Vingroup In the Making of Building a Green Future with its Ecosystem
Through a combination of technological innovation and a commitment to social responsibility, Vingroup is setting new standards for corporate sustainability in Southeast Asia.
HANOI, VIETNAM - Media OutReach Newswire - 27 September 2024 - The role of big corporations in the shift to a sustainable future is a topic widely discussed by many. Vingroup is demonstrating how large corporations can play a pivotal role in creating a sustainable future.
"Whatever benefits society and many people, and we have the capacity to do it, we will make it happen.", said Pham Nhat Vuong, Chairman of Vingroup. As the biggest private conglomerate in Vietnam, Vingroup announces its commitment to a sustainable future, with the help of technology.
At the heart of Vingroup's green transition is its "Creating a Green Future" principle, which positions the conglomerate as a leader in sustainable innovation across multiple sectors. This project has received notable recognition, including the prestigious AIBP 2023 ASEAN Tech for ESG Award. This accolade, which is awarded to organizations that leverage technology to advance environmental, social, and governance (ESG) goals, underscores Vingroup's leading role in fostering sustainability throughout Southeast Asia.
A Green Ecosystem Fueled by Technology
In the quest to embed sustainability into its business model, Vingroup has leveraged the power of technologies. Through the use of artificial intelligence (AI), the Internet of Things (IoT), and robotics, Vingroup is addressing environmental challenges across its industries.
In real estate—one of Vingroup's core strengths—it has set a new benchmark for sustainable urban development in Vietnam. One of its flagship projects, TechnoPark Tower, achieved LEED Platinum certification, the highest level of recognition for green buildings.
The TechnoPark Tower is equipped with a smart lighting and air-conditioning system, integrating nearly 3,000 sensors that allow automatic adjustments, resulting in significant energy savings of up to 17.4% annually compared to typical levels.
Vingroup's urban ecosystems are designed not only to provide luxurious living spaces but also to promote a healthier lifestyle. With its extensive urban green spaces, the Vinhomes developments offer residents an ideal blend of modernity and sustainability. The company's approach to "green urbanization" includes planting thousands of trees and promoting the use of renewable energy sources. In 2023 alone, Vingroup planted over 30,000 trees in a program organized by the For Green Future Foundation.
A Commitment to Global Sustainability Standards
When the world is moving in the direction of electric vehicles, Vingroup's leadership perhaps knew they couldn't wait on the sidelines. The shift of VinFast, Vingroup's carmaking arm, from producing internal combustion engine vehicles to smart electric cars is a bold step toward decarbonizing the transportation sector in Vietnam. According to Vingroup's annual ESG report, such efforts by Vingroup helped reduce approximately 500,000 tons of CO2 emissions in 2023.
Moreover, Vingroup's green initiatives go beyond the environment to encompass social responsibility. Through its VinHomes subsidiary, Vingroup has promoted the adoption of electric vehicles by offering significant incentives to residents of its smart urban developments. This strategy has led residents to increasingly opt for electric cars and motorcycles, further contributing to the reduction of urban air pollution.
Vinpearl, another gem in Vingroup's ecosystem, is also doing its part in the hospitality industry. In December 2020, Vinpearl became the only hospitality and entertainment brand in Vietnam to receive the 2019 Vietnam Environment Award from the Ministry of Natural Resources and Environment.
As the leading hospitality brand in Vietnam, Vinpearl has made "greening the tourism industry" a priority, alongside its business growth targets. Currently, Vinpearl's 45 establishments, located across 17 cities and provinces in Vietnam, are built with rainwater reservoirs for irrigation and closed-loop wastewater treatment systems that meet international standards. These features have led visitors and the community to acknowledge Vinpearl's destinations as true "green paradises."
Since July 2019, Vinpearl has implemented the Go Green project, aimed at eliminating plastic products at its business facilities and replacing them with environmentally friendly alternatives, such as paper, grass straws and cloth bags. All Vinpearl resorts and city hotels continue to replace old plastic items with similarly functional products made from biodegradable materials like sugarcane, bamboo, wood, fabric, and other eco-friendly substances. Remarkably, Vinpearl has reduced up to 1.4 tons of plastic waste per month at its peak.
Looking Ahead
As Vingroup moves forward, its vision for a sustainable future remains clear: to lead the charge in transforming industries through innovation and responsibility. With its ambitious goal of achieving net-zero emissions by 2050, Vingroup is well-positioned to shape the future of Southeast Asia's green economy. The group's ongoing investments in renewable energy, electric transportation, and sustainable urban development will undoubtedly continue to set new standards for what is possible in the realm of corporate sustainability.
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