of Masan Group) has been featured in the Top 100 Sustainable Enterprises in Vietnam for 6 consecutive years (from 2018-2023).
Recently, the concept of ESG has received widespread attention in Vietnam. This is thanks to the efforts of the Vietnamese Government in promoting the implementation of ESG-related practices. In response to and in line with the government’s ESG goals, Masan, as the leading Vietnamese consumer and retail company, has strongly integrated ESG into its overall business strategy.
The key elements of Masan’s ESG strategy include: Driving innovation for sustainable growth; Environmental and community management; Winning the hearts and minds of Masan’s people and customers.
Not only committed, Masan quickly implemented its ESG strategy by establishing the Environment, Social and Governance (ESG) Committee. This committee will help Masan achieve its goals: Establish and integrate ESG standards into business operations; Develop an ESG strategy to minimize risks, enhance efficiency, strengthen credibility and create value for Masan.
Strong and Purposeful Implementation of ESG Strategy
In practicing environmental protection, Masan always complies with all current environmental laws in Vietnam and regularly encourages employees to come up with environmental protection initiatives. Each Masan unit has its own environmental monitoring program depending on the impact of activities on the environment and local communities.
For business areas with environmental impacts such as mining, livestock farming, and manufacturing plants, appropriate environmental protection measures are established from the early stages of the projects. The Legal and Compliance; Safety, Health and Environment (SHE) departments are responsible for monitoring compliance with environmental regulations nationwide, as well as closely monitoring environmental laws and regulations.
Masan’s Factory System and member companies throughout the country comply with Vietnam’s national and local environmental regulations, such as implementing environmental assessment, monitoring and protection measures, regularly conducting environmental monitoring, inspecting factory machinery and equipment, fire safety, and closely coordinating with government agencies in inspections and regular reporting.
For example, Masan Consumer Company (a member of Masan Group) has invested in building modern wastewater treatment systems designed by a partner in the Netherlands at its factories in Binh Duong, Hai Duong, and Nghe An. All wastewater treatment quality test results meet Class A standards – the highest standards in Vietnam and ISO 14001 environmental management standards. In Binh Duong, Masan Consumer is also one of the pioneers in transparent wastewater treatment processes through the installation of an automatic wastewater monitoring system, direct and continuous reporting to the Department of Natural Resources and Environment.
Masan’s sustainable development initiatives focus on bringing value to society and contributing to the local community. Currently, the company owns the largest retail chain in the country with 3,600 supermarkets and WinMart/WinMart+/WIN stores, along with a network of manufacturing plants producing essential goods such as food, beverages, meat, and processed meat products throughout Vietnam.
With consumer products and retail services, the Group continues to research and lead trends to maximize convenience for customers. Modern retail models, meticulously researched consumer products always prioritize customer-centricity and receive enthusiastic reception.
As a leading private economic entity, Masan actively contributes to the state budget. In addition to being one of the highest taxpayers in provinces with operating factories, Masan also creates jobs and improves the lives of local people. At the same time, the company always allocates a portion of its profits to community development through community activities.
In 2023, Masan and its member companies carried out many meaningful community activities, such as Masan Consumer’s support of VND 500 million to the social security program of Ly Son district, Chin-su brand’s contribution of VND 10 billion to the “One million meals with meat for highland children” program for the 2023-2024 academic year, etc.
Serving consumers, continuously improving the material and spiritual lives of the Vietnamese people, the strong and purposeful implementation of ESG strategy at Masan will contribute to a better life for customers, partners, investors, and all stakeholders.
