Corporation’s message
Dear valued shareholders and partners,
This marks the second consecutive year that PVFCCo has published an independent Sustainability Report in accordance with the GRI Standards, reaffirming its increasingly strong commitment to transparency and its responsiveness to the rising expectations of investors, business partners, and other stakeholders.
In this independently issued report, PVFCCo continues to enhance its transparency framework and strengthen data integration, enabling readers to benchmark the Corporation’s performance against internationally recognized industry-specific standards while addressing the growing regulatory expectations surrounding ESG disclosures. In addition to reporting in accordance with the GRI Standards 2021, the 2025 indepedent Sustainability Report references the SASB Chemicals Standard for the first time and has been developed with consideration of the disclosure requirements set out in IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures).
Under the theme “Strengthening Governance Foundations – Enabling Green Growth”, the 2025 independent Sustainability Report continues to reflect PVFCCo’s consistent commitment to sustainable growth, where economic objectives are pursued in parallel with environmental stewardship and the equitable sharing of value among stakeholders. Throughout its more than 20-year development journey, this philosophy has evolved beyond a strategic orientation to become a core cultural asset and a solid foundation for the Corporation’s next phase of growth. Guided by this approach, PVFCCo is well positioned to advance toward a new stage of development, with the aspiration of creating shared prosperity while contributing more actively to ecosystem stability and social equity, in line with its enduring commitment to “Sharing Prosperity.”
2025 – A Year of ESG Milestones
Against this trend, 2025 marked a crucial milestone as PVFCCo proactively adapted, reshaping its operational system and sustainable development strategy. This transformation established sustainable pillars and growth drivers for the next five-year period (2026–2030), aiming for compounded revenue and profit growth.
Regarding the environment, PVFCCo issued its Climate Response and Greenhouse Gas Emissions Reduction Strategy for the 2026–2030 period, with a vision toward 2050, setting out commitments and action plans for emissions reduction and green transformation through a clearly defined roadmap. Emissions reduction targets are closely linked to key initiatives, including improving energy efficiency, transitioning to renewable energy sources, optimizing production processes, and developing greener products, all supporting the Corporation’s pathway toward achieving Net Zero emissions by 2050.
Regarding social performance, PVFCCo continued to maintain a safe working environment with no serious occupational accidents, while further promoting employee training and workforce development. At the same time, the Corporation implemented a range of social welfare programs that generated tangible impacts for local communities–particularly in the field of education–as well as for farmers.
Regarding governance, in 2025, PVFCCo established its ESG Project Team, finalized and issued its Sustainable Development Strategic Direction integrated with the Corporation’s business strategy for the 2026–2030 period, with a vision toward 2050, and developed sustainability projects and initiatives aligned with KPI groups under the Environmental, Social, and Governance (E-S-G) pillars. The Corporation also officially issued its Enterprise Risk Management Framework and further strengthened its organizational structure in line with modern governance practices. The ERP system was fully integrated, providing a digital foundation for all financial management and operational processes. Notably, the successful completion of the charter capital increase established a solid financial foundation for the implementation of strategic investment projects in the coming years. 2025 also marked the first year that PVFCCo prepared and published an independent Sustainability Report (for the 2024 reporting year) in accordance with the internationally recognized GRI Standards, enhancing the transparency of the Corporation’s performance across environmental, social, and governance dimensions.
Strategic Orientation 2026–2030 – Compounded Growth on a Green Foundation
Looking ahead, PVFCCo has identified sustainable growth for the 2026–2030 period as being driven by two parallel pillars: reinforcing its position as Vietnam’s leading fertilizer producer while accelerating its expansion into the green chemical and petrochemical value chain. This includes the development of strategic products such as green ammonia (NH3), green hydrogen (H2), and carbon black produced through cleaner technologies that support emissions reduction and CO2 circularity. In line with this direction, the Corporation aims to place greater emphasis in 2026 on the adoption of automation, artificial intelligence (AI), and specialized software solutions across management and business operations, with the objective of enhancing productivity, quality, and operational consistency.
With a dedicated workforce, a consistent strategic vision, and a strong governance foundation, we are confident that PVFCCo will continue to receive the support and partnership of our valued stakeholders as we advance our journey of Enabling Green Growth. We firmly believe that this journey will continue to create and share sustainable value for all stakeholders, living up to the trust and expectations that you have placed in PVFCCo – Phu My, both now and in the years to come.
Sincerely,
On behalf of PVFCCo’s Management