Petrovietnam’s Chairman of the Board of Directors Hoàng Quốc Vượng at the workshop on July 27 in Hà Nội.—Photo pvn.vn

HÀ NỘI — Petrovietnam must be a pioneer enterprise, standing alongside the State and Government in implementing major policies and orientations on green growth, sustainable development and environmental protection.

Petrovietnam's Chairman of the Board of Directors, Hoàng Quốc Vượng, made the statement on July 27 in Hà Nội when he chaired a workshop "Green growth development trends, circular economy and proposals for Petrovietnam".

The workshop is one of a series of activities related to the group's sustainable development.

He told relevant units to complete the strategic report soon to raise the awareness of the group's officials and staff about the importance of green growth.

At the same time, he said it is necessary to strengthen communication to raise public awareness for both people and businesses in the country about the benefits of green growth and a circular economy.

Vượng also highly appreciated the comments of participants to improve the report.

Green-growth trend report

At the workshop, a group representative presented the report "Green growth development trends, circular economy and proposals for Petrovietnam".

The report assessed that green growth and circular economy are inevitable global trends when natural resources become exhausted to solve the problem of environmental pollution, respond to climate change and serve the goal of sustainable development.

The report also focused on clarifying the trends of green growth and circular economy in the world. Green growth includes promoting economic growth while ensuring that natural resources will continue to meet human demand for natural resources and habitats.

The report said that green growth is a new development model to sustain economic growth and ensure climate and environmental sustainability.

The report also pointed out that sustainable development paths to achieve green growth include circular economy, recycling and zero-emission, energy-saving and efficient use and ecological production.

The circular economy is a restorative and regenerative system through proactive planning and design. It replaces the "end of life" of materials with the concept of recovery, shifting towards using renewable energy, not using harmful chemicals that harm, reuse and reducing waste through the design of materials, products, engineering systems and business models within that system.

The circular economy will help reduce dependence on natural resources and reduce waste. The oil, gas and chemical energy sectors will have a greater opportunity to promote the circular economy along with other sectors of food, agriculture, fashion, textiles, construction, building materials, electronics and high technology.

The report clarified the impacts of green growth and a circular economy on the oil and gas sector. The sector has great opportunities in recycling and reusing raw materials and chemicals, especially in plastic recycling.

The report said international oil and gas companies in the European Union continue to be the leading oil and gas companies in promoting the development of a circular economy with specific published strategies and policies, such as Shell, BP, TotalEnergies, ENI, and Repsol.

Oriented developments

Besides, the contents of the development of green growth and circular economy have been developed and implemented by the group with many solutions to reduce emissions, protect the environment, save energy and develop clean energy following sustainable development direction.

The group is a pillar of the country's economy, supplying 100 per cent of dry gas, 70 per cent of petroleum fuel, 60 per cent of LPG fuel, 70-75 per cent of fertiliser demand and 8 per cent of electricity production for the country.

The group plays a vital role in the implementation of guidelines and policies of the Party and State to meet the demand for energy, raw materials and fuel for economic development and ensure the goals of environmental protection and sustainable development of the country.

To catch up with the trend of the energy transition, green growth and circular economy, the group has adjusted its development strategy by 2030, a vision towards 2045, to be consistent with the Political Bureau's Resolution No 55-NQ/TW, issued on February 11, 2020.

The strategy aims to build and develop Petrovietnam into the leading energy group in the country and the region and has a pivotal role in ensuring national energy security. — VNS