Petrovietnam organizes ESG workshop applied to Petrochemical and BSR sectors
Attending the workshop, on Petrovietnam's side, there were Mr. Bui Minh Tien - Member of the Board of Directors; Ms. Nguyen Thi Thuy Tien - Head of Strategy Department; Ms. Le Thi Lam Tra - Deputy Head of Human Resources Management Department; Mr. Nguyen Quang Huy - Head of Environment Department, Safety Technology and Environment Department, and representatives of the Group's professional departments. On BSR's side, there were Mr. Nguyen Van Hoi - Chairman of the Board of Directors; Mr. Bui Ngoc Duong - General Director; and members of the Board of Directors, Board of Directors, Board of Directors of Dung Quat Refinery and representatives of functional departments and branches of BSR.
Overview of the Workshop
Speaking at the workshop, Mr. Nguyen Van Hoi - Chairman of BSR's Board of Directors expressed his sincere thanks to the Board of Directors and professional departments of Petrovietnam for spending a lot of time researching, disseminating and improving the understanding of the Group's units about the meaning of ESG. Through that, it helps units have a common understanding of ESG and orient sustainable development strategies, comply with environmental, social and governance standards, and commit to ethical behavior towards the environment, customers, community and partners. The workshop program also oriented important and necessary contents for BSR in the coming time.
Mr. Nguyen Van Hoi - Chairman of BSR Board of Directors spoke at the Workshop.
The workshop program organized exchanges and discussions including the following contents: Overview of ESG; environmental factors; social factors; governance factors; integrating ESG into business strategy; applying ESG in Vietnam, Petrovietnam and its member units; ESG reporting; ESG in the petrochemical refining sector and its application to BSR.
ESG stands for 3 factors: “Environmental – Social – Governance”. The above 3 factors are used to measure the level of sustainable development and the impact of businesses on the community. In addition, this is also a set of standards to help evaluate the financial performance of a business and is a measure of the impact of business activities on the environment, community, and management. Therefore, ESG plays an important role in determining and promoting sustainable development and corporate social responsibility. For the energy and oil and gas sector, ESG will contribute to sustainable development; control risks; promote the development and integration of clean energy; increase competitive advantage and create values for society and the community. At the same time, integrating ESG into business strategy not only creates economic benefits, but also contributes to helping businesses develop sustainably, protect the environment and society in the future, opening up sustainable development in the energy and oil and gas industry.
Mr. Bui Minh Tien - Member of Petrovietnam Board of Directors teaches research related to ESG.
In the petrochemical sector, which is assessed to have a high level of environmental and social risks. Therefore, this is both a challenge and a driving force to promote ESG practice and compliance. Specifically, challenges include: lack of ESG data, impact on performance and profits; ESG drivers are environmental and social risks; State policies and regulations on environment and society for long-term, sustainable development such as the Net Zero commitment; tax and fee policies...; greening efforts in the global value chain, sustainability; access to financial resources for upgrading and expansion; energy transition; improving efficiency and reducing costs to help petrochemical companies optimize production processes, save energy...
Representatives of Petrovietnam's professional departments presented ESG-related content.
For BSR, good ESG implementation will help the unit build its image and reputation with customers, partners and the community; attract investors, increase market share, improve productivity, reduce costs...; help BSR build a network of connections with stakeholders in the community, thereby making the most of available resources.
Petrovietnam representative awarded certificates of completion of ESG-related goals to participating delegates.
The workshop attracted the attention, exchange and lively discussion from representatives of units and functional departments of the Factory Block. Interesting questions were raised with in-depth answers from the delegates, showing that ESG is increasingly becoming a top concern of business managers. At the end of the program, the Group awarded certificates of participation in the workshop and gifts to the delegates.
Thanh Linh
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Source: https://www.pvn.vn/chuyen-muc/tap-doan/tin/2f71c1cd-0c0e-416f-abe9-54268faca715
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