The recognition underscores PRIME GROUP's efforts to pursue sustainable development, as the group now owns some of the most sustainable companies in Vietnam, namely PRIME TIEN PHONG, PRIME YEN BINH, PRIME DAI VIET, and PRIME DAI LOC.

PRIME GROUP has been named in the Top 100 Sustainable Companies in 2023.

Lead the transition to a sustainable and green future

Over the past few years, concepts around sustainable development and ESG (Environmental, Social, and Governance) concepts have begun to take root in Vietnam. Numerous companies are actively pursuing strategies for a green transition, aiming to reduce emissions and combat pollution. Particularly, there's a noticeable commitment to this trend within the construction materials industry. Companies in the sector are attempting to promote the adoption of environmentally friendly technology, transforming production processes, and sourcing low-emission materials to minimise their carbon footprint. This aligns with the industry-wide initiative to curtail greenhouse gas (GHG) emissions.

According to Luu Linh Huong, Senior Specialist of Science, Technology, and the Environment under the Ministry of Construction (MoC), the MoC is gearing up to conduct GHG inventories at the industry and facility levels in 2024. Under the MoC’s roadmap, facility-level GHG inventories must be carried out every two years for crafting a mitigation plan, linked to the implementation of the green transformation, which will involve assessing waste and developing a plan to collaboratively achieve a Net Zero emission reduction.

As the green transition is speeding up, construction materials companies are required to formulate a clear roadmap to navigate challenges and grab opportunities. This landscape is prompting well-established and resourceful companies like PRIME GROUP to lead the changes. Established in 1999, PRIME GROUP is one of the leading manufacturers of ceramic tiles, roof tiles, and electric water heaters in Vietnam and ASEAN. As part of its transformation, the company is accelerating the push for sustainable development based on three pillars, covering vision, strategy, and execution.

PRIME GROUP's long-term vision is to leverage the benefits of sustainable development to enhance competitiveness in the local and international markets. This can be achieved by developing green products, services, and solutions that meet the diverse needs of eco-conscious consumers. Meanwhile, with a vision to enable the green transition in the construction materials industry, PRIME GROUP is also expanding its green production capacity and adopting cutting-edge technology across its member companies, which will create spillover effects on the entire industry.

In addition, PRIME GROUP has closely followed SCG's ESG 4 Plus strategy since its launch in 2021. This strategy allows PRIME GROUP to factor ESG into their member companies’ business decisions to achieve shared objectives such as achieving Net Zero, Go green, Reduce inequality, Embrace collaboration, and upholding strong governance principles. Under the ESG 4 Plus strategy, PRIME GROUP continues to make progress on the ESG front and plays an important role in assisting the transition to a low-carbon construction materials industry.

The third and last pillar is developing a future-ready workforce, from boards of directors to individual employees, to enhance execution in the organization. Accordingly, boards of directors play a key role in crafting PRIME GROUP’s vision and strategy, which inspires employees to make more sustainable decisions. Meanwhile, employees can gain access to new technology and R&D capabilities to successfully execute ESG initiatives. With positive leadership and employee involvement, PRIME GROUP aims to combine vision and strategy with strong execution to achieve sustainable development goals for the long haul.

The representative of PRIME GROUP said: "Given that sustainable development is at the heart of our strategy, we have won big in the CSI 2023. Despite being newcomers this year, four out of six-member companies have been named among the Top 100 Sustainable Companies. To earn this recognition, PRIME GROUP and our member companies remain steadfast in improving ESG practices, which are aligned with the CSI criteria and SGC's ESG 4 Plus strategy. We also place emphasis on compliance with the law, commitment to environmental protection, and dedication to corporate social responsibility activities. The drive for sustainable development goals will help us make further breakthroughs."

Best practices for a successful ESG strategy

Indeed, PRIME GROUP and its member companies are at the forefront of the ESG movement, implementing many initiatives to drive sustainable growth. One of the key initiatives is applying the 4R strategy of circular economy (reduce, reuse, recycle, and replace) at factories to lower the carbon footprint. The efforts include cutting down on raw material consumption, reducing plastic waste, reusing materials as well as implementing recycling processes for wastewater, scrap metal, and other resources.

PRIME installed hot air generator to use biomass to reduce greenhouse gas (GHG) emissions

In addition, PRIME GROUP also made an unwavering commitment to reduce carbon footprints to realize SCG's Net Zero goals by 2050. To facilitate the goal, the member companies have jointly increased their share of renewable energy such as biomass, solar roof system, replaced conventional vehicles with electric vehicles, and invested in low-carbon projects. This is coupled with heavy investments in R&D to produce new tile products certified SCG Green Choice, which is the labeling system to certify environment-friendly products and services within SCG. By increasing the proportion of SCG Green Choice products, PRIME GROUP aims to offer eco-friendly options to ensure the health and well-being of customers.

PRIME's tile product lines are all environmentally friendly and safe for customers' health.

Thanks to these efforts, PRIME GROUP and its member companies have achieved high scores under the Corporate Sustainability Index (CSI). A big theme in the CSI 2023 program was progress on a circular economy. Among them, PRIME GROUP and its member companies also stand out for their initiatives aligned with circular economy principles.

In a turbulent environment, ESG-oriented companies can gain a competitive edge to future-proof their businesses and deliver meaningful impact over the long term. As one of Vietnam's leading construction materials manufacturers, PRIME GROUP is inspiring other industry players to follow suit and make sustainability a top priority to contribute to the government’s sustainability goals. Moving forward, PRIME GROUP and its member companies will continue to take action to achieve sustainability results on a larger scale.