On November 28, 2016, the award ceremony of Asia Sustainability Reporting Awards 2016 took place in Singapore. Bao Biet Holdings, a leading financial and insurance group of Vietnam, was honoured with the first prize of the Best Integrated Sustainability Reporting Award 2016 and the special prize of the Asia Sustainability Reporting Award 2016. This is not only a pride of Bao Viet Holdings as it has affirmed its leadership in sustainability but also a pride of Vietnam when the name of the country was cited with the most prestigious sustainability reporting awards. This is also a great source of encouragement for the Vietnam Business Council for Sustainable Development (VBCSD), a partner of the Asia Sustainability Reporting Awards 2016 (ASRA). VBCSD recommended, consulted and guided Bao Viet Holdings to join and complete sustainability reports in its best manner.
In 2014, Bao Viet Holdings joined VBCSD as an official member. The group’s efforts for the sustainable development of the business community have been recognised through its active engagement in VBCSD activities such as (1) communication and information on sustainable development to raise the awareness of the business community; (2) training on mainstreaming sustainable development and enhancing corporate competitiveness; (3) research and development; and (4) international cooperation in sustainable development. In addition, Bao Viet Holdings’ active participation in VBCSD-led activities also enabled it to acquire and enhance the knowledge of sustainable development through exchange of experience with leading organisations, specialists, expert materials, and especially competency of building and completing sustainability reports according to international standards.
Mr Nguyen Quang Vinh, General Secretary of the Vietnam Business Council for Sustainable Development (VBCSD), said, “Bao Viet Holdings is an active VBCSD member. We are proud when Bao Viet Holdings is honoured on the regional playground. We believe that this event will inspire other companies to join us and raise their positions in the eyes of domestic and foreign shareholders.”
Bao Viet Holdings’s reporting gained high regards from the Jury for content quality, creative display and specially information reliability guaranteed by a third party, which has not been done by any other Vietnamese companies. Not only providing financial information, Bao Viet Holdings’ reports also detail non-financial information such as development strategy, corporate governance, social responsibility and environment - its commitments to translating sustainability goals into actions.
Bao Viet Holdings’ Sustainability Report uses the most advanced standards today - GRI4 of the Global Reporting Initiative (GRI). GRI4 version is a big update from previous versions as it places emphasis on economic and environmental impacts. Materiality becomes criterion of reporting. Bao Viet Holdings is also one of the first companies to be certified by the Global Reporting Initiative (GRI) for practice of sustainability reporting.
Mr Nguyen Anh Tuan, Director of Operations Management, Bao Viet Holdings, said, “Sustainable development is one of strategic objectives at Bao Viet Holdings, not only integrated into the business strategy but also realised in everyday operations. Bao Viet Holdings is very proud when our efforts to communicate sustainability values on the community and promote sustainable business expressed in the Sustainability Reporting are recognised and proven by this year’s ASRA Award. This helps raise Bao Viet’s prestige with its commitments to sustainable business and that of Vietnamese companies in the regional market.”
ASRA, one of the most prestigious awards in the region, is held annually to recognise and honour companies taking the lead in sustainability reporting, promoting responsible business, disclosing sustainability information in Asia, raising the awareness of sustainability importance and benefits, and support Asian companies acquire experience through best practices of sustainability and economic integration in the world. In 2016, the awarding ceremony was held in Singapore. Bao Viet Holdings won the Best Integrated Sustainability Reporting Award 2016 and the Asia Sustainability Reporting Award 2016.
Also in 2016, defeating hundreds of candidates with positive contributions to sustainable development, Bao Viet Holdings was honoured in the 10 Most Sustainable Companies in Vietnam 2016 by VBCSD, Vietnam Chamber of Commerce and Industry (VCCI) in cooperation with the Ministry of Labour, Invalids and Social Affairs (MOLISA), the Ministry of Industry and Trade (MoIT), the Ministry of Natural Resources and Environment (MONRE), the Vietnam General Confederation of Labour (VGCL) and the State Securities Commission (SSC).
In addition to ASRA Awards and the Programme on Ranking and Benchmarking Sustainable Companies in Vietnam in 2016, Bao Viet Holdings was also honoured in other domestic and international Annual Report and Sustainability Report contests in 2016. The group garnered the Special Prize of Annual Report, the First Prize of Sustainability Reporting, the Second Prize of Corporate Governance Report at the Annual Report Contest 2016. Bao Viet Holdings was one of a few Vietnamese companies to take five platinum awards for Integrated Reporting and Sustainability Reporting at Vision Awards (USA).
Duy Anh
Vietnamese
