Masan fulfills commitment to reduce emissions through practical actions

Masan recently received another "Top 50 Corporate Sustainability Awards" (TOP 50 CSA) for its efforts and commitment to supporting the government’s path to achieving net-zero emissions in 2024.

Complying with government policy

The United Nations General Assembly held the Climate Ambition Summit during the High-level Meetings of the 78th Session at the UN headquarters in New York in September 2023. The event saw the participation of numerous high-level leaders from various countries and international organizations. At the Summit, Vietnam reaffirmed its commitment to achieving net-zero emissions targets by 2050. With full support from the international community, Vietnam aims to rapidly reduce greenhouse gas emissions by 43.5% by 2030 and achieve over 70% renewable energy by 2050.

As a leading retail consumer company with a significant impact on over 100 million Vietnamese citizens, Masan is committed to achieving net-zero emissions by 2050 in compliance with government policy. The company is aware of its role and responsibilities toward the community and society, continuously raising its sustainability standards.

Masan highlighted highlights key focus areas for 2024 in its most recent annual report, with an emphasis on practical actions towards net-zero emissions targets. Accordingly, Masan will instruct its member companies and subsidiaries to implement industry-specific actions for climate risk management and carbon reduction.

Energy conservation and renewable energy

As part of its effort to achieve carbon neutrality by 2030, Masan is focusing on utilizing renewable energy sources for its operations. At present, more than 50% of Masan’s total energy consumption, as well as that of its subsidiaries, comes from renewable sources such as biomass and biofuels.

In 2023, Masan MEATLife (MML), a Masan subsidiary, successfully converted one of its four production facilities to operate entirely on biomass energy from rice husks and wood chip waste. Additionally, MML’s farm in Nghe An province utilizes pig manure to produce biogas, thereby reducing its reliance on external electricity sources. The company reported that although this initiative has enhanced energy efficiency, MML aims to convert the farm to operate entirely on biomass or biogas.

With the aim of maintaining its commitment to energy efficiency, Masan Consumer Holdings (MCH) has successfully made biomass energy the primary source for its operations, with an average usage rate of 87% across various facilities. MCH has optimized its production processes; reduced energy consumption by utilizing excess heat from frying and product sterilization; prevented thermal degradation; and adopted energy-saving technologies. Furthermore, the company coducts capacity building for its workforce, emphasizing the benefits of energy conservation through regular maintenance of machinery and equipment, to ensure effective implementation and minimize risks.

Masan High-Tech Materials (MHT), Masan’s mining division, has successfully reduced the power consumption of its sulfur tailings water recovery pumps by adjusting the pulley size. This adjustment, which increased the float height from 75 meters to 117 meters, aims to save energy by reducing pressure requirements.

MHT’s energy conservation efforts have received recognition with the ISO 50001:2018 Energy Management System certification, valid for three years from December 16, 2022, to December 15, 2025. This certification further motivates Masan to implement energy-saving solutions across all its production and business facilities.

Top 50 Corporate Sustainability Awards 2024

With the aim of promoting sustainable development trends and extending their impact within the Vietnamese business community and society, Investment Bridge Magazine conducted a selection for three categories: FDI businesses, listed businesses, and small and medium-sized businesses. Accordingly, selected businesses must meet the criteria for stable growth, environmental protection, corporate governance, and social responsibility.

The program's Evaluation Council consists of leaders from Investment Bridge Magazine, HSBC Bank, PwC Vietnam, the Institute for Circular Economy Development (ICED), Schneider Electric Vietnam, Talentnet, and Mekong Capital.

With a consistent sustainable development strategy, Masan Group has been listed multiple times within the "Top 50 Sustainable Company of the Year" rankings. In 2024, Masan Group was honored as the leader among listed companies, excelling in all three categories: Sustainable Resource Management, Human Resources Strategy for Sustainable Development, and Outstanding Corporate Governance.

"As a leading company in the retail sector serving 100 million Vietnamese consumers and a trusted partner to suppliers, we recognize the significant role and influence of the Group in upgrading the food value chain and contributing to Vietnam’s Net Zero commitment by 2050," said Le Ba Nam Anh, Senior Director of Capital Markets & Strategic Initiatives and ESG Committee Member at Masan Group.

"This approach requires a new perspective on future business models, where sustainable development involves risk management as well as creating value for customers, partners, and society. 'Doing Well By Doing Good' is the path we follow," he added.

Before the concept of ESG became prevalent in Vietnam, Masan Group had already focused on sustainable development activities. With over 28 years of serving consumers and affecting 100 million Vietnamese, Masan understands that ESG is an integral part of its business sectors. The company aims to make a meaningful contribution to Vietnam’s socio-economic development and provide long-term value to stakeholders.