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PNJ reaches new heights with comprehensive ESG strategy
At TOP50 CSA 2023, PNJ was honored "Sustainable Business of the Year" and scored a hat-trick in 3 typical categories: Pioneer in waste reduction (E), HR strategy for sustainable development (S), ESG leadership (G).
According to Ms. Tran Phuong Ngoc Thao, Vice Chairwoman and Chairwoman of PNJ ESG Committee, “The ESG strategy has been integrated into PNJ’s overall development strategy. Thereby, all macro management strategies, initiatives, production and business activities, social activities of PNJ take ESG as a guideline.”
This award is a clear demonstration of PNJ’s comprehensive sustainable development orientation. The business has contributed to promoting the trend of sustainable development that spreads widely in society, while inspiring the domestic business community to practice sustainable development in a substantive and effective way.
By sticking to the philosophy of sustainable development “PNJ acts responsibly to celebrate the beauty of people and life in a sustainable way”. In recent years, PNJ has improved its competitiveness, attracted investors, and strengthened international trade cooperation.
The sustainable development strategy and its focus on the environment, community, and social activities has created a sharp competitive advantage.
Moreover, today increased scrutiny from investors, shifts in consumer and customer expectations, changes in public policy have made ESG standards inevitable for businesses.
At PNJ, ESG has three pillars: Environmental; Social and Governance. This set of standards helps measure the factors related to sustainable development and the impact of businesses on the community.
The business makes a commitment that it is constantly improving and strictly adhering to issues related to ESG standards. ESG activities have received active and comprehensive participation from leaders, managers to employees, social organizations such as Trade Union, PNJ Union and spread nationwide. As a result, ESG has also become a guideline to help the business reach out and achieve positive results.
On the business “front”, in 2022, PNJ recorded revenue of more than VND 33,800 billion, a sharp increase of more than 73% over the same period and a profit of more than VND 1,800 billion, increased by 75.6%. PNJ’s market share in the mid-high-end segment has doubled, from 25% (2017) to 51%. Labor productivity also increased by 208%.
PNJ’s brand value announced by Brand Finance in 2022 has increased 3.7 times over five years, reaching $367 million. PNJ has also broken through, moving up to No. 2, just behind FedEx in KPMG’s customer experience rankings.
In addition, PNJ’s “F5” strategy has innovated methodically and thoroughly, bringing positive and humane values to society in the process of creating economic value of enterprises. Breaking the mold of traditional volunteer activities, PNJ elevates its CSR (CSR) programs into humane, practical and impactful campaigns nationwide.
Specifically, the zero-dongs mini supermarket chain organized by PNJ has become a key activity to take care of hundreds of thousands of disadvantaged people in Ho Chi Minh City. The overcoming companion program has empowered nearly 3,000 pregnant women who are far from their hometowns in difficulty. The project to raise awareness about autism in Vietnamese children was initiated by PNJ in cooperation with the Vietnam Children’s Fund. The Shelter & Trust program of PNJ has built nearly 450 houses to disadvantaged families across the country.
Only in the past 5 years (from 2018 to 2022), PNJ has contributed nearly VND 6,000 billion to the state budget, helping over 1 million disadvantaged people through community responsibility activities.
Taking a step further, in the future PNJ will continue to promote ESG implementation as Ms. Tran Phuong Ngoc Thao said: “ESG is no longer an option but has become a way for PNJ to fulfill its mission of serving society and community on the journey of sustainable development”.
Read our full 2022 Annual Report.
Source: cafef.vn, nhipcaudautu.vn