In this context, environmental, social, and governance (ESG) practices have transitioned from optional to essential for companies to thrive and align with global environmental goals.

Luu Thi Thanh Mau, CEO, Phuc Khang Corporation

Since its inception, Phuc Khang Corporation (PKC), a green building developer in Vietnam, has been committed to leading and promoting the creation of a better lifestyle for community health and sustainable ecological environment in line with global green standards.

PKC has consistently delivered high-quality real estate products, enhanced living standards while ensuring harmony with the environment. Over its 14-year journey, PKC’s corporate social responsibility (CSR) initiatives have evolved in quantity and quality. In 2021, it launched community campaigns which included free vaccination programmes, support for the Young Entrepreneurs Association’s ATM programme, donations of protective gear and medical equipment, and thousands of gift packs, test kits, beds, and meals for vulnerable communities.

Last year, focusing on a green and sustainable environment, PKC intensified its environmental initiatives through activities like greenification, clean-up, ecological protection, sponsoring research on climate change impacts, and promoting green education through green study tours with universities and research institutes.

Building on years of such practices, PKC has seamlessly transitioned to integrating ESG strategies into its operations. The company’s CSR activities already align with ESG metrics, laying a solid foundation for future ESG practices. This transition signifies PKC’s evolution in keeping with global trends.

In its ESG journey, PKC aligns closely with the 17 Sustainable Development Goals of the United Nations. The company’s specific ESG strategies target distinct goals, contributing to broader community objectives. In the first half of 2023, PKC implemented concrete activities under its ESG framework. Environmentally, the company is applying circular economy principles in its operations, pursuing international green building certifications, and organising more green study programmes.

Socially, PKC ensures compliance with wage, bonus, and mandatory insurance regimes, conducts comprehensive health check-ups for employees, maintains gender equality assessments using the GEARS tool, and continues internal training programmes. In governance, it focuses on digital transformation projects like E-Office, specialised training for management, and refining policies and procedures for stakeholder engagement.

Vietnam’s commitment to net-zero emissions by 2050 is accelerating the shift towards sustainable practices in various sectors. Companies like PKC are at the forefront, demonstrating how integrating CSR into a broader ESG framework can lead to sustainable and meaningful business development.

This transition is not just a corporate effort but a journey towards a sustainable future for the entire community. As more businesses in Vietnam adopt this approach, it sets a promising trend for the nation’s path to achieving its climate goals and sustainable development.

ESG practices do not fundamentally alter PKC’s essence, strategy, or operations; rather, they provide a clearer direction for sustainable and appropriate growth. It serves both as a yardstick and a catalyst for corporate advancement. Most businesses, including PKC, are not starting from scratch with ESG but are at various stages of its implementation.

This journey is a long one, requiring systematic and serious investment by enterprises. It stands as a sound strategy that helps businesses build a set of common standards, promoting sustainable growth and contributing to society and the community.

A successful ESG strategy will lay a vital foundation for sustainable development, creating significant value not just for businesses and entrepreneurs, but also for the community and stakeholders. With that, the company has set clear goals: to create green buildings, a green community, and a green future.