PNJ’s Comprehensive and Balanced ESG Strategy
According to the organizing committee, PNJ is a pioneer in comprehensively and excellently deploying all three pillars of E-S-G in its sustainable development strategy.
Specifically, PNJ was recognized for its relentless efforts in: Sustainable Resource Management (E), Responsible Marketing (S), and Excellent Corporate Governance (G). The award acknowledges PNJ’s dedication, scientific investment, and professional approach in laying a solid foundation for its sustainable development goals.
This year’s Top 50 CSA included 16 categories honoring three groups of enterprises: FDI, listed companies, and unlisted companies. The judging panel comprised leaders from HSBC, PwC Vietnam, the Institute for Circular Economy Development (ICED), Schneider Electric Vietnam, Talentnet, and Mekong Capital.
The two consecutive “hat-tricks” impressively demonstrate PNJ’s comprehensive and balanced approach to its sustainable development strategy, solidifying its position as a leader in the jewelry retail industry.
Ms. Tran Phuong Ngoc Thao, Vice Chairwoman of the Board of Directors and Chairwoman of PNJ’s ESG Committee, shared: “Our ESG strategies enhance transparency, providing a comprehensive and reliable view of our operations to stakeholders. At PNJ, ESG is integrated into our overall development strategy, increasing our appeal in the international arena and contributing to our sustainable development and resilience in the face of market challenges.”
THE E PILLAR – ENVIRONMENT
Regarding the environmental pillar, PNJ is committed to complying with environmental protection laws in all its business activities. Notably, PNJ has implemented and maintained a greenhouse gas inventory with a third party since 2021.
Making a mark in sustainable resource management, PNJ actively protects water resources by developing and improving its gypsum water recycling system. As a result, in 2023, the company reduced water discharge by 4% compared to 2022, and the water recycling rate increased from 12% to 16.42%.
Through the initiative to use hydrogen fuel for welding machines and eventually eliminate fossil fuels from the production process, PNJ persistently reduces greenhouse gas emissions to a significant extent.
Currently, over 80% of the raw materials used by PNJ in production are from the renewable resources group, and this proportion can continue to increase in the future. In addition, the company has also implemented many initiatives to manage waste effectively. The total waste volume last year decreased by 11.73% compared to the same period, and the amount of plastic bottle waste also decreased by more than 41,000 thanks to continuous communication activities to raise employees’ awareness of environmental protection and say no to single-use plastic products.
THE S PILLAR – SOCIETY
In terms of society, PNJ puts people at the center and deploys a variety of activities aimed at employees and the community (CSR).
Accordingly, the company continuously strives to protect consumer rights and takes responsible actions to honor the beauty of human beings and life in a sustainable manner.
Typically, through marketing and communication programs, PNJ helps preserve traditional values, inspires women, and joins hands to support social issues.
Specifically, PNJ has carried out many meaningful activities such as the God of Wealth campaign, the “Jewelry Journey across Vietnam” sales program, and the launch of the Betel and Areca jewelry collection in the “If We Get Married” campaign.
THE G PILLAR – GOVERNANCE
In the governance pillar, after many years of “rethinking,” PNJ’s leadership team has reaped the fruits of good corporate governance. PNJ has built and applied six effective governance principles based on the best practices issued by the State Securities Commission of Vietnam. The company is also one of the listed companies pioneering the application of the ASEAN Corporate Governance Scorecard (ACGS), aiming toward global standards.
PNJ always ensures the composition and quality of the Board of Directors with extensive knowledge and experience in various fields. Through the Board of Directors, PNJ establishes a risk management process with a structure that ensures unity from the parent company to its subsidiaries to assess and promptly address risks that negatively affect production and business activities.
With the statement, “PNJ takes responsible actions to honor the beauty of human beings and life in a sustainable manner,” the company’s 5-year ESG implementation journey is expected to be carried out in three phases: building and standardizing (2022-2024), creating an impact (2024-2026), and aiming for international standards (2026-2027).
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