Following the trends shaping global corporate governance, PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC, Hose: DCM) is increasingly committed to sustainable development, with the Company’s governance practices centered on 3 factors: Environmental, Social, and Governance (ESG).
In June 2024, PVCFC promulgated a strategic orientation for sustainable development (ESG), to be woven into the fabric of PVCFC’s development strategy leading up to 2030, with a vision to 2045. In alignment with this orientation, PVCFC is steadfast in promoting governance best practices by undertaking several greenhouse gas emissions reduction projects, thereby making a significant contribution to Vietnam’s ambitious target of achieving Net-zero emissions by 2050.
On June 24th, 2024, the Seminar “Greenhouse Gas Emissions: Vision, Opportunities, and Challenges for PVCFC” was held, presided over by Mr. Tran Ngoc Nguyen, the Chairman of the Board of Directors, with the participation of members of the Board of Directors, Board of General Directors, heads of committees and unit within the Company, as well as the presence of Assoc. Prof. Dr. Nguyen Dinh Tho, Director of the Institute of Strategy and Policy on Natural Resources and Environment. Together, they engaged in a comprehensive dialogue about PVCFC’s vision, opportunities and challenges associated with greenhouse gas emissions.
Assoc. Prof. Dr. Nguyen Dinh Tho - Director of the Institute of Strategy and Policy on Natural Resources and Environment, provided an overview on the global imperatives for greenhouse gas (GHG) emission reduction, Vietnam’s policy framework for GHG emissions reduction, emission reduction mandates for 1,912 large-scale emitters within the country, the non-tariff technical barriers that influence sustainability and emissions reporting, and most prominently, the unique opportunities and challenges that PVCFC encounters in this context.
Ca Mau Fertilizer has launched many programs to help farmers gain access to high-quality fertilizers.
The Company recognizes that embracing ESG practices will open the door to many opportunities, from financial benefits such as attracting investment capital to long-term economic values like sustainable business operations, bolstering reputation, and elevating the corporate brand.
Currently, GHG emissions and global warming are of special concern and focus to PVCFC. The Company constantly improves techniques, optimizes fuel sources, searches for new and breakthrough solutions to save and increase capacity, thereby reducing greenhouse gas emissions for Ca Mau Fertilizer Plant.
PVCFC always strives to adhere to the regulations on GHG emissions reporting. As a key player in fertilizer manufacturing and trade, PVCFC ensures full compliance with the Government’s Decree No. 06/2022/ND-CP on mitigation of GHG emissions and protection of ozone layer, Circular No. 38/202/3 TT-BCT on methods for measurement, report and verification of reduction in GHG emissions and GHG inventory development in Industry and Trade sector.
Ca Mau Fertilizer has launched programs on optimizing fertilizer use efficiency, contributing to environmental protection
The Ca Mau fertilizer plant has been recognized by the technology copyright house Haldor Topsoe of Denmark by placing in the top 10% of fertilizer plants with the lowest energy consumption currently and consistently decreases over the years. In 2023, the gas energy consumption was 35,494 GJ/Ton NH3, a 4.3% decrease from the 2022 figure of 35,648 GJ/Ton NH3. Furthermore, the emission intensity in 2023 saw a reduction of 0.56% compared to the previous year. These figures highlight the critical role that ongoing projects, enhancements, and improvements have in reducing energy consumption and greenhouse gas emissions.
PVCFC acknowledges the complexities introduced by new legislation, new-generation trade agreements, EU deforestation-free regulations, and carbon border adjustment mechanisms. Despite these challenges, PVCFC remains acutely conscious of the gravity of climate change around the world and in Vietnam. Prioritizing the reduction of climate change impacts is of utmost importance and essential to the Company’s production and business operations. PVCFC is committed to ongoing workshops and subsequent actions for greater sustainable development.
PVCFC