Sustainability
Message from CEO
Dear Stakeholders,
2023 was another year of multiple challenges, including geo-political instability, continued climatic changes, and increased cost of living. In times like this, we are reminded of the essential role of Masan Consumer: as a leader in the food supply chain employing more than 5,000 employees with manufacturing and distribution footprint spread across Vietnam, we have continuously strived to build a sustainable business that not only does well for our shareholders and ourselves but also for the broader society.
The sustainability journey is not something novel to Masan Consumer but a culture deeply rooted in our decades-long commitment to “Doing well by doing good.” In the past, we have shown our commitment through strict adherence to environmental and labor regulations, the implementation of various community development initiatives, and the adoption of governance policies aligned with international standards. Now, we want to move beyond compliance to becoming a true sustainability leader in Vietnam. That means institutionalizing ESG by embedding it into our corporate strategy, business planning and KPIs so that all our businesses, employees, and suppliers take ownership and raise standard in their everyday operations, making “Doing well by doing good” a living motto. By doing so, we believe that we will become Vietnam pioneer in ESG and corporate’s responsibility, leading and encouraging other stakeholders to join the sustainability movement.
Our accomplishments to date and the plan shared in this Sustainability Report are just the beginning. As we execute the strategy and onboard more stakeholders to our journey, we will refine and expand our vision to not only serve 100 million consumers “well,” but also how to create a “good” environment where everyone can thrive.
2023 Highlights
Our commitment to sustainable business practices over the years has earned us third party recognition from national and international organizations
Sustainability Strategy 2023 - 2025
Masan Consumer’s Sustainability Strategy fully adheres to Masan Group’s Sustainability Strategy, prioritizing the issues that matter most to our business and stakeholders, focusing on areas that have the greatest impacts.
Our Sustainability Framework aligns with the United Nations’ 17 Sustainable Development Goals (UN SDGs) and the International Finance Corporation (IFC) Performance Standard. We are committed to creating value to our customers and stakeholders by Driving innovation for sustainable growth, Caring for the environment and communities and Winning the hearts and minds of our people and customers, with a focus on 8 material topics as illustrated below.
Materiality assessment for Masan Group and Masan Consumer was undertaken with a global consulting company with well-established expertise in the sustainability advisory landscape. The assessment entailed a comprehensive analysis of key ESG issues that impacted our stakeholders and businesses. It also considered where Masan Consumer operations may impact the environment and society. A defined approach was used to better understand, act upon, and communicate our most important sustainability-related topics by outlining the importance of a topic to Masan Consumer’s stakeholders against the significance of impacts to Masan Consumer. We also benchmarked ourselves against industry peers and global frameworks to complement the insights from the stakeholders’ interviews.
Our approach to sustainability
In 2022-2023, we began the process of integrating Environmental, Social, and Governance (ESG) considerations into our operations with support from Masan Group. We initiated the process by identifying ESG topics material to our business, operations, and value chain through a materiality assessment. We set ambitions and targets, defined key performance indicators (KPIs), developed action plans, and implemented an effective governance structure to facilitate the achievement of those targets. In 2024, we will continue integrating ESG into our operations and decisions.