Publish sustainability reports, increase transparency and governance efficiency

International standards but close to readers

Vinamilk launched its first Sustainable Development Report in 2012, which was published voluntarily and independently from the annual report. At that time, there were no mandatory requirements for preparing and publishing a Sustainable Development Report. The report was referenced according to the Global Reporting Initiative Standards for Sustainable Development Reporting (GRI Standards) issued by the Global Sustainability Standards Board (GSSB) in 2016, revised in 2021. This is the international standard and the latest version of Sustainable Development Reporting.

The 2023 PTBV Report has many innovations in both form and content. Photo: Vinamilk

In addition, the report also presents a number of additional published indicators according to GRI guidelines specifically for the food sector (GRI Food Processing). Vinamilk's strategic goals and activities are also linked to the United Nations Sustainable Development Goals (17 Sustainable Development Goals) and the Global Dairy Sustainability Framework (DSF).

The company representative said that the important results from the project with DSF helped Vinamilk come up with 11 key aspects and 6 priority aspects of sustainable development. This is an important step forward to help orient Vinamilk's sustainable development strategy closer to the core of the dairy industry.

In 2023, the theme of the Report is "Mindful change - Net Zero 2050", showing the contents related to Vinamilk's roadmap to implement Net Zero goals such as greenhouse gas inventory according to ISO 14064, units achieving carbon neutrality according to international standard PAS 2060:2014, action programs...

The information presented includes management methods and objectives to outline the overall picture of the year's activities and the future PTBV orientation. Emphasizing transparency, Vinamilk's PTBV Report is always guaranteed by an independent auditor.

The report content is divided into 11 key aspects, and viewers can quickly access each aspect. Photo: Vinamilk

“In addition to popular types of reports such as financial reports, management reports, etc., PTBV reports are increasingly interested in and highly appreciated by many investors before deciding to invest in stocks. For businesses that provide transparent information and PTBV data, the first target they attract are institutional investors, foreign professional investors, and large investors because these units are often interested in governance and production-business depth, and corporate responsibility to the community. In the long run, the PTBV practices of these businesses will also impact individual investors,” said Mr. Truong Hien Phuong - Senior Director of KIS Vietnam Securities JSC.

From 2019 to now, Vinamilk has also gradually reduced the number of printed copies and developed a vivid online version, helping viewers easily look up necessary information and contributing to reducing paper and protecting the environment. This shows the company's efforts in improving the dry report, making many figures more vivid and easier to understand for the public, even young people or students.

Make reports for the benefit of the business itself

At the end of 2023, the Prime Minister issued Decision No. 1726/QD-TTg approving the Strategy for stock market development to 2030. One of the notable contents is the direction on the application of environmental, social and corporate governance (ESG) standards at the Stock Exchanges and the Vietnam Securities Depository and Clearing Corporation towards sustainable development according to international practices.

Outstanding results in 6 priority PTBV aspects of Vinamilk according to the 2023 Report. Photo: Vinamilk

Mr. Truong Hien Phuong added: “Personally, I highly appreciate the trend of publishing PTBV reports because the world has been ahead of it for 10-20 years, but it has only become popular in Vietnam in recent years. Currently, only large enterprises have proactively published PTBV reports, but I hope that in the future, small and medium enterprises will realize the strengths and follow this trend to bring better benefits to consumers, the community and society.”

Talking about the implementation of PTBV reporting early, even when there were no mandatory regulations, Ms. Tran Thai Thoai Tran, Director of Vinamilk's Internal Control and Risk Management Department, said: "In order to effectively manage the PTBV aspect, the basic foundation that needs to start is the database and understanding of data. With the motto that what can be measured can be managed, behind each report is a huge data warehouse, helping Vinamilk have a correct and complete picture of the company's PTBV practices. This also helps us provide accurate, transparent and consistent data to stakeholders."

Listed companies preparing ESG reports or more broadly, PTBV reports are considered an important factor in the process of upgrading the stock market. Publishing PTBV reports is a very necessary practice of businesses demonstrating transparency, professionalism and focus on PTBV.

Vinamilk representative received the First Prize for PTBV Report in the 2023 Listed Company Selection. Photo: Vinamilk

It is known that Vinamilk has a whole process for preparing reports, according to which, personnel are specifically assigned to each field and member unit to ensure data collection, drafting, and publication. It can be said that with 12 PTBV reports containing a huge amount of information and data, Vinamilk is a typical example of initiative and professionalism. Thanks to that, this enterprise regularly participates in major awards with leading positions in PTBV reports and is often evaluated as "worth looking forward to" every year.

The representative of the Voting Council of the 2023 Listed Enterprise Voting shared: “Vinamilk's report continues to be a standard report, including all important indicators and areas; presented concisely and neatly with a moderate number of pages. Right from the beginning of the report, the General Director's message showed a high commitment of Vinamilk's Board of Directors and the successful integration of PTBV factors into the business strategy. This is reflected in the serious orientations and commitments to "bring net zero emissions (Net Zero) by 2050".

Source: https://laodong.vn/kinh-doanh/cong-bo-bao-cao-phat-trien-ben-vung-gia-tang-tinh-minh-bach-va-hieu-qua-quan-tri-1351638.ldo