Sustainable goals
Associated with
the development criteria of the business
SUSTAINABLE DEVELOPMENT ORIENTED MANAGEMENT
Sustainable development-oriented management method
Based on compliance with relevant legal regulations of Vietnam, combined with international corporate governance practices, in addition to building and improving the management structure towards stronger and closer to international standards, PVCFC has built a management framework (including sustainable development-oriented corporate governance) including the Charter, regulations, rules, and legal documents within the Group to create a professional, transparent, and effective management system from the Parent company to its subsidiaries. As a result, PVCFC does not only ensure its highest management principles to protect the interests of shareholders but also balances development goals and shows responsibility towards society and the environment..
THE SUSTAINABLE MANAGEMENT MODEL AT PCVFC
THE BOARDOF MANAGEMENT
- General direction on the company’s strategic issues related to sustainable development.
- Approve objectives and action plans
THE EXECUTIVE BOARD
- Develop and present to the Board of Management objectives and action plans for sustainable development of PVCFC.
- Share strategies, goals, and sustainable development plans throughout the company.
THE FUNCTIONAL DIVISIONS
AND DEPARTMENTS
AND DEPARTMENTS
- Implement and realize the sustainable development plan in the direction of the Executive Board
STAFF
- Perform specific daily tasks related to PVCFC’s sustainable development goals
Expert Haldor Topsoe discussed with Vietnamese expert on the sidelines of the meeting.
Dr. Phan Minh Quoc Binh, PVCFC General Director Van Tien Thanh, PVCFC Chairman of the Board of Directors Tran Ngoc Nguyen and expert Haldor Topsoe at the meeting
The third meeting with the topic “Improving operational efficiency and sustainable development orientation in phosphorus production”. Dr. Phan Minh Quoc Binh, on behalf of the Subcommittee, gave a thank-you gift to the Meeting Sponsor, Mr. Tran Ngoc Nguyen – Chairman of the Board of Directors of PVCFC
PVCFC’s Company Governance model is based on a harmonious combination of factors:
Firm foundation of Company Governance structure
The governance structure of PVCFC has all the governance subjects of a listed company, including: the GMS, the Supervisory Board, the BOM, the Boards of the BOM, the Executive Board.
Towards international standards
The company adheres to international frameworks and practices on Company Governance, ASEAN Corporate Governance Scorecard and applies advanced and modern technology to Company Governance.
In compliance with Vietnamese practices and laws
The Company fully complies with the Laws, the legal framework of Vietnam and the management regulations for listed companies.
Apply uniformly throughout the Group
The Company adheres to the application of corporate governance tools throughout the Vietnam National Oil and Gas Group.
Principles of sustainable development management
Responsibilities of the BOM
- Establish clear roles, responsibilities and commitments of the BOM as set forth in the charter.
- Establish a competent and professional Board of Management.
- Ensure effective and independent leadership of the BOM.
- Establish committees under the BOM.
- Ensure the efficient operation of the BOM.
- Establish and maintain an ethical culture of the Company: Code of Conduct and Ethics.
Disclosure and transparency
- Strengthening information disclosure activities: Disclosure of information must comply with regulations on listed companies.
Shareholders’ rights
- Establishing a framework to ensure shareholder rights: A Code of Conduct.
Control environment
- Establish a strong risk management framework and control environment with the supervisory role of the Risk Management Committee.
Relations with stakeholders
- Enhancing effective stakeholder engagement: A Code of Conduct.
Sustainable relationships with stakeholders
Stakeholders are those who have the ability to affect PVCFC’s operations, or be affected by PVCFC’s production and business activities. Accordingly, the stakeholders identified by PVCFC include:
Stakeholders
Concerns
Approach method
Action of PVCFC
Shareholder - Investors
- Ensure efficient use of investment capital;
- Ensure Information is open, transparent and provided in a timely manner
- Stabilize and increase the value of the business and the value of shares on the stock exchange
- Corporate governance capacity.
- Equal treatment, ensuring the interests of shareholders and investors.
- Hold the annual or extraordinary GMS according to the law
- Receiving and communicating via email, phone, fax...
- Annual meeting
- Disclosure of information on the Company’s website
- Participate in investor forums and seminars to share information and investment opportunities
- Fully implement information disclosure procedures in accordance with regulations of the Ministry of Finance to ensure timely information provision to shareholders, investors and transparency in production and business activities.
- The exchange and disclosure of information must be fair, ensuring equal investment opportunities for all investors.
Partner
- Cooperation for development;
- Conduct responsible production and business
- Meet and talk face to face.
- Agreement in the cooperation contract between the two parties
- Coordinating to expand the scope of activities in the value chain of the agricultural sector
- Implemented on the principle of fair business, integrity, mutual benefits in all business cooperation activities with PVCFC
- Implement fair treatment between domestic and foreign partners.
Customer - Farmer
- Quality assurance and transparency of product information
- Product portfolio is diverse in type and price
- Continuously improving, upgrading service quality and sales process
- Increasing interactivity and listen to needs
- Organizing thematic programs, seminars, and dialogues with farmers via television
- Training sessions for farmers on techniques and fertilizer use
- Organizing many meaningful programs such as promotions, giving gifts to farmers
- Establishing a toll-free call center to receive direct feedback from farmers
- Taking the trust and satisfaction of customers as a measure of the value of product quality and brand reputation in the market
- Ensuring to provide the market with quality products, world-class advanced technology at reasonable prices, suitable for many types of soil, many types of crops, environmentally friendly to help farmers save costs and increase efficiency when using the product.
- Constantly applying advanced technology to new products to help farmers achieve high farming efficiency with reasonable cost savings.
- Actively participating in protecting customers against the problem of fake and poor quality fertilizers, widely communicating methods to distinguish genuine products from counterfeit products
Customers - Distributors, agents
- Signing agent contracts, purchase and sale contracts
- Interact, exchange, collect information of customers about their needs and desires
- Implementing customer care and engagement programs such as visiting groups, giving gifts to customers, sightseeing activities, tours.
- Connecting and exchanging between distribution agents
- Telephone system
Supplier
- Fair treatment among suppliers
- Cooperation for development
- Sustainable growth
- Face-to-face meetings and exchanges via communication channels (email, phone, etc.)
- Approving regulations and regulations related to procurement and consumption of products and services
- Through bidding activities, evaluate supplier’s criteria
- Building a feedback channel between the two parties to improve the quality of products and services
- Do not abuse the Company’s brand reputation to suppress and make unreasonable claims against suppliers, do not cooperate with units that entice or pay commissions, gratuities, in kind, gifts... for PVCFC employees
- Selecting suppliers fairly based on quality profile, technical ability, experience, etc.
Social community
- Enforcing environmental regulations to ensure fire safety and environmental safety at fertilizer plants
- Products with advanced quality, environmentally friendly
- Contribute to the development of the locality where PVCFC operates
- Coordinating with local authorities
- Disseminating and raising awareness about environmental safety
- Bilateral exchange through events
- Carrying out production and business associated with the responsibility of environmental protection, safety and social security
- Implementing annual social security programs and activities
- Sponsoring events and activities of relevant agencies in the fields of agriculture, rural areas, farmers, fertilizers...
Government, State agencies
- Contribution to the state budget
- Carrying out corporate social responsibility
- Implement and support the policy of the State
- Respect the Law
- Local economic development and industry development
- Making reports according to the provisions of law in the process of production and business
- Giving opinions on documents, decisions and laws promulgated by State agencies
- Coordinating with inspection teams of Ministries, Departments and sectors to explain related issues, overcome shortcomings and limitations (if any) at the request and recommendations of inspection teams.
- Coordinating with State management agencies to carry out activities on prevention of counterfeit, counterfeit and poor quality goods
- Participating in organizations and associations such as: Vietnam Fertilizer Association, Young Petroleum Enterprise Association
- Participating in specialized conferences and seminars organized by ministries, departments and branches
- Strictly complying with the provisions of the Law on tax, environmental protection, labor safety,...
- Actively and closely coordinating with local authorities in the construction of plants, completing stages on schedule, contributing to the State budget and creating jobs for local workers.
- Proposing appropriate adjustments to policies and regulations that still have many shortcomings when they are implemented, helping the Government and authorities at all levels to better perform the management work.
Media
- Transparent, accurate and timely information
- Publicly and transparently disclosing information on the mass media
- Meeting and answering interviews on demand (direct, indirect)
- Managing press releases, holding press conferences when there are events to be disclosed
- Regularly updating news and important events on the Company’s website
- Completing the content in English on the website
- Building good relationships with media agencies and press on the principle of transparency and legality.
- The messages and information provided ensure accuracy, clarity, completeness and objectivity, helping the press to have accurate information about the Company’s operations.
- Providing information and recommendations on the status of fake fertilizers/poor quality fertilizers for the press to promptly communicate to farmers.
Employees
- Being guaranteed with income, welfare regime and labor safety
- A civilized, non-discriminatory working environment
- Be trained, improved on capacity, skills and have the opportunity to develop oneself
- To be recognized for dedication and contributions
- Annual survey on working environment
- Annual Labor Conference
- Summary meetings
- Organizing training classes
- Effective internal communication
- Mechanism of direct exchange, complaint settlement
- Issuing and implementing policies
- Two-way information and consultation
- Department of Collective Labor Agreement
- Establishment of Trade Unions, Veterans’ Associations, Youth Unions, Clubs for the Advancement of Women...
- Collecting opinions via email, survey reports...
- Organizing a program to vote for typical individuals and groups
- Organizing many activities to propagate Safety - Health - Environment for employees
- The project “Reinventing PVCFC culture” has reached its maturity stage full of depth and color
- Developing training plans, organize refresher courses, seminars with experts for staff.
- Organizing internal activities of the Company: Culture, art, sports, tourism...
- Propagating and mobilizing employees to participate in social security programs
PETROVIETNAM CA MAU FERTILIZER JOINT STOCK COMPANY
Lot D, Ward 1 Industrial Park, Ngo Quyen Street, Ward 1, Ca Mau City, Ca Mau Province
2022 PBCM. ALL RIGHTS RESERVED.