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Banking & Finance

PNJ wins Asia's Best Report on SDGs award

Released at: 10:45, 12/02/2018 BUSINESS SPOTLIGHT

PNJ wins Asia's Best Report on SDGs award

Photo: PNJ

Jeweler picks up award at Asia Sustainability Reporting Awards.

by Hai Van

The Phu Nhuan Jewelry JSC (PNJ) has received an award for having the Best Report on the Sustainable Development Goals (SDGs) in Asia.

It surpassed nearly 450 enterprises from 16 Asian countries to win Asia’s Best Report on the SDGs at the Asia Sustainability Reporting Awards (ASRA) held recently in Singapore.

PNJ has developed a roadmap linking the SDGs to its long-term development strategy, ensuring that the key criteria are effective growth, financial strength, enhanced competitiveness, and creating value for social and environmental contributions.

The award is recognition of PNJ’s commitment to and implementation of sustainable development issues and affirms its position as the leading jewelry company in Vietnam and the region.

This year awards were presented in 17 categories, including Asia’s Best Sustainability Report, Asia’s Best Integrated Report, Asia’s Best Sustainability Report (SME), Asia’s Best First Time Sustainability Report, and Asia’s Report of the Year.

Asia’s Best Report on the SDGs was a new category. PNJ, which took part in ASRA for the first time and in nine categories, was praised by the jury for being in the top eight in many categories.

“The quality of sustainability reporting is an important measure of the ability to create, protect, and sustain long-term value for shareholders and stakeholders,” said Mr. Rajesh Chhabara, CSRWorks International’s CEO and creator of the awards, “The award PNJ won at ASRA 2017 demonstrates the company’s leadership in reporting sustainability and a keen sense of responsible business commitment.”

Receiving Asia’s Best Report on the SDGs is especially important for PNJ as it marks its 30th anniversary and is in recognition of its sustainable development philosophy.

“Sustainable development is a long-term strategic direction PNJ takes towards prosperity in all of society, said Mr. Le Tri Thong, Vice Chairman of PNJ. “It is a great honor that PNJ’s efforts to spread sustainable values to the community and promote sustainable business is reflected in the Sustainable Development Report 2017 and recognized by the International Assessment Council Asia’s Best Report on SDGs.”

PNJ’s combined pre-tax profit in 2017 was VND908.11 billion ($40 million), up 54 per cent against 2016 and 121 per cent of the target. Total revenue was VND11.04 trillion ($488.64 million), up 28 per cent year-on-year. Retail sales reached nearly VND5.78 trillion ($254.6 million), up 39 per cent.

ASRA is considered one of the most prestigious awards in Asia and was held for the first time in 2015. With a rigorous appraisal process, using the rating criteria in the Report Code of Conduct Global Reporting Initiatives (GRI4), ASRA honors leadership in reporting, facilitates responsible business operations, and releases Asia Regional Sustainable Development Information.

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