MESSAGE FROM THE CHAIRMAN OF THE BOARD
“Creating sustainable and prosperous value” has been established as the guiding principle for all activities
of PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC) in 2024. We are confident in our strong transformation, remarkable success, and our growing position as we aim to reach even greater heights.
Production reached
955.6
thousand tons
breaking the record in 2020
Dear Shareholders, Partners, Customers, and all Employees!
On behalf of the Board of Directors, I am pleased to present the 2023 Sustainability Report of PVCFC. This report documents our continuous journey towards sustainable development since our establishment, transparently and comprehensively. It serves as a foundation for PVCFC to affirm our commitment to sustainable development for all stakeholders.
Dear our Valuable readers!
As stated in the 2023 Annual Report, the market has experienced rapid changes in supply and demand balance, with geopolitical factors where global and domestic economic fluctuations affect each other. Never before have fertilizer prices shifted that continuously and quickly.
Nevertheless, PVCFC has made relentless efforts to overcome challenges and achieve impressive, comprehensive results across all operational aspects in 2023. We have not only increased production but also consumption levels. Production reached 955.6 thousand tons, breaking the record in 2022, while consumption soared to 1.267 million tons, the highest ever.
PVCFC’s efforts have been recognized with numerous awards from prestigious national and international organizations. These accolades include: Operating safely and steadily for over 350 days; Ranking among the top 10% of energy-efficient factories worldwide; Commitment from the Board of Directors to uphold good corporate governance practices; Recognition as a “Enterprise for the community” and “Exemplary enterprise for employees”; Receipt of the Gender Equality certification using the GEARS tool. These awards serve as motivation for the Company to remain steadfast and dedicated on the path of development, contributing to a more sustainable and prosperous Vietnamese agriculture.
We recognize that, alongside the positive impacts on crop productivity and national food security, the production and use of chemical fertilizers can also have environmental consequences. Throughout our development journey, PVCFC has been mindful of our role and responsibilities towards the environment and society.
We have always prioritized “Sustainable Development” as a strategic goal, integrating it with our economic growth objectives.
To enhance the positive impacts of sustainable development activities, PVCFC has established an ESG (Environmental, Social, and Governance) strategic orientation. Based on this framework, we have built a portfolio of strategic initiatives aligned with our sustainability focus areas. The implementation of these strategic initiatives will adhere to guiding principles across four dimensions: strategy, operation, finance, and compliance.
While consumption soared to
1.267
million tons
the highest ever
Our approach is grounded in ensuring a harmonious balance of interests among stakeholders, fostering environmental sustainability, and striving for the prosperity of the community and society as a whole.
PVCFC aims to focus all efforts on developing the Company to become one of the leading enterprises in the production and trading of fertilizers in Vietnam and Southeast Asia by 2030. Our perspective and development principles include:
Perspective
- Providing nutritional solutions for crops, contributing to ensuring national food security.
- Developing the Company with a governance model aligning with international standards, supporting the government’s “Tam Nông” policy (Nông dân - Farmer; Nông thôn - Countryside; Nông nghiệp - Agriculture) to transform agriculture into a modern, sustainable, and environmentally friendly sector.
- Developing the clean chemical and energy sectors in line with global energy transition trends
- Expanding business and production must always be aligned with environmental regulations, enhancing governance capabilities and contributing to societal development to ensure sustainable progress.
- Committing to continuous efforts in reducing greenhouse gas emissions and contributing to climate change adaptation through the research of eco-friendly products and initiatives aimed at decreasing energy and raw material consumption.
Development Principles
- Focus on sustainable development in the fertilizer sector, selectively invest in the agriculture value chain to create added value and enhance production efficiency
- Commit to developing high-quality and eco-friendly products.
- Ensure trustworthiness to customers, positioning the Company as a trusted partner for farmers.
- To enhance the positive impacts of sustainable development activities, PVCFC has established an ESG (Environmental, Social, and Governance) strategic orientation. Based on this framework, we have built a portfolio of strategic initiatives aligned with our sustainability focus areas. The implementation of these strategic initiatives will adhere to guiding principles across four dimensions: strategy, operations, finance, and compliance. Our sustainability solutions reflect PVCFC’s commitment to responsibility towards the environment and society, contributing to the overarching goal of achieving Net Zero by 2050.
- PVCFC warmly welcomes sharing, feedback and collaboration from our esteemed shareholders, customers, partners, employees, and the community to build the Company more sustainable and prosperous.
