A Comprehensive and Balanced ESG Strategy
As shared by the event’s representative, PNJ is a pioneer in comprehensively and excellently deploying all three pillars of E, S, and G in its sustainable development strategy. Specifically, PNJ was recognized for its tireless efforts in Environmental Management (E), Responsible Marketing (S), and Excellent Corporate Governance (G). The award acknowledges PNJ’s dedication, scientific investment, and professionalism in laying a solid foundation for its sustainable development goals.
This year’s TOP50 CSA featured 16 categories honoring three business sectors: 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.
Evidently, the two impressive “hat-tricks” vividly demonstrate PNJ’s comprehensive and balanced approach to implementing its sustainable development strategy, while also solidifying its position as a leader in the jewelry retail industry.
Top 50 Sustainable Businesses in 2024. Photo: Ke Chau
Ms. Tran Phuong Ngoc Thao, Vice Chairwoman of the Board of Directors and Chairwoman of the PNJ ESG Committee, shared: “Our ESG strategies enhance transparency, providing a comprehensive and reliable perspective to our stakeholders about the company’s operations. At PNJ, ESG is integrated into our overall development strategy, increasing our appeal in the international arena and enabling sustainable business growth, even amidst 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 an impression in sustainable resource management, PNJ actively protects water resources through the development and improvement of its plaster water recycling system, resulting in a 4% reduction in wastewater discharge in 2023 compared to 2022, and an increase in the water recycling rate from 12% to 16.42%.
PNJ’s profound impression in sustainable resource management. Photo: Ke Chau
Through the initiative to use hydrogen fuel for welding machines and the goal of completely eliminating fossil fuels from the production process, PNJ persistently reduces greenhouse gas emissions significantly.
Currently, over 80% of the raw materials used by PNJ in production are from renewable sources, and this percentage is expected to increase in the future. Additionally, the company has launched several initiatives to manage waste effectively. The total waste volume last year decreased by 11.73% compared to the same period, and plastic bottle emissions were reduced by over 41,000 thanks to consistent environmental protection communication campaigns for employees, raising awareness and discouraging the use of single-use plastic products.
The S Pillar – Social
In terms of social aspects, PNJ places people at the core, implementing a wide range of activities targeting employees and the social community (CSR). Accordingly, the company constantly strives to protect consumer rights and takes responsible actions to sustainably honor the beauty of human beings and life. Typically, through its marketing and communication programs, PNJ contributes to preserving traditional values, inspiring women, and joining hands to address social issues.
PNJ aligns social and customer interests with business interests. Photo: Ke Chau
Specifically, PNJ has carried out numerous meaningful activities, such as the God of Wealth campaign, the nationwide jewelry sales program, and the launch of the Betel Leaf jewelry collection as part of the “With You, We Get Married” campaign.
The G Pillar – Governance
In the governance pillar, after years of “rethinking,” PNJ’s leadership team has reaped the fruits of their labor in corporate governance. PNJ has established 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 pioneering listed companies to apply the ASEAN Corporate Governance Scorecard (ACGS), aiming for global standards.
Excellent corporate governance has helped PNJ overcome challenges and achieve business peaks. Photo: Ke Chau
PNJ always ensures the composition and quality of its Board of Directors, boasting a wealth of knowledge and experience in various fields. Through the Board, PNJ establishes a risk management process with a structure that ensures unity from the parent company to its subsidiaries to assess and proactively prevent risks that may negatively impact business operations.
With the statement, “PNJ takes responsible actions to sustainably honor the beauty of human beings and life,” the company’s 5-year ESG journey is expected to unfold in three phases: building and standardizing (2022-2024), creating an impact (2024-2026), and striving for international standards (2026-2027)
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