Coca-Cola, top 4 most sustainable companies in Vietnam
Coca-Cola, top 4 most sustainable companies in Vietnam
Coca-Cola Vietnam was named among Vietnam’s 4 most sustainable companies at the Vietnam Corporate Sustainability Forum 2022, organized by the Vietnam Chamber of Commerce and Industry (VCCI) in cooperation with the Vietnam Business Council for Sustainable Development (VBCSD).
This is the 7th consecutive year the company has been honoured as one of the most sustainable companies in Vietnam, reaffirming its continuous efforts to making a positive difference in local communities while protecting the environment.
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Today, most companies are working to rebuild stronger from the pandemic and position themselves for a more sustainable future. This has resulted in significant investments in environmental, social and governance (ESG) priorities over the past year. Many companies have been implementing outstanding sustainability activities, making the work of the CSI-100 Board of Management particularly difficult to pick the top performers in the field.
“2022 saw significant sustainability investments by domestic and foreign enterprises. Being recognized as Vietnam’s 4th most sustainable business at the CSI Program is a great honour for Coca-Cola. This award validates our journey for sustainable development in Vietnam, as we continue to stay laser focused on our company purpose of ‘Refresh the world and make a difference’. To pursue our sustainable packaging vision of ‘A World Without Waste’, we will continue innovating and implementing partnership programs to enhance the lives of Vietnamese people and spread a spirit of positivity,” said Peeyush Sharma, CEO of Coca-Cola Beverage Vietnam Limited.
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Contribution to socioeconomic development in Vietnam
Coca-Cola has remained persistent in its contribution to socioeconomic recovery and development and creating a driving force for growth in the new normal in Vietnam.
Coca-Cola helps to give back to communities and nature more water than the company uses in its finished beverages. With its partners, Coca-Cola has helped to install water filtration systems at schools and has established social enterprises, known as EKOCENTERS, across the nation providing approximately 10 million liters of free drinking water to 800,000 beneficiaries through advanced water purification technology.
In addition, the latest Coca-Cola beverage factory in Long An, which broke ground in October 2022, will create more jobs and train more skilled workers. With its modern production lines and smart design elements, it will also contribute to Vietnam’s commitment to reduce net emissions to zero by 2050. To contribute to environmental sustainability, the company continues to work towards its vision of a ‘World Without Waste’ with a goal of collecting and recycling every bottle and can it sells globally by 2030. It is also rolling out packaging innovations to promote a circular economy model.
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Progress in Vietnam to realize “A World Without Waste” vision
Throughout its 30 years of operations in the country, the company has launched several projects to deliver on its sustainability goals. Most recently, through its ambitious vision on a "World Without Waste", Coca-Cola is making its packaging part of the circular economy through a strategy anchored in three interrelated goals: Design, Collect, and Partner.
In September 2022, Coca-Cola Vietnam took another meaningful step towards advancing a circular economy by introducing bottles made from 100% recycled PET plastic (rPET), except for the caps and labels, across the country. The move is helping the company reduce new plastic usage by over 2,000 tonnes a year in Vietnam. Coca-Cola Vietnam is also leveraging the reach of its brands to inspire people to recycle by placing a prominent RECYCLE ME message on all its packages. The company has also made its bottles easier to recycle by changing the iconic Sprite bottles from green to clear PET plastic.
In addition, Coca-Cola Vietnam is one of the founding members of the Packaging Recycling Organization Vietnam (PRO Vietnam) that was established to accelerate recycling across the country. It is also extending the reach of its Plastic Action Network program to Can Gio district (Ho Chi Minh City) in partnership with GreenHub to bolster the local plastic waste management system and promote the formation of a circular economy model in South Vietnam.
To raise awareness and find innovative solutions for plastic waste management at locations including Cu Lao Cham and Cat Ba islands, Coca-Cola Vietnam has worked with UNESCO to support the launch of the Youth and Innovation for Ocean Initiatives project. The company has also partnered with The Ocean Cleanup to deploy a river cleanup system in the Can Tho River which extracts up to 400kg of trash a day.
The recognition by VCCI for Coca-Cola as one of most sustainable companies in Vietnam is a great encouragement to the company. Coca-Cola Vietnam remain committed to sustainable development by innovating in its local operations while helping to protect the environment and giving back to the communities. These ongoing projects, aligned with its purpose to "‘Refresh the world and make a difference" encompass Coca-Cola’s drive for sustainable development hand-in-hand with the country for a better shared future.
