Sustainable development report
Roots take hold
dreams unfold
PRESIDENT AND CEO’S MESSAGE ON SUSTAINABLE DEVELOPMENT
PVFCCo’s President and CEO undertakes the highest responsibility for the Corporation’s environmental policies/issues.
2024 was a significant year for PVFCCo, marked by notable developments. Nonetheless, our commitment to sustainable development, social responsibility, and stakeholder prosperity remains unwavering.
Dear Valued Shareholders, Partners and Colleagues,
In 2024, PVFCCo's Management and employees reached consensus on a strategic direction for the next phase, positioning the Corporation as a global leader in the fertilizer and chemical sectors, while reinforcing our dominance in Vietnam and the region.
Aligned with this direction, we are committed to achieving growth objectives that support social sustainability, minimize environmental impacts, and contribute to the national “green growth” strategy. This commitment is grounded in the governance, environmental, and social (ESG) framework that PVFCCo has diligently developed over the past 20 years.
In late 2024, Typhoon Yagi, the most powerful to hit Vietnam in decades, severely impacted the agricultural sector and communities in Northern Vietnam. The typhoon resulted in hundreds of fatalities, thousands of injuries, and extensive damage to agricultural production. PVFCCo promptly launched support and reconstruction efforts, coordinating donation campaigns to assist affected communities in their recovery and return to normalcy. Driven by a tradition of mutual support and responsibility, PVFCCo is committed to partnering with the local community in the implementation of social security initiatives and programs.
The year 2024 was marked by significant global and domestic events, compelling countries, organizations, and enterprises to swiftly adapt and restructure their operations for greater efficiency. At the same time, they must respond promptly to emerging risks and fluctuations in the business and investment environment, alongside the accelerating global energy transition. Additionally, climate change and the increasing frequency of natural disasters threaten food and energy security, as well as the sustainable development and prosperity of nations and communities.
In 2024, PVFCCo marks its 18th year as a public company, a milestone that coincides with a pivotal phase of transformation. This year focuses on restructuring and consolidating resources in preparation for the Corporation's expansion into the chemical sector, with the objective of establishing PVFCCo as a leader in basic chemicals and green energy in Vietnam. The Corporation has initiated key actions to progressively achieve its goals. This sustainable development report outlines our commitments, policies, and results in aligning with Governance, Environment, and Society (ESG) criteria, while identifying areas for further development in the next phase.
In 2024, PVFCCo prioritized strengthening ESG practices, rebranding, updating business policies, and enhancing risk management to reinforce corporate governance.
In 2024, the Corporation refined its strategy to prioritize green development, implementing action plans to minimize emissions. Simultaneously, it advanced organizational restructuring and emphasized the development of high-quality human resources to drive transformation and global expansion.
As part of its restructuring, the Corporation has refined performance assessment reporting, adjusted salary scales, and updated compensation, benefits, and labor policies to align with the new business environment, resulting in positive outcomes. Moving forward, the Corporation will continue to assess and enhance its policies to address emerging needs.
2024 was a significant year for PVFCCo, marked by notable developments. Nonetheless, our commitment to sustainable development, social responsibility, and stakeholder prosperity remains unwavering.
The transformation will be implemented with flexibility to adapt to market fluctuations while remaining aligned with the Corporation's sustainable and green development goals. Its success hinges on the shared support, understanding, and trust of shareholders, partners, employees, and the community.
On behalf of PVFCCo's Management and employees, I sincerely thank all stakeholders. As we move forward, we remain committed to strengthening our partnership and value your insights, which drive our pursuit of shared prosperity and sustainable growth.
President and CEO
Phan Cong Thanh
OVERVIEW ON SUSTAINABLE DEVELOPMENT REPORT
PVFCCo synthesizes information and data from its actual operations for the period of 01 January 2024 to 31 December 2024, into its sustainable development report, accompanying the 2024 Annual Report.
The report highlights PVFCCo's production and sales of fertilizer and chemical products in Vietnam and its overseas markets. Activities of subsidiaries/affiliates as per PVFCCo’s ownership rates are presented in 2024 Annual Reports of those subsidiaries/affiliates. The disclosure is structured in compliance with Circular 96/2020/TT-BTC, incorporating VNSI sustainability criteria from the Ho Chi Minh City Stock Exchange and prevailing governance practices among leading listed companies.
- The Investor Relations (IR) team and the Legal & Compliance Division/Corporate Governance Officer: Serve as the focal points for report preparation, compliance monitoring of governance (G) regulations, and consolidating the content of the Sustainable Development Report.
- The Technical & Safety Division: Leads the Environmental (E) Report and oversees the planning, governance, and standardization of ESG reports and criteria for seamless integration into the Sustainable Development Report.
- Human Resource Management Division and Administration: Focal point for preparing Labor and Social Report (S).
- Reviewing and approving the report: Chairman and President and CEO.
We sincerely welcome your valuable input to ensure transparency and comprehensiveness in the report. Please feel free to send any contributions related to sustainable development issues to the following address:
IR Team - PetroVietnam Fertilizer and Chemicals Corporation
Address: 43 Mac Dinh Chi, Da Kao Ward, District 1, Ho Chi Minh City
Tel: 028. 3825 6258
Email: lienhe@pvfcco.com.vn
Information and content of PVFCCo's Sustainable Development Report are confirmed by third parties,o to be specific:
- Financial indicators according to PVFCCo's 2024 Financial Statements are audited by Deloitte Vietnam.
- Environmental monitoring reports at Phu My Fertilizer Plant are carried out by Environmental Monitoring Center of Ba Ria - Vung Tau Province. Environmental monitoring reports at PVFCCo's warehouses and office buildings are carried out by functional departments of provinces and cities.
- The HSE & Technology Division conducts the Energy Audit Report in strict compliance with state regulations, subject to review by the Ba Ria – Vung Tau Department of Industry and Trade. PVFCCo publishes these reports periodically on its official website.
- PVFCCo's adherence to sustainability criteria is independently assessed and recognized by esteemed institutions, including the Ho Chi Minh City Stock Exchange (HoSE) through the VNSI Sustainability Index, the Asia Business Association, Vietnam Economic Times, Saigon Economic Times, and Investment Review.
PVFCCo’s SUSTAINABLE VALUE CREATION MODEL
-
2003
-
2013Building and strengthening the foundation
-
2014
-
2023Diversifying operation fields - advancing momentum
-
2024
-
2035Transforming into a multisector leader, reaching global scale
Building and strengthening the foundation
- 2003 PetroVietnam Fertilizer and Chemicals Company was founded (predecessor of PetroVietnam Fertilizer and Chemicals Corporation - JSC)
- 2004 Phu My Fertilizer Plant was put into operation
- 2007 PVFCCo was transformed into a Joint Stock Company and listed DPM shares on HSX
- 2008 PVFCCo was turned into PetroVietnam Fertilizer and Chemicals Corporation - JSC
- 2010 Increasing the capacity of Phu My Fertilizer Plant from 740,000 to 800,000 tons per year
- 2011 PVFCCo Tower’s Head Office was inaugurated at 43 Mac Dinh Chi, District 1, Ho Chi Minh City
Diversifying operation fields - advancing momentum
- 2015 Operating UFC85 Factory and Petrochemical Factory, commencing a complex to increase capacity of NH3 Factory (+90,000 tons/year) and NPK Plant (250,000 tons/year).
- 2017 Phu My Fertilizer Plant reached the output of 10 million tons after 13 years of operation.
- 2018 NH3 Revamp - Phu My NPK Complex was put into operation.
-
2022
The year witnessed unprecedented milestones for PVFCCo in production output, revenue, profit, dividend and contribution to the state budget
- Phu My Fertilizer Plant achieved a record production of 917,000 tons, exceeding its designed capacity by 15%
- Total revenue reached a record high of VND 19,013 billion
- Profit before tax reached a record high of VND 6,606 billion
- The cash dividend payout ratio reached a record 70% of par value (VND 7,000 per share)
- Contributions to the state budget hit a record VND 1,614 billion
- 2023 Phu My Fertilizer Plant reached the output of 15 million tons (on 10 October 2023).
Transforming into a multisector leader, reaching global scale
Introduced the new brand identity “PHUMY - Sharing Prosperity”.
The new brand identity system, titled “PHUMY” reflects the core values and slogan “Sharing Prosperity”. PVFCCo positions the “PHUMY” brand as a diversified enterprise with a global vision, specializing in fertilizers and chemicals, while maintaining its industry leadership in Vietnam and the region. In the fertilizer sector, Phu My Fertilizer delivers comprehensive, high-quality nutritional solutions for the sustainable growth and benefits of farmers and agriculture. In the chemical sector, Phu My Chemicals offers high-quality, internationally certified products, fostering community development and environmental sustainability.
In 2024, PVFCCo introduced its new brand identity, “PHUMY”, signifying its transition into a diversified, globally oriented enterprise committed to delivering internationally certified fertilizers and chemicals while advancing community development and environmental sustainability.
PVFCCo aims to progressively transform into a diversified, globally minded enterprise, with a strategic focus on fertilizers and chemicals. The company strives to maintain its leading position in Vietnam and the region while advancing sustainable development, fulfilling social responsibilities, and sharing prosperity for all stakeholders”.
OUTSTANDING AWARDS ON SUSTAINABILITY IN 2024
APEA Awards 2024
This marks PVFCCo's first recognition with this prestigious award, organized by Enterprise Asia
TOP
500
Fortune Southeast Asia 500 - for the first time.
Fortune Southeast Asia 500
TOP
10
Top 10 Nơi làm việc tốt nhất Việt Nam 2024
Báo Đầu tư và Công ty Cổ phần Nghiên cứu kinh doanh Việt Nam bình chọn
TOP
10
Top 10 Ngành nông nghiệp công nghệ cao
Báo Đầu tư và Công ty Cổ phần Nghiên cứu kinh doanh Việt Nam bình chọn
TOP
500
Top 500 Nhà tuyển dụng hàng đầu Việt Nam 2024
Báo Đầu tư và Công ty Cổ phần Nghiên cứu kinh doanh Việt Nam bình chọn
TOP
10
Top 10 Thương hiệu mạnh, tăng trưởng xanh Việt Nam 2024
Tạp chí Kinh tế Việt Nam bình chọn.
“Doanh nghiệp vì cộng đồng” năm 2024
(Giải thưởng thường niên Saigon Times CSR do Tạp chí Thời báo kinh tế Sài Gòn bình chọn).
TOP
50
Top 50 Công ty kinh doanh hiệu quả nhất Việt Nam 2024
Bảng xếp hạng do tạp chí Nhịp cầu Đầu tư và hội đồng chuyên gia bình chọn.
Sustainable development orientation
Vision – fundamental mission
PVFCCo aims to establish itself as a multi-industry enterprise, retaining its leadership as Vietnam's foremost fertilizer manufacturer and distributor, while gradually expanding into the basic chemicals and petrochemical sectors, and meeting international standards in both industries.
PVFCCo's principles of sustainable development o
The Corporation maintains a balanced and optimized approach to concurrently achieving the following objectives:
- (1) Growing profitably.
- (2) Growing in harmony with social aspects; raising citizens' living standards and awareness, with a particular emphasis on agricultural regions, farmers, and rural areas.
- (3) Improving the living environment, ensuring long-term and sustainable development for current and future generations.
- (4) Ensuring that the results of development process are shared with stakeholders.
Stakeholder engagement
GREEN DEVELOPMENT STRATEGY AND ACTION PLAN
The corporation's development orientation for the next 10 years is to maintain its position as the No.1 fertilizer manufacturer in Vietnam and expand to producing and selling basic chemicals and petrochemical products with the goal of positioning PVFCCo as a pioneering chemical and green energy producer in Vietnam.
Over the next five years, PVFCCo will focus on expanding fertilizer and chemical production by optimizing existing facilities and projects, while integrating newly invested ventures in both sectors.
Solutions and implementation roadmap
PVFCCo has adopted green growth as a key development strategy, emphasizing that economic progress must integrate environmental protection and sustainable production. This strategy is underpinned by key principles and solutions, including:
- Transitioning to clean energy and optimizing resource use.
- Recycling waste and reducing carbon emissions towards achieving Net Zero by 2050.
- Responding to climate change and fostering green projects, biodiversity conservation, and social security.
plan to reduce greenhouse gas emissions by
0%
~ 17,514 tons of CO2 by 2030
Action plan
In accordance with this strategy, PVFCCo has developed an action plan consisting of eight green solution groups as follows:
ENVIRONMENTAL – SOCIAL – GOVERNANCE (ESG) REPORT
ESG MODEL AND ORGANIZATION
In 2024, the BOD consolidated and improved the organizational structure to implement Environmental - Social - Governance (ESG) activities. Accordingly, the BOD has appointed an independent member, who is holding the position of the Head of Science, Technology and Investment Committee, to be in charge of ESG. The Committee is responsible for advising the BOD on strategies and action plans associated with sustainable development goals and participating in implementing and supporting activities related to sustainable development in the Corporation. Directing, promulgating and implementing ESG policies are undertaken by President and CEO, Vice President in charge of internal affairs, safety technique and legal compliance together with the functional divisions and member units of the Corporation, by establishing a network of coordinators as ESG focal points to collaborate with the departments specialized in environment, society and governance”.
Professional governance, transparent information
PVFCCo was transformed from a 100% state-owned company into a joint stock company in 2007, operating in the model of parent company - subsidiaries.
Parent company and its subsidiaries are organized in the form of public joint stock companies, complying with the governance standards of a listed company. The current Board of Directors (BOD) of the Corporation has 5 members, including President and CEO and 01 independent member.
For business management
The Corporation’s system of regulation, policy, process and business model is required to be updated and completed to meet the market needs in the new context, enhancing efficiency of business management and minimizing risks. Business operation need to be planned in the alignment of medium and long-term product development strategy and regularly updated to suit the domestic and international market/developments.
For production
Phu My Fertilizer Plant has operated in more than 20 years; therefore, it is necessary to operate and maintain the plant in a focused and methodical manner through overall plans to improve maintenance and operation capacity, maintaining the Plant's performance and preventing arising risks. In addition, it is required to promote the coordination between production and business to maintain and improve capacity of NPK Complex Plant and chemical plants.
In addition to improving management efficiency in production and business, the BOD in this term continues to focus on restructuring Parent Company and its subsidiaries, improving and completing salary regime, employee policy, talent development and human resource enhancement to ensure high-quality manpower for the development in new stage.
Economic - environmental - social performance
Performance
Economic
In 2024, amid the general economic backdrop and challenges within the fertilizer market, PVFCCo diligently strived to accomplish its production and business targets for the year with some key targets as follows:
- Total production output of Phu My Urea, NPK and other fertilizers: 1.03 million tons
- Total sales volume of Phu My Urea, NPK and other fertilizers: 1.3 million tons
- Total revenue reached VND 13,878 billion, a decrease of 1% compared to 2023.
- Profit before taxes reached VND 669 billion, a decrease of 3% compared to 2023.
- Dividend payment in cash: VND 1,500/share.
To ensure optimal use and control of its resources, PVFCCo has invested in IT such as business support software, document management software and other innovative approaches. The Corporation also invested and built its own resources planning application software such as ERP, STOP, 5S, APC, System 1, RBI, KPI, etc.
Implementation results of digital transformation, risk management and sustainable development:
In 2024, the Corporation developed roadmap and plan for digital transformation in the period of 2023 - 2025, with a vision to 2030, and at the same time, making a plan to apply digital initiatives in conformity with PVFCCo's goals and resources, including the digital initiatives to support procurement, management, use, and optimal storage of raw materials, both meeting the needs of continuous and safe production of fertilizers and chemicals and improving production and business efficiency. In 2024, the Corporation also established Digital Transformation and Information Technology Division to be in charge of carrying out digital transformation and operating the information technology system in the Corporation.
Initiatives to improve and rationalize production and business, research and develop products and save energy:
The Corporation's Management is constantly concerned with and actively manages activities aimed at improving and rationalizing production and business. In 2024, the Corporation issued Regulations on science and technology management and Regulations on innovation and invention implementation. Accordingly, the regulations on management and bonus for research and innovation have been completed, encouraging employees to actively participate.
In 2024, a total of 33 initiatives were recognized for improving and rationalizing production and business operations (32 initiatives from Phu My Fertilizer Plant and 1 from the Corporation's Office). These improvements generated a value of VND 204 billion, with 106 production rationalization initiatives remaining unquantifiable. Additionally, the Corporation received 209 ideas (108 from the Plant and 29 from the Corporation's Office). Relevant ideas will be developed into initiatives to enhance production and business efficiency.
Scientific research activities in 2024 were conducted in accordance with the approved Science and Technology Plan. The Corporation undertook 12 research projects, including 5 assigned to the Safety Technical Division and Plant, and 7 to the Research & Application Center. Some of these projects align with the Vietnam Oil and Gas Group’s program, such as the “Research and Investment Opportunity Report for the Long Son H2SO4 Production Project” at the Long Son Petrochemical Complex (LSP) under PVN.
In 2024, the Corporation continued to focus on product research and development, new investment projects, and energy-saving initiatives as follows:
The Corporation advanced the development of new fertilizers to meet market demand, with an emphasis on diversifying products derived from Urea and NPK. It also prioritized the research and pilot testing of imported organic fertilizers, aiming to distribute approximately 15,000 tons in collaboration with large corporations by 2025. Additionally, the Corporation partnered with subsidiaries nationwide to explore other agricultural products, including biological products, pesticides, and water-retaining gels, while conducting research, application testing, and trials for potential fertilizers to expand the domestic market.
Chemical projects: The Corporation collaborated with PVN on strategic projects to enhance the downstream value chain, such as preparing an investment opportunity report for the Long Son Petroleum Industrial Park, which includes six component projects: H2O2, H2SO4, MeOH, NaOH/PVC, ABS, and Green NH3 (GNH3). It also explored alternative raw materials and gas fuel for the Phu My Fertilizer Plant due to the decreasing availability of natural gas, rising gas prices, and the Government’s prioritization of gas for power generation.
The Corporation sought investment opportunities in new product development to optimize capital and expand operational capacity, including the H2O2 project, off-gas recovery, Melamine and AdBlue.
Energy-saving initiatives focused on researching, evaluating, and applying solutions to reduce energy consumption, lower production costs, and minimize CO2 emissions, thereby improving plant efficiency.
Environmental
performance
To ensure production efficiency and sustainable development within the chemical fertilizer sector, Health, Safety, and Environment (HSE) remains a core priority for the Corporation.
HSE system according to international standards and implementation mechanism
PVFCCo has issued HSE and Energy Policy with a strong commitment to ensuring safety for human and assets, environmental protection and climate change limit; ensuring product quality as registered; using energy efficiently in production and business; increasingly improving to enhance product quality and productivity.
At present, the Corporation still maintains and improves HSE system and quality control in accordance with the international standards ISO 9001:2015, ISO 45001:2018 and ISO 14001:2015. PVFCCo’s HSE system is annually audited and re-certified every 3 years by Det Norske Veritas (DNV). This is a message of the Corporation on its concern and compliance with regulations on occupational health and safety, community responsibility, and environmental protection towards the goals of increasingly enhancing product quality of the Corporation.
Report on Safety - Fire Prevention & Fighting - Emergency Response in 2024
Occupational accidents/technology and equipment failures
In 2024, all production and business activities of the Corporation took place in safety without any occupational accidents at any work.
There were 13 technology/equipment incidents at Phu My Fertilizer Plant in 2024. However, all incidents have been investigated for direct causes and root causes according to Accident investigation and reporting guidelines of the Corporation. Preventive and corrective actions for each incident have been also implemented, monitored, completed, reported and recorded sufficiently.
All units submit their grassroots occupational accident reports to the local Departments of Labor, War Invalids and Social Affairs in accordance with regulations.
Fire Prevention & Fighting - Emergency Response
In 2024, the Corporation has consolidated the Steering Committee for Emergency Response and Assistant Team for the Steering Committee for Emergency Response of the Corporation.
In September 2024, the Corporation held a conference to summarize 5 years of implementing the regulations on coordinating to ensure Security and Order, Safety - Fire Prevention & Fighting between the Police of Ba Ria - Vung Tau and PVFCCo and to reward collectives and individuals with achievements in implementing the Coordination Regulations.
The Corporation continued to repair Fire Prevention & Fighting system of the buildings at 43 Mac Dinh Chi and 27 Dinh Bo Linh. Phu My Fertilizer Plant repaired underground fire water pipeline of 10,000-ton finished goods warehouse. The work has been reported to the Police of Ba Ria – Vung Tau as regulated.
All units in the Corporation have maintained and checked fire prevention and rescue equipment in accordance with regulations, instructions and standards and always ensured that they are ready for operation. All equipment is monthly checked, recorded into minutes and filed in fire prevention & fighting dossiers.
All projects of the Corporation are subject to mandatory fire and explosion insurance according to the applicable regulations.
In 2024, the Corporation conducted 16 fire drills and chemical incident response at the buildings, the technological zones of the Plants and all the warehouses and ports of the Corporation in accordance with the law. The chemical incident response plan for the works arising during the production process of Phu My Fertilizer Plant has been appraised by the Ministry of Industry and Trade. The oil spill response plan for the An Giang inland waterway port have been approved by the competent authority.
The units have developed 2024 OHS plan, implemented 2024 OHS action month, and summarized 2023 group-level OHS & fire prevention awards.
Deploying and reporting the results of activities in response to National Week for Natural Disaster Prevention and Control; issuing directives to strengthen security, safety and fire prevention during holidays; and strengthening response during 2024 stormy season.
In 2024, the Corporation fully reported on fire prevention & fighting and emergency response to PVN and the competent authorities in accordance with regulations.
Technology safety and equipment inspection
In 2024, the Corporation completed the registration and inspection for 1,853 devices with strict safety requirements in accordance with legal regulations.
Maintaining technology safety assurance such as applying technology safety system at the plant, for examples, RBI, SYSTEM 1, PSM, etc. to prevent technology and equipment incidents.
STOP (Safety Training Observation Program) continues to be effective at Phu My Fertilizer Plant. In 2024, the number of unsafe STOP cards accounted for a high proportion (69.8%) while the number of safe STOP cards accounted for a small proportion (30.2%). All STOP cards were investigated for causes to propose corrective actions and make statistics for monitoring and prevention.
Expenses for Safety - Fire Prevention & Fighting - Emergency Response:
Total expenses for Safety - Fire Prevention & Fighting - Emergency Response in 2024 was VND 46.17 billion.
Health care and occupational hygiene
Periodic health check-ups and occupational diseases
In 2024, all units conducted periodic health check-ups for all employees according to regulations, in which 1,507/1,550 employees participated in health examination (accounting for 97%). The health examination results of employees were classified and the employees were provided with disease consultation by the doctors of the units.
Occupational diseases: As of 31 December 2024, the number of cases affected with occupational deafness was 27 people (one person less than in 2023 because he was re-examined and concluded not to have occupational deafness).
In 2024, Phu My Fertilizer Plant has 20 cases submitted to Medical Assessment Council for occupational deafness examination. At present, the Plant is coordinating with the Medical Assessment Center of Ba Ria-Vung Tau Province for examination, expected to be completed by March 2025. All cases of occupational deafness at the Plant have been recorded and shifted to the working areas with noise level below 85 dBA, less time exposed to noise and regular examination to ensure no recurrence or severe progression.
First aid and health insurance
The Corporate’s Head Office is equipped with Medical Room. Phu My Fertilizer Plant is also equipped with a medical station with many hospital beds, ambulances and other medical equipment. Ports and warehouses are also provided with first aid cabinets.
The Corporate’s Head Office and Phu My Fertilizer Plant have specialized doctors and medical staff to provide first aid and medical advice to employees as necessary.
100% of the Corporation's employees have health management records. Every 6 months, the units send occupational health report to the local authorities.
The Corporation continues medical and personal accident insurance (PVI Care) for all employees and supports PVI care for their family members.
Labor Hygiene – Personal Protective Equipment (PPE)
In 2024, all units developed and approved their OHS Plan to implement and report. Particularly at Phu My Fertilizer Plant, OHS report is quarterly reported to OHS Council.
In 2024, all units completed labor environment monitoring report and submitted to the local Departments of Health in accordance with legal regulations.
Personal Protective Equipment (PPE): 100% of plant workers, the staff who regularly work at the plant and employees at the units are fully equipped with PPE according to regulations.
In 2024, the number of workers working in hazardous environment at Phu My Fertilizer Plant were 724 people. 100% of employees enjoyed monthly allowances for hazardous work in accordance with the law (including fresh milk, condensed milk and fruit juice).
At the offices of the Corporation and Phu My Fertilizer Plant, 5S Program is applied to keep a clean and safe working environment.
In 2024, the Plant collaborated with the Ho Chi Minh City Nutrition Research Institute (NRI) and the Southern Branch of the National Institute of Occupational Safety and Health (SNIOSH) to host a “Seminar on health consultation and the prevention and control of occupational deafness”.
Total expenses for Health Care - Labor Hygiene in 2024 was: VND 29.172 billion
Environmental activities
In 2024, environmental management was performed well, complying with legal requirements. There was no violating the law and environmental pollution incident.
There were 4 environmental inspections in 2024. The inspection results show that the environmental acts at the Plant have been effectively implemented in compliance with legal regulations. To be specific:
Application for Environmental License and Environmental Registration
Already submitted application for Environmental License for Long An and Tien Giang warehouses.
Coordinating with the Corporation’s Head Office to complete application for Environmental License for Building 27 Dinh Bo Linh.
Phu My Fertilizer Plant is conducting procedures to hire consulting services to apply for Environmental License for housing area in Phu My Fertilizer Plant.
Already completed environmental registration for Phu My Fertilizer Apartment, acid tank project and Binh Phuoc warehouse.
Greenhouse gas inventory
Completing 2022, 2023 greenhouse gas inventory and developing greenhouse gas emission reduction plan for the 2026 – 2030 and 2030-2050 period. Greenhouse gas inventory report is posted on the Corporation's website: www.dpm.vn
Providing 2023 greenhouse gas inventory to PVN.
The Plant is preparing the 2024 Greenhouse Gas (GHG) Inventory Report for submission to the People's Committee of Ba Ria-Vung Tau Province by 31 March 2025. Upon review, the finalized report will be submitted to the Ministry of Industry and Trade and the Ministry of Natural Resources and Environment by 31 March 2025, in compliance with regulations.
Sustainable development
As the focal point for ESG implementation across the Corporation, the HSE Division implemented the following activities in 2024:
- Entering survey data and collecting data to implement PVN's scientific researches such as “Researching and proposing management policy and techniques to enable PVN and units to be ready for participating in domestic and international carbon market”, and surveying information on tree planting program.
- Preparing for carbon management according to the regulations.
- Making reports to PVN on greenhouse gas such as: Synthesizing the implementation of climate change and greenhouse gas emission reduction; Requesting reports on the implementation and the plan for Carbon capture and storage (CCS) to reduce emission.
- Attending training courses and workshops on: ESG overview and issues for PVN and its member units; the 2nd Workshop “Practice carbon market simulation tool”; Workshop “Low-carbon energy and technology development – opportunities and challenges”; “Carbon footprint calculation method for PVN and its member units”; Adaptation to climate change, greenhouse gas reduction of Vietnam Oil and Gas Group and its member units; MRV guidelines for greenhouse gas reduction and greenhouse gas inventory in industry and trade sector.
- Attending Training/Workshop: carbon footprint calculation methodology, carbon market
- Reporting to PVN on the implementation of Circular 42/2020/TT-BCT on importing data into Environmental Database of industry and trade sector.
- Organizing activities in response to: World Wetlands Day 2024, World Water Day, World Meteorological Day, and Earth Hour Day 2024.
Giving opinions on environmental legal documents
Giving guidance on investigation, assessment and compensation for damages caused by environmental incidents arising from oil and gas activities; making summary report on the implementation of the Law on Marine and Island Resources and Environment 2015, Decree of amending and supplementing Decree No. 06/2022/ND-CP, Decree of amending and supplementing Decree No. 08/2022/ND-CP, and Draft regulations on industrial emissions and wastewater.
Recycling packages and managing solid waste, gas emissions and wastewater
- Already recycled packaging of fertilizer products and declared on the National EPR (Extended Producer Responsibility) Portal.
- Handling waste including solid waste, gas emission and wastewater in accordance with legal regulations: Solid waste is classified at source and collected into hazardous bins (orange), industrial bins (black) and household bins (green). The bins are placed at production sites, offices and workshops where waste is generated and are periodically gathered to the hazardous waste storage area.
- Emissions at Phu My Fertilizer Plant are periodically monitored according to the approved environmental impact assessment report. At Phu My Fertilizer Plant, an automatic continuous emission monitoring system has been installed, according to Decree No. 08/2022/ND-CP, for 02 chimneys i.e. 20-SK-2201 of UFC85 production process and 70-SK-2001 of NPK Plant, and officially transmitted data to the Department of Natural Resources and Environment of Ba Ria - Vung Tau Province.
- Domestic wastewater and industrial wastewater are monitored according to the approved environmental impact assessment report. Phu My Fertilizer Plant has 01 automatic continuous cooling river water monitoring system and has transmitted data to the Department of Natural Resources and Environment of Ba Ria-Vung Tau Province since February 2021.
2024 environment-related figures:
Costs for environmental activities in 2024 about VND 12.049 billion
Energy management and climate change mitigation
- Auditing every 3 years according to Circular No. 25/2020/TT-BCT dated 29 September 2020, PVFCCo has hired a functional unit to conduct energy audit for Phu My Fertilizer Plant - the major energy-using facility. The latest energy audit was conducted at the end of 2022.
- Issuing the Corporation’s energy management goal and plan for 2024.
- Reported to PVN on the updated list of energy-using facilities for 2024, as well as the implementation results for 2024 and the planned tasks for 2025 under the national energy efficiency program for the 2019 - 2030 period.
- Funding to organize seminars for Vietnam Energy Association.
- Giving opinion on the proposal to amend and supplement the Law on Economical and Efficient Use of Energy.
- Building energy saving items according to the proposal of Research and Application Center (installing condensate separator for 10E5053 and returning MP gas flow to 10H2001).
- Promoting power saving according to Directive No. 20/CT-TTg dated 8 June 2023 of the Prime Minister.
- Total energy saved at Phu My Fertilizer Plant in 2024 was 1,150,000 MMBTU (reaching 336% of the 2024 plan of 342,000 MMBTU).
HSE inspection and training
In 2024, HSE inspection was planned and fully implemented in accordance with the Corporation's procedures. In particular, PVFCCo conducted 35 Level-IV (the Corporation level) safety inspections. Recommendations from the inspections were recorded and resolved on schedule.
At the production facilities, Phu My Fertilizer Plant has also inspected fire protection equipment, portable fire extinguishers, fire water system, automatic fire alarm, and fire trucks.
In addition, the Corporation’s Head Office and Phu My Fertilizer Plant has 01 HSE internal audit and 01 HSE external audit conducted by DNV.
HSE training including the training on labor hygiene, chemical safety, radiant safety and advanced professional training is carried out as regulated and planned.
HSE assessment in 2024
- In 2024, there were no labor accidents or incidents related to fire exposure or environment at all the Corporation’s facilities.
- 100% of HSE plan in 2024 was completed on schedule.
- There were no violations against the law on fire fighting and environment. All inspections by the authorities shows that the Corporation fully complies with the law.
- Implementing the duties of PVN and the authorities relating to climate change and emission reduction. Building a strategy to reduce emissions at the Corporation and completing gas emission inventory report at Phu My Fertilizer Plant.
- Managing waste according to the legal regulations. All environment indicators meet Vietnamese standards.
- Continuing to complete HSE report software to put into use to enhance HSE performance.
Main tasks of the safety, health and environment work in 2025
Safety, fire control, emergency response
- Ensuring compliance all legal regulations on HSE - Fire Prevention & Fighting - Emergency Response in production and business.
- Completing in a safe and prompt manner the TPM plan at Phu My Fertilizer Plant.
- Preventing any incidents causing harm to people or property, and avoiding serious workplace accidents at all the Corporation's sites.
- Effectively applying equipment maintenance program, PSM technology safety management system, and HSE system at Phu My Fertilizer Plant to reduce the number of incidents and downtime due to incidents.
- Coordinating to develop requirements on HSE - Fire Prevention & Fighting - Emergency Response in new projects of the Corporation to ensure compliance with legal requirements.
Environmental acts
- Ensuring compliance with the legal regulations on environment in production and business.
- Ensuring no environmental incidents or violations, especially in TPM at Phu My Fertilizer Plant in 2025.
- Implementing directions of the Management in developing and applying ESG criteria throughout the Corporation.
- Completing “Greenhouse gas response and reduction strategy to 2030, 2023 and vision to 2050”.
- Implementing greenhouse gas emissions mitigation plan at Phu My Fertilizer Plant.
- Handling waste at all Corporation's projects in accordance with legal regulations.
- Periodically inspecting HSE performance in accordance with the legal regulations, the Corporation and its member units.
- Continuing to coordinate with the units to collect data to prepare for recycling plastic fertilizer packaging.
- Ensuring to comply with the legal regulations on environment at investment projects.
Health Labor Hygiene
- Organizing annual health check for employees in accordance with regulations and taking care of health at work.
- Annually monitoring working environments and having occupational disease examination as a basis for improving working conditions, preventing occupational accidents and diseases for employees in the entire Corporation.
- Fully implementing regulations on allowances for employees working in hazardous and toxic conditions.
- Ensuring food safety and hygiene in canteens.
Maintenance and improvement of the HSE management system
- Setting up 2025 HSE targets at the Corporation and its member units. Monitoring and making periodic reports according to the process.
- Implementing HSE requirements. Monitoring, inspecting and evaluating internally to ensure compliance.
- Monitoring corrective and preventive actions and improving the System to ensure compliance with legal regulations and new developments.
Other activities
- Purchasing mandatory fire and explosion insurance and environmental liability insurance for Phu My Fertilizer Plant and all the Corporation's projects in accordance with the provisions of law.
- Organizing training courses on group safety and radiation safety in accordance with legal regulations. Organizing advanced HSE training and seminars for specialists at units.
- Maintaining STOP and 5S programs at Phu My Fertilizer Plant and 5S at the Corporation's offices.
- Coordinating with Youth Union and Trade Union in OSH network to organize activities to raise awareness and compliance with rules and regulations on HSE for all employees such as OSH Week, Fire Prevention Day, Earth Hour, World Environment Day.
Social
performance
Human resources information
Total employees of the entire Corporation in 2024
0%
employees
0%
male employees
0%
female employees
The average age of employees of the Corporation is 43 years
Working environment and corporate culture
The Corporation has renovated offices at the Corporation’s Head Office and at the divisions to create a fresh working space and facilitate coordination among divisions. At the same time, the Corporation has arranged more trees in the working areas and encouraged employees to plant at least 10 trees each year in the 2022 - 2025 period at the office, at home and in localities if possible, contributing to creating a green and clean landscape, increasing quality of ecosystem at the projects, plants and offices of PVFCCo.
Corporate culture communication: To innovate form of corporate culture communication, the Corporation has applied visual and vivid propaganda with many different contents and forms such as standee, wooden board and television to attract viewers and create a modern working space. In addition, the Corporation has promoted communication on digital platforms such as Website, Facebook, YouTube, and Zalo OA. The Corporation has also created software to survey and evaluate the implementation of corporate culture and get feedback from employees.
Insurance policy and other policies for employees and relatives
Annually, PVFCCo conducts health check-ups for employees in hazardous work environments to detect occupational diseases early. Additionally, medical examinations and social insurance are provided for affected employees.
Health Care - Disease prevention
Healthcare and disease prevention measures at the Corporation remained robust in 2024, with all units conducting regular health check-ups for employees as mandated by law and the collective labor agreement.
- Employees requiring ongoing health monitoring received thorough guidance and support from the Corporation's medical officers.
- In addition, Phu My Fertilizer Plant has done screening of occupational diseases for employees to detect early and arrange for suitable outcomes. The cumulative number of employees with occupational diseases by 2024 was 35 people, of which the employees newly affected with occupational deafness were 7 people.
- Issuing Instructions on health care for employees such as Instructions for checking food safety and hygiene at canteen of the Corporation's Office; Instructions on first aid and medicine use at the Corporation's Office; Guidance on Occupational Hygiene and Employee Health management at the Corporation's Office.
- Purchasing Health Insurance (PVI Care) for all employees of the Corporation.
- Performing first aid and medicine to employees in case of occupational accidents.
- Regularly updating and implementing pandemic prevention measures (seasonal flu, monkeypox and other diseases) in accordance with the regulations, recommendations and instructions of the Vietnamese Government, the Ministry of Health, and other State agencies.
- The cost for healthcare and pandemic prevention in 2024 is estimated at about VND 10 billion (including periodic health check, occupational disease examination, procurement of medical supplies, propagandizing, training, etc.).
-
PVFCCo will continue to promote Health Care - Disease Prevention, to be specific:
- Updating and notifying the situation of diseases to have appropriate response and prevention plans.
- Annually monitoring working environments and having occupational disease examination as a basis for improving working conditions, preventing occupational accidents and diseases for employees in the entire Corporation.
- Organizing annual health check for employees in accordance with regulations and taking care of health at work.
Talent development
In 2024, the Corporation promoted training activities, organizing 143 training courses for 8,140 attendants, reaching 123.4% of the year plan, with a total training budget of VND 10.7 billion (reaching 102% of the year plan).
organized
0%
training courses for 8,140 attendants
Fair employee policy
The Corporation has implemented an employee policy effective since 1 January 2009, annually adjusted to reflect current circumstances. It includes welfare provisions for all staff and additional benefits for high-performing employees with managerial and professional expertise, covering aspects such as salary, bonuses, training, education, leave, accommodation, and other welfare benefits.
Additionally, the Corporation has issued democratic regulations and established a Labor Union organization to protect workers' legitimate rights and interests. Regular dialogues, held every 3 to 6 months at the grassroots level, involve proactive collaboration between labor unions and authorities to ensure effective and compliant discussions through flexible formats. Topics include policies, welfare, income, employment, restructuring efforts, grassroots democracy regulations, and other worker-related concerns.
Gender equality & empowerment of women
Since the beginning, PVFCCo has always paid attention to gender equality and created equal development opportunities for female staff. At PVFCCo, the activities of Women's Union for the empowerment of women have always received attention from leaders of the Party, Government and Unions to facilitate women to best promote their roles and abilities in all aspects and successfully complete assigned tasks. PVFCCo’s female staff are conscious to develop in their work and are enthusiastic and energetic in movement activities.
Customer and partner relations
In its production and business endeavors, PVFCCo consistently emphasizes upholding credibility, quality, and continually enhancing the value of its products and services for customers and partners:
- Good product quality is always the top priority of PVFCCo in its production and business. Phu My fertilizers and chemicals and other self-traded products that the Corporation provides to customers always ensure quality according to registered standards. During the past years, Phu My Urea and Phu My NPK products have been trusted by farmers nationwide and voted as National Brands.
- To help farmers optimize the ratio of fertilizer usage and crop yield, PVFCCo partners with local authorities and scientists to organize cultivation technique workshops at experimental gardens and sample fields to train farmers.
- PVFCCo maintains its warehouse and logistics management systems well nationwide, so that their products are delivered to farmers on time at reasonable prices.
- PVFCCo maintains a product quality management system in accordance with the international standard ISO 9001:2015 to ensure that the product's quality remains consistent with its claims.
- The Corporation has established a protocol for receiving and addressing feedback from product users. Additionally, it conducts regular evaluations of customer satisfaction regarding product quality and services to continually enhance quality standards. Safety advisories for product users are also implemented.
- The Corporation has a hotline with contact address on the website to promptly receive and handle customer feedback.
Social responsibilities
Social welfare work stands as a cultural hallmark of PVFCCo. Despite enduring economic challenges due to prolonged global political and economic fluctuations, PVFCCo remains steadfast in its commitment to community responsibility, actively engaging in meaningful and practical social welfare work initiatives.
Committed to supporting the agricultural and rural sectors, the Corporation established the Social Welfare Council to oversee and implement social programs through the Social Security Group (SSG). Additionally, the Corporation organized various initiatives to promote a culture of mutual support and community service among employees, including the following:
- Typical communication initiative programs on social activities within the Corporation.
- Participating in events to raise community awareness and programs to contribute to environmental protection such as Earth Hour and World Environment Day.
- Encouraging employees to participate in practical activities with the community and contributing to environmental protection.
- Programs to promote energy and resource saving practices such as 5S initiative and waste/battery collection at PVFCCo headquarters.
- Encouraging employees to do physical exercises and sports during working hours to limit occupational diseases; organizing marathon, table tennis, football and other sport competitions attracting a lot of employees.
- Prioritizing online training/meeting to save time and cost for travelling and training costs.
Corporate Social Responsibility Report in 2024
PVFCCo continues to uphold its cultural traditions while striving to meet production and business goals. In addition to these efforts, the Corporation remains committed to social responsibility through numerous meaningful programs.
- Humanitarian relief - Support to farmers
- Education
- Healthcare
- Great Unity houses
PVFCCo's social responsibility activities are implemented through Social Security Council, closely connected with member units, partners and local social organizations, ensuring compliance with the following principles:
- Supporting in the right place at the right time;
- Supporting exactly necessary things;
- Supporting directly to beneficiary units and individuals;
- Supporting is not for advertising or branding purposes, but comes from the needs of the community in a sense of responsibility;
- The activities are implemented with connection, resonance and spread in the community.
Social security budget in 2024 by areas:
- Great Unity houses: VND 10 billion.
- Education: VND28,5 billion.
- Healthcare: VND3 billion.
- Disaster and humanitarian relief, and gratitude: VND 13 billion.
- Tet for the poor in the year of the Dragon: VND 8,6 billion.
- Self-implemented by the Corporation: VND 6,25 billion.