In line with the global trend of green growth, Vietnam is promoting green transformation in agriculture; including reducing emissions, and contributing to the implementation of Vietnam's commitments in response to global climate change.
As one of the leading corporations in the Agri-Food sector in Vietnam, with 20 years of operation and experience, Mavin Group is actively participating in the green transformation process through efforts to build a modern and environmentally friendly business model. Mavin has implemented specific strategies and actions to minimize negative environmental impacts throughout the production and supply chain, aiming to become a net zero-emissions enterprise by 2050, matching the government’s commitment.
In that spirit, on 31 July, 2024, in Hanoi, Mavin Group and HSBC Vietnam signed a "Sustainability Linked Loan Agreement." The financing agreement also represents a significant milestone in Mavin Group's sustainable development journey.
"Sustainability Linked Loan Agreement" marking an important milestone in Mavin's sustainable development journey.
To successfully qualify for this loan, Mavin not only achieved positive business results but also underwent HSBC's sustainable credit management and approval process, which included a review and assessment by KPMG. Additionally, Mavin established specific goals within its green and sustainable development strategy.
Specifically, Mavin underwent a review process of Key Performance Indicators (KPIs) for sustainable development conducted by KPMG. According to KPMG's review and assessment, Mavin Group has achieved its sustainable development goals, including reducing energy consumption, minimizing waste, and ensuring a safe and hygienic working environment for its employees.
This sustainability-linked loan from HSBC will support Mavin’s working capital in the payments for their suppliers, supporting their sustainable operation, then continuing to improve the core sustainability indicators compared to its 2023 targets, further reinforcing its strong commitment to sustainable development in the future.
Mr. David John Whitehead, Chairman of Mavin Group, shared: “Sustainable development is no longer just about being 'green'; it is about integrating sustainable practices into every aspect of the company's operations and characteristics. This shift reflects a growing awareness that sustainability is not only an environmental issue but also a business imperative related to profit, brand reputation, and long-term success. Over the past 20 years in Vietnam, Mavin Group has remained steadfast in its goal of sustainable production and business, ensuring that business interests align with environmental and social benefits.”
According to the Chairman of Mavin, the commitment to sustainable development has the unanimous support of Mavin's employees and is emphasized in the Group's long-term strategic development strategy. This commitment is reflected in Mavin's specific actions throughout the production and supply chain, such as sustainable waste management, efficient use of energy and resources, and continuous monitoring and improvement of business operations. In its green and sustainable development roadmap, Mavin has become the first company in the industry to issue a separate Sustainability Development Report in 2024, aimed not only at enhancing business efficiency, but also at creating a happy working environment for employees and spreading positive values to the community. Currently, Mavin is also a leader in transitioning to green agriculture, applying circular economy models and regenerative agriculture in its investment projects across various provinces.
With this green loan, Mavin Group will continue its sustainable development journey with specific actions aimed at reducing emissions and moving towards the future. Mavin believes that each company committed to practicing responsible and sustainable business will contribute to a prosperous life and bring valuable benefits to current and future generations.
With this green loan, Mavin Group will continue its sustainable development journey with with the support of partners HSBC bank, KPMG…