2:22:14 PM | 4/22/2024
SCG announced its achievement, securing a place among the top outstanding foreign-invested enterprises (FIEs) at the Golden Dragon Awards 2023–2024 ceremony for the first time.
The award stands as a testament to the significant efforts and accomplishments SCG has realized through the steadfast implementation of its ESG 4 Plus strategy, which emphasizes key goals of Set Net Zero - Go Green - Reduce Inequality and Embrace Collaboration, Fairness and Transparency in all operations. It not only marks another milestone in SCG's sustainable development journey but also solidifies the company’s position as a pioneer in ESG innovation practices in Vietnam.
Since its inception in 2001, the Golden Dragon Awards (GDA) have evolved into the largest awards program organized by the Vietnam Economics Times, dedicated to highlighting reputable FIEs in Vietnam. With the theme "Vietnam Pathways to a Green and Sustainable Economy," this year's Awards honor the top 50 FIEs in Vietnam in 2023-2024 for their effective operations, digital transformation, green transformation, and community development.
“SCG is honored to receive the Golden Dragon Awards 2023-2024 for three consecutive years,” said Mr. Praween Wirotpan, Deputy Country Director – Vietnam, SCG, Vietnam. "Being recognized among the top 10 outstanding FIEs reflects our ability to leverage the ESG 4 Plus strategy to stay resilient amidst the challenging economy and make a positive impact on the environment.”
Thanks to this strategy, in 2023, despite the impact of the global economic downturn, SCG was still able to deliver solid operating results. The company is poised for a significant rebound in 2024, as it has earmarked an investment budget of 27.4 Trillion VND (US$ 1.16 Billion) to advance green innovations, clean energy, and carbon emissions reduction, according to SCG's FY2023 Operating Results. The move is geared towards fostering effective operations and creating a net zero society that is livable for everyone.
Notably, SCG’s subsidiaries in Vietnam have pioneered in applying green technologies across their operations. Most of the businesses have installed the waste heat recovery system across its factories for carbon emissions reduction and alternative energy generation. Vina Kraft Paper Co., Ltd., one of subsidiaries of SCGP, packaging business of SCG, is putting into operation a solar power system, providing clean, renewable energy and contributing to reducing greenhouse gas emissions. Meanwhile, another subsidiary, PRIME Group, has strongly invested in R&D activities to produce green tile products, such as its Slim Tile, which is expected to slash 40% of raw materials and 30% of greenhouse gas emissions. Long Son Petrochemicals, a flagship project of SCG in Vietnam, has applied cutting-edge eco-friendly technologies throughout all phases, from the construction to the operation of the complex, to produce a diversity of petrochemicals products, which minimizes emissions to the environment.
The esteemed recognition of the Golden Dragon Awards also comes in light of SCG’s outstanding performance in community development. At the heart of its community development strategy lies SCG Sharing the Dream Scholarships, which have supported thousands of Vietnamese students to achieve their educational dreams for the past 17 years. Accordingly, SCG not only provides financial support to students but also equips them with the skills, training, and mindset to lead the ESG movement. This flagship program reaffirms SCG's commitment to leveraging education to develop future leaders and citizens of a Net Zero society.
This accolade also underscores SCG’s efforts to collaborate with the public and private sectors in Vietnam to chart pathways towards a green and sustainable economy. One of the remarkable initiatives is the annual Vietnam Circular Economy Forum, organized by the Ministry of Natural Resources and Environment, SCG and other key stakeholders. As a premier platform for substantive dialogue among policymakers and business leaders, the Vietnam Circular Economy Forum facilitates common ground for collaboration and progress in this critical arena.
“The path to accelerate Vietnam's green and sustainable economy, thus fostering new dynamism and competitiveness, necessitates collective efforts from businesses. We’d like to extend our gratitude to SCG as well as other stakeholders in the private sector for their dedicated support in advancing the country's transition from a "brown" economy to a "green" economy, with the goal of achieving Net-Zero by 2050. And we have full confidence that they will serve as dependable ESG partners in fulfilling Vietnam's socio-economic sustainable development objectives in the short, medium and long term.” Mr. Dao Quang Binh - Sub-editor of Vietnam Economic Times, representative of the organizer board claimed.
As sustainability becomes imperative, SCG is committed to playing its part so that generations, both current and future, can prosper and thrive. The recognition from the Golden Dragon Awards program, along with the 'Passion for Inclusive Green Growth' direction, set a new level of ambition for SCG to reach new heights and co-create a Net Zero society that grows sustainably.
Van Luong (Vietnam Business Forum)
Vietnamese
