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AES Mong Duong issues third Sustainability Report

Update: November, 26/2021 - 09:35

AES Mong Duong issues third Sustainability Report, highlighting Mong Duong 2’s contributions to sustainable development in Việt Nam

HÀ NỘI — Under the theme “A Thriving Partnership for a Sustainable Future”, the 2018-2019 Sustainability Report outlines AES Mong Duong’s positive business impact through delivering sustainable value to our stakeholders, while contributing significantly to the sustainable development of the local economy through an effective partnership.

As featured in the report, for the 2018-2019 period, Mong Duong 2 power plant continued to prove its key role in providing safe, affordable and reliable energy by exceeding the generation target, set by the Ministry of Industry and Trade, by 23 per cent. AES has been successful in maintaining world-class safety standards and our efforts have been recognised by The Royal Society for the Prevention of Accidents (RoSPA) with its Gold Medal Award for six consecutive years. A total of 37 social impact activities were implemented, making a long-lasting impact in local communities and directly benefiting more than 200,000 local people.

“We are delighted to publish our third Sustainability Report, communicating transparently our commitments to operating Mong Duong 2 safely, efficiently and sustainably, while, at the same time, accelerating the responsible development and transformation of the energy sector. In the last five years, with approximately 35 billion kWh generated, Mong Duong 2 has made significant contributions to national energy security and a reliable baseload, which serves as a concrete foundation for higher penetration of variable renewable energy sources,” said Mr David Stone, President of AES Việt Nam and Managing Director of AES Mong Duong.

The report also highlights the company’s "Investors in People” Silver award in 2019, which is a testament to the outstanding and transparent work environment we are building. Vietnamese team members now make up 95 per cent of all employees, while the diversity of the leadership team continues to expand with women holding 40 per cent of these positions.

A significant part of the report was dedicated to AES Mong Duong’s contribution to the Sustainable Development Goals framework (SDGs) developed by the United Nations. Through various partnership programs, local communities have continued to receive AES’ support, which is designed to match local needs identified through interactive consultations in meeting the challenges of poverty, inequality, and climate change.

“The report shows how we are working together with our partners, customers and stakeholders to deliver positive impacts on the lives of thousands of local people. With AES Mong Duong, AES has built a reputation as a trusted partner in the energy sector in Việt Nam together with our partners, fulfilling AES’ global mission of accelerating the future of energy around the world,” said Mr Stone.

The 2018 – 2019 Sustainability report outlines AES Mong Duong’s performance using the Global Reporting Initiative Standards (GRI Standards), the most widely-used sustainability reporting framework in the world. It also covers our compliance with other applicable standards, such as the IFC Environmental and Social Sustainability Framework, and the Equator Principles – a risk management framework adopted by financial institutions for determining, assessing and managing environmental and social risks related to energy plant construction and operations.

The PDF version of the report is available here (English version) and here (Vietnamese version).

About AES in Vietnam

Our vision is to be a leading sustainable power company in Vietnam that provides safe, reliable and affordable energy.

AES, through its subsidiary, AES Mong Duong Power Company Limited, has successfully developed and arranged to finance the Mong Duong 2 Power Project of 1,242 MW with a total investment of approximately US$2.1 billion. This is Việt Nam's first Build – Operate – Transfer coal-fired power project, representing approximately 2.3 per cent of the country’s installed capacity. To learn more, please visit https://aesmongduong.vn/

In November 2017, AES signed an MOU with PV Gas in the presence of US President Donald J. Trump and Vietnamese President Tran Dai Quang to develop the $1.3-billion Son My LNG Terminal Project. In November 2019, AES also signed an MOU with the Ministry of Industry and Trade to develop a 2.2GW combined cycle gas turbine (CCGT) power plant under the BOT scheme, which will be located in Binh Thuan Province. In October 2020, AES Vietnam and PV GAS inked a Term Sheet of the Joint Venture Agreement for Son My LNG terminal. Together, the CCGT and terminal are expected to play a major role in shaping Việt Nam's energy future by diversifying the energy mix with imported LNG and meeting the country’s increasing demand for sustainable and affordable electricity. For more information, visit: www.aes-vietnam.com

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we’re improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com

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