Vinamilk Wins Top Honors for Governance and Sustainable Development

“Vinamilk Leads the Way Towards a Green Era”

This was the consensus of the judging panel at the 2024 Listed Company Awards for Vinamilk. Accordingly, Vinamilk has made significant progress in its sustainable development journey, evident through its remarkable achievements in minimizing environmental impact and fulfilling social responsibilities.

Consequently, the company has consistently been recognized in multiple categories, including the First Prize for Sustainable Development Report, Best Greenhouse Gas Management Report, Top 10 Best-Managed Companies (large-cap group), and the Award for Company Governance Beyond Compliance at the event.

During the awards ceremony, Mr. Le Hoang Minh, Executive Director of Production and Head of the Net Zero Vinamilk Project, shared that the awards acknowledge the company’s efforts in reporting and disclosing information, as well as practicing good environmental, social, and governance (ESG) management. With this recognition, the company aims to inspire and motivate other organizations and businesses to strive for advanced, transparent, and sustainable governance standards.

In terms of governance, Vinamilk excels by applying company governance principles that go beyond compliance and align with the best practices in the world and the region, as outlined in the ASEAN Corporate Governance Scorecard. This enhances the company’s transparency, builds trust, and safeguards the interests of its shareholders, particularly foreign investors.

Sustaining Excellence for 12 Consecutive Years

Since publishing its first Sustainable Development Report in 2012, Vinamilk has consistently ranked among the top three best-evaluated companies. Specifically, in the category of Greenhouse Gas Emissions Disclosure, Vinamilk is the only company to have led the ranking for three consecutive years.

Notably, despite a record increase in the number of separate sustainable development reports this year, from 21 to 33 units, only two businesses, including Vinamilk, set emission reduction targets based on the Science Based Targets initiative (SBTi). This underscores the company’s strong commitment to reducing emissions according to international standards.

Vinamilk’s report is also distinguished by its adherence to not only international standards but also industry-specific benchmarks. Specifically, in addition to widely adopted international standards such as the latest version of the Global Reporting Initiative (GRI) Standards for sustainability reporting, the Carbon Disclosure Project (CDP), and the United Nations’ 17 Sustainable Development Goals, Vinamilk’s sustainable development report references industry-specific standards. These include the Dairy Sustainability Framework (DSF) and GRI’s guidelines specifically for the food industry (GRI Food Processing). The integration of these international standards enhances the comprehensiveness, transparency, and reliability of the reports for readers.

Net Zero – More Than Just a Commitment

This year’s award-winning report from Vinamilk is themed “Action from the Heart – Net Zero 2050,” with “Net Zero 2050” being a prominent keyword for 2024. In pursuit of the Net Zero 2050 goal, the company is intensifying its efforts to reduce emissions across its entire supply chain and expand carbon sinks through reforestation activities.

While the company formally announced its commitment to Net Zero 2050 in 2023, Vinamilk had already embarked on a decade-long journey of implementing actions to reduce greenhouse gas emissions, conducting emission inventories, and integrating sustainable development as a strategic consideration in its investments in factories, farms, and production technologies. This foundation has enabled Vinamilk to accelerate its progress toward Net Zero 2050, with three of its units already achieving carbon neutrality certification under the international standard PAS2060:2014.