Vietnamese
Policy and Commitment on
Sustainable Values
Building trust with 3 pillars of Sustainability
In order to contribute to common socio – economic - environmental values and implement Sustainability goals, Vinamilk affirms that People, Products and Nature are the three solid pillars that help Vinamilk firmly succeed in its mission of “Bringing the most valuable nutrition source with all respect, trust and responsibility to the community”.
We assess the impact in the economic, environmental and social fields in each aspect in line with industry standards, linked to joint action towards the achievement of 17 Sustainable Development Goals of the United Nations, and a national action plan and to manage risks by establishing and managing the respective Sustainability-related risk portfolio in order to minimize undesirable impacts on the accomplishment of goals and commitments around the three pillars of Sustainability.
Detailed information on the risk management structure, risk management activities implemented in 2022 at Annual Report 2022 – Page 96 - 98
We assess the impact in the economic, environmental and social fields in each aspect in line with industry standards, linked to joint action towards the achievement of 17 Sustainable Development Goals of the United Nations, and a national action plan and to manage risks by establishing and managing the respective Sustainability-related risk portfolio in order to minimize undesirable impacts on the accomplishment of goals and commitments around the three pillars of Sustainability.
Detailed information on the risk management structure, risk management activities implemented in 2022 at Annual Report 2022 – Page 96 - 98
| Sustainability Pillars | Commitment | Area | Aspect | Subjects | Risk portfolio | SDGs |
|---|---|---|---|---|---|---|
People
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Vinamilk is constantly rising, creating and sharing values and developing together with stakeholders towards the goal of “Stand Tall Vietnam, reach out to the world”.
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Economy
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Local Economies
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Risks of raw milk supply
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Economy
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Market Development
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Consumer perception risk
Risk of fraud and corruption |
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Society
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Working conditions
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Occupational health and safety risks
Succession risk Risks of recruiting and talents Risk of compliance with legal regulations Risk of fraud and corruption |
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Industry standards
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Animal Welfare
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Risk of cattle disease
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Product
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The principle throughout Vinamilk’s operation is to put the quality first. Vinamilk aims to bring safe products, the best value and benefits to human health and create many environmentally friendly products and services.
At the same time, Vinamilk is committed to transparency and responsible communication for product information. Reaching for perfection with all passion, constant creativity to stand tall Vietnam. |
Society
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Product Safety and Quality
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Product quality risk
Consumer awareness risk |
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Nature
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Vinamilk considers nature as a companion for sustainability and aims to reduce the carbon footprint on the green growth roadmap; application of environmentally friendly modern techniques; responsible and optimal use, exploitation and management of natural resources through a circular economy, linked to sustainability; apply green energy and technology, effectively manage waste sources and cover Vietnam with green trees.
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Environment
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Greenhouse Gas Emissions
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Environmental liability risk
Risk of compliance with legal regulations Risk of natural disaster and climate change |
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Waste
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Water availability and quality
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Soil Nutrients
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Biodiversity
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From frequent material
interactions
interactions
Vinamilk establishes effective and appropriate interaction and engagement channels for each audience to regularly receive and discuss the needs and expectations of stakeholders.
Shareholders/Investors
Approving the annual general meeting of shareholders, collecting written opinions, communicating directly/online with major shareholders on investment projects, surveying investor satisfaction and material aspects of sustainability that have brought Vinamilk a multi-dimensional perspective and positive input for future action plans.
Government
Vinamilk actively participates in perfecting the relevant industry legal system, pioneering in applying and updating State regulations, contributing ideas and exchanging directly/online through sharing sessions, seminars on legal documents.
Community
Vinamilk has been constantly contributing its resources to develop with the community and implement initiatives that are suitable for locality, production and business. Moreover, Vinamilk creates economic growth opportunities for the communities in which it operates.
Customers/Consumers
We interact and support customers through channels of collecting information from sales staff, supporting customers through online platforms and hotlines, and surveying consumer tastes and satisfaction to improve quality, spread green, clean nutrition source and join hands to implement the sustainability program.
In 2022, we implemented 39 trade support programs for existing partners and customers.
In 2022, we implemented 39 trade support programs for existing partners and customers.
Associations and NGOs
Vinamilk aims to become a dynamic company and actively seeks opportunities for cooperation and participation, contributing to the operation and sustainability of the dairy industry, building a powerful Vietnamese dairy industry, reaching out to the world through connections with DSF, VBCDS, National Institute of Nutrition, Vietnam Dairy Association, international nutrition corporations, etc.
Vinamilk also actively seeks suitable opportunities to engage in and become an active member in implementing initiatives on Sustainability in Vietnam and in the world.
Vinamilk also actively seeks suitable opportunities to engage in and become an active member in implementing initiatives on Sustainability in Vietnam and in the world.
Suppliers and Partners
Every year, we organize supplier evaluation programs and face-to-face/online exchanges through training sessions, surveys on criteria towards a sustainable and responsible supply chain.
In addition, we develop a Code of Conduct and require all suppliers to commit to compliance with issues of labor, human rights, business ethics, etc.
Farmers and livestock households: Maintain interactions with more than 4,000 livestock households and 80 transfer stations, and organize technical support programs for livestock units/households, improve milk quality and overcome difficulties due to weather.
In addition, we develop a Code of Conduct and require all suppliers to commit to compliance with issues of labor, human rights, business ethics, etc.
Farmers and livestock households: Maintain interactions with more than 4,000 livestock households and 80 transfer stations, and organize technical support programs for livestock units/households, improve milk quality and overcome difficulties due to weather.
Employees
We set up two-way information and consultation channels, internal communication channels, annual survey on working environment, sustainability, organization of annual employee conference as well as building a mechanism for direct discussion and resolving complaints in order to listen and timely support the mental life for employees and balance their life and work.
To the initiative of stablishing a Local management group under the DSF model
Based on the application of good practices in implementing Dairy Sustainability Framework (DSF), Vinamilk has established a Local Management Group (LMG) in order to promote the relationship between stakeholders and Vinamilk. LMG’s major role is to support Vinamilk in its efforts to become more sustainable. At the same time, LMG’s perspective as well as knowledge and experience will provide practical input in determining the materiality and future design of a sustainable strategy at Vinamilk.
In an effort to implement this model, Vinamilk initially made a list of related groups with the hope that they would become part of LMG, including farmers, suppliers, consumers, local authorities, and investors, etc. In the second step, members of the Sustainability Committee at Vinamilk nominate suitable representatives based on their understanding and familiarity and willingness to engage and accompany on Vinamilk’s sustainable development path. Vinamilk then sent invitations to identified stakeholders to express goodwill and share information on DSF practices and Sustainable Development activities.
In an effort to implement this model, Vinamilk initially made a list of related groups with the hope that they would become part of LMG, including farmers, suppliers, consumers, local authorities, and investors, etc. In the second step, members of the Sustainability Committee at Vinamilk nominate suitable representatives based on their understanding and familiarity and willingness to engage and accompany on Vinamilk’s sustainable development path. Vinamilk then sent invitations to identified stakeholders to express goodwill and share information on DSF practices and Sustainable Development activities.
Looking back at the whole process, Vinamilk expresses gratitude to stakeholders who have enthusiastically connected and supported VNM’s “more sustainable” goal. Accordingly, LMG was established including 6 representatives from investors, farmers, suppliers and NGOs. Vinamilk also held a sharing session about the orientation as well as the desire to be more sustainable to LMG with the desire to receive support, consultation and contribute to creating motivation and confidence for LMG to continue accompanying and supporting Vinamilk in accomplishing sustainability strategies.
At the same time, due to the impact of the Covid pandemic at the time of implementing the DSF model, Vinamilk could only connect with LMG through online means. In the future, Vinamilk is expected to build a mechanism to interact more directly with LMG, increase connection, strengthen relationships and intensively share impact around key areas, as well as the future of sustainability practice with LMG.
At the same time, due to the impact of the Covid pandemic at the time of implementing the DSF model, Vinamilk could only connect with LMG through online means. In the future, Vinamilk is expected to build a mechanism to interact more directly with LMG, increase connection, strengthen relationships and intensively share impact around key areas, as well as the future of sustainability practice with LMG.
1. Soil Quality & Retention
2. Soil Nutrients
3. Water Availability & Quality
4. Biodiversity
5. Market Development
6. Waste
7. Animal Welfare
8. Greenhouse Gas Emissions
9. Rural Economies
10. Working Conditions
11. Product Safety & Quality
