Total number of recruitmentTotal number of turnover
Overview of
the Sustainability Report
Throughout the development process, PVCFC has consistently positioned sustainable development as a strategic priority, integrating with economic growth objectives while ensuring a balance of interests among stakeholders and environmental sustainability, aimed at the prosperity of the community and society.
To help stakeholders gain a clear understanding of PVCFC's strategic direction, governance approach, objectives, as well as sustainability activities and results, we have prepared a standalone Sustainability Report since 2023, following widely recognized international standards. This report provides a comprehensive overview of the sustainable development (SD) strategy, environmental and social policies, the identification and management of SD-related risks and opportunities, as well as the sustainable development activities and performance results of PVCFC. This report supplements the consolidated information provided in PVCFC's 2024 annual report.
The 2024 Sustainability Report was reviewed and approved by the Board of Directors of PVCFC through Resolution No. 940/NQ-PVCFC dated 24 April, 2025 based on the proposal of the ESG Committee.
Reporting standards
This Sustainability Report of PVCFC are prepared with reference to:
1
Global Reporting Initiative (GRI) Standards, Universal Standards 2021
2
Sustainability Accounting Standards Board (SASB) for chemical sector (RT-CH), version 2023-12
3
Sustainable Development Goals of the United Nations with related contents at goals 1, 2, 3, 5, 6, 7, 8, 9, 12, 13, 14, 15, and 17 to promote global sustainable development.
The fulfillment of GRI and SASB standards is presented in the checklist attached to this report.
In addition, we also refer to the guidelines, recommendations and policies related to sustainable fertilizer management and use of the Food and Agriculture Organization (FAO), and at the same time, we aim to comply with the standards and practices in fertilizer industry of the International Fertilizer Association (IFA) to ensure the production, distribution and use of fertilizers in safe, effective and sustainable manners, contributing to the goal of developing a green and sustainable agriculture in Vietnam as well as increasingly meeting the needs of customers. At PVCFC, we always place our customer-centric approach at the heart of our development strategies, working together with farmers to create a more sustainable and prosperous life, continuing to strengthen our foundation, and pursuing the motto of "strong aspiration, faster, more effective! ".
Principles of report development
This Sustainability Report focuses on analyzing key issues and areas that significantly impact PVCFC’s business operations while reflecting the deep concerns of stakeholders. We apply the GRI 2021 Principles of Sustainability Reporting in preparing this report, specifically as follows:
At PVCFC, we always place our customer-centric approach at the heart of our development strategies, working together with farmers to create a more sustainable and prosperous life, continuing to strengthen our foundation, and pursuing the motto of "strong aspiration, faster, more effective! "
Reporting Period
GRI 2-3
This report is prepared for the fiscal year of PVCFC, starting from 01 January 2024 and ending on 31 December 2024.
Scope of report
GRI 2-2
The report is conducted in Vietnam, focusing on the fertilizer production and business sector. Unless specifically stated otherwise for individual sections, this consolidated Sustainability Report is prepared for PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC) and its 2 subsidiary, PetroVietnam Packaging Joint Stock Company (PPC) and Korea-Vietnam Fertilizer Co., Ltd. (KVF). The data for the parent company will include the Ca Mau Fertilizer Plant, the office in Ca Mau, and the office in Ho Chi Minh City.
Report format
This report is published on a digital platform on the company's website at the following address: https://www.pvcfc.com.vn/
Contact information
GRI 2-3
We welcome your sincere feedback to enhance the transparency and completeness of this report. Please kindly send any comments related to sustainable development to:
Mr. Do Thanh Hung - Corporate Secretary
-
Email: ir@pvcfc.com.vn
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Hotline: 1800 888 606
Audit/Assurance
GRI 2-5
The indicators disclosed in this Sustainability Report have been assured by third-party/ independent auditors as detailed below:
Independent Limited Assurance by Deloitte Vietnam Audit Co., Ltd. for the following indicators:
- Total electricity consumption (Million kWh) - GRI 302 - 1;
- Total water consumption (m3) - GRI 303 - 5;
- Employee turnover rate (%) - GRI 401 - 1;
- Total number of employees by gender and position - GRI 405 - 1;
- Direct greenhouse gas emissions - GRI 305 - 1;
- Indirect greenhouse gas emissions - GRI 305 - 2;
- Greenhouse gas emission intensity - GRI 305 – 4.
PVCFC’s Internal Audit Division has provided limited assurance on the following indicators:
- New employee recruitment and employee turnover – GRI 401-1
- Average hours of training per year per employee – GRI 404-1
- Programs for upgrading employee skills and transition assistance programs – GRI 404-2
- Budget for CSR activities – GRI 413-1
- Consolidated financial indicators (assets, revenue, profit, and contribution to State budget) are audited by Deloitte Vietnam Audit Co., Ltd.
- In August 2024, PVCFC completed an energy audit (a major energy usage facility conducts audits every three years) with consulting from Bach Khoa Energy Saving Joint Stock Company and a team of energy experts from Denmark. The energy audit report was submitted to the Department of Industry and Trade of Ca Mau Province, which responded confirming compliance with Law No. 50/2010/QH12 on Economical and Efficient Use of Energy, Decree 21/2011/ND-CP detailing the law on economical and efficient use of energy and measures for its implementation, Circular 25/2020/TT-BCT on preparing plans for economical and efficient use of energy and reports on implementation thereof; implementation of energy accounting.
- The energy consumption for production at the Ca Mau Fertilizer Plant has been verified by Haldor Topsoe from Denmark, the technology licensor for ammonia production.
- The Greenhouse gas emission inventory report of PVCFC was conducted with consulting support from Bach Khoa Energy Conservation Joint Stock Company
- The Greenhouse gas emission inventory report of KVF was conducted with consulting support from Vietnam Technology Solutions Joint Stock Company.
Waste management indicators:
1
- Household Waste: Verified by Ca Mau Urban Environment Joint Stock Company.
2
- Industrial Solid Waste: Verified by Vietnam Handles Clean Environment Company Limited.
3
- Hazardous Waste: Verified by Moc An Chau Logistics Corporation.
4
- Automatic and continuous monitoring data is collected at a frequency of every 5 minutes and is transmitted directly to the Department of Natural Resources and Environment of Ca Mau Province.
5
- In 2024, 100% of the data from the cooling water discharge stations, and emissions monitoring stations at the particulate matter stacks, ammonia and NPK emissions monitoring stations and 99.71% of the data from the wastewater monitoring stations were transmitted to the Department of Natural Resources and Environment of Ca Mau Province (Excluding days when the plant was closed for maintenance or due to internet network issues) and the recorded results showed that no parameters exceeded the permissible limits.
LIMITED ASSURANCE OPINION BY THE INTERNAL AUDIT DIVISION
On the selected Environmental and Social indicators disclosed in the 2024 Sustainability Report of PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC)
The Internal Audit Division of PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC), established in November 2020 under the Board of Directors (BoD) pursuant to Decree No. 05/2019/ND-CP, has performed a limited assurance engagement on certain sustainability indicators disclosed in the 2024 Sustainability Report. Our work was conducted in accordance with PVCFC’s Internal Audit Charter and Procedures and with reference to the International Standards for the Professional Practice of Internal Auditing issued by the Institute of Internal Auditors (IIA), with the aim of providing independent and objective assurance.
The Internal Audit Division provided limited assurance services on the following four sustainable development indicators for PVCFC for the financial year starting on 01/01/2024, and ending on 31/12/2024. These indicators were prepared in reference to the GRI Universal Standards 2021 and PVCFC’s Sustainable Development Orientation Framework (Decision No. 1696/QĐ-PVCFC dated June 10, 2024):
| Indicator | Description | GRI Standard |
|---|---|---|
| Employee recruitment and turnover rate | Total number of recruitment Total number of turnover |
GRI 401-1 (2016) |
| Training hours for employees | Total training hours Average of training hours |
GRI 404-1 (2016) |
| Skill enhancement programs for employees |
Summary and content of training programs: Advanced training courses: Training for experts, managers, and key personnel; skill development, foreign language courses, internal and overseas training in both in-person and online formats. Governance and professional workshops. |
GRI 404-2(2016) |
| Local community engagement activities | Budget allocated for corporate social responsibility activities | GRI 413-1 (2016) |
Employee recruitment and turnover rate
-
Description
-
GRI Standard
GRI 401-1 (2016)
Training hours for employees
-
Description
Total training hours
Average of training hours
-
GRI Standard
GRI 404-1 (2016)
Skill enhancement programs for employees
-
Description
Summary and content of training programs:
Advanced training courses: Training for experts, managers, and key personnel; skill development, foreign language courses, internal and overseas training in both in-person and online formats.
Governance and professional workshops.
-
GRI Standard
GRI 404-2(2016)
Local community engagement activities
-
Description
Budget allocated for corporate social responsibility activities
-
GRI Standard
GRI 413-1 (2016)
We have carried out procedures consistent with the limited assurance approach, including: (1) Interviewing and exchanging with relevant divisions/units to fully understand the policies, KPIs, current procedures in use, and the actual operational status of the divisions/units; (2) Documenting and confirming our understanding of policies, procedures, risks, and control activities; (3) Performing process checks to evaluate the effectiveness of control implementation; (4) Conducting reviews and exchanging on the performance of division objectives, risk management of the responsible divisions/units, and assessing the level of compliance with disclosure requirements according to GRI standards.
The PVCFC Executive Board is responsible for preparing and disclosing the above indicators, ensuring the accuracy, completeness, and appropriateness of the information, as well as establishing and maintaining the necessary internal control systems to ensure the accuracy, completeness, and appropriateness of the reported data.
The Internal Audit Division is responsible for providing an independent assurance opinion, based on the evidence collected during the assurance engagement.
Based on the procedures performed and the audit evidence obtained, we believe that the GRI indicators 401-1, 404-1, 404-2/404-3, and 413-1 presented in the 2024 Sustainability Report have been fairly and appropriately presented, in all material respects, with reference to the disclosure requirements of the GRI Universal Standards 2021 and the Sustainable Development Orientation Framework of PVCFC, as approved by the Board of Directors on June 10, 2024, under Decision No. 1696/QĐ-PVCFC regarding the approval of the ESG - Sustainable Development Strategy.
This assurance statement is issued by the Internal Audit Division of PVCFC within the scope of its functions and responsibilities as approved by the Board of Directors. The level of assurance provided is limited and is not equivalent to an independent audit opinion issued by a third party.
We accept no legal responsibility or liability for any third parties using this statement for investment, credit rating, or other financial decision-making purposes. This statement does not constitute a certification of the overall completeness of the Sustainability Report, but solely applies to the selected indicators outlined within the above scope of work.
April 10, 2025
Vu Chi Duong
Head of Internal Audit Division
Deloitte Vietnam Company Limited
15th Floor, Vinaconex Building,34 Lang Ha Street, Lang Ha Ward,Dong Da District, Hanoi, Vietnam
Telephone: +84 24 7105 0000
Fax: +84 24 6288 5678
www.deloite.com/vn
INDEPENDENT AUDITORS’ LIMITED ASSURANCE REPORT ON
SELECTED SUSTAINABILITY INDICATORS
To:
The Board of Directors
Petrovietnam Camau Fertilizer Joint Stock Company
Report on Selected Sustainability Indicators
We have been engaged with Petrovietnam Camau Fertilizer Joint Stock Company (“the Company”) to perform a limited assurance engagement on selected Sustainability Indicators for the year ended 31 December 2024 in Sustainability Report 2024 of the Company (“selected KPIs”).
The Board of Directors’ Responsibilities
The Board of Directors is responsible for the preparation and presentation of the selected KPIs in the Company’s Sustainability Report 2024 in accordance with criteria and reporting scope as presented in page 238 - 239 of this report. This responsibility includes design, implementation and maintenance of systems and procedures related to the preparation of selected KPIs in the Company’s Sustainability Report 2024 that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate criteria; using of assumption and estimates that are reasonable in the circumstances.
Our Independence and Quality Control
We have complied with the independence and other ethical requirements of the International Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants, which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviours.
We apply International Standard on Quality Management 1 and accordingly maintain a comprehensive system of quality management including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.
Auditor’s Responsibilities
Our responsibility is to express a limited assurance conclusion on the selected KPIs in the sustainability report based on the procedures we have performed and the evidence we have obtained in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised) “Assurance Engagements other than Audits or Reviews of Historical Financial Information”. This Standard requires that we comply with ethical requirements, plan and perform the engagement to obtain limited assurance about whether the selected KPIs are free from material misstatement.
The accuracy and completeness of the selected KPIs depends on the contingent limitations due to nature, methodology for determining, calculating and estimating those selected KPIs. Thus, our limited assurance report should be considered in conjunction with the Company’s sustainability report procedures.
The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had we performed a reasonable assurance engagement.
Subject Matter and Scope of limited assurance engagement
We performed limited assurance procedures on selected KPIs as follows:
| No. | Selected KPIs | GRI | Scope | Page |
|---|---|---|---|---|
| 1. | Total electricity consumption for the year ended 31 December 2024 | GRI 302-1 | (i) | 202 |
| 2. | Total water consumption for the year ended 31 December 2024 | GRI 303-5 | (ii) | 190-191 |
| 3. | Energy direct (Scope 1) GHG emissions for the year ended 31 December 2024 | GRI 305-1 | (i) | 220 |
| 4. | Energy indirect (Scope 2) GHG emissions for the year ended 31 December 2024 | GRI 305-2 | (i) | 220 |
| 5. | GHG emissions intensity for the year ended 31 December 2024 | GRI 305-4 | (i) | 220 |
| 6. | Rate of turnover and new hire for the year ended 31 December 2024 | GRI 401-1 | (i) | 138 |
| 7. | Total employees by level, by gender and by age group for the year ended 31 December 2024 | GRI 405-1 | (i) | 146 and 148 |
Total electricity consumption for the year ended 31 December 2024
-
GRI
GRI 302-1
-
Scope
(i)
-
Page
202
Total water consumption for the year ended 31 December 2024
-
GRI
GRI 303-5
-
Scope
(ii)
-
Page
190-191
Energy direct (Scope 1) GHG emissions for the year ended 31 December 2024
-
GRI
GRI 305-1
-
Scope
(i)
-
Page
220
Energy indirect (Scope 2) GHG emissions for the year ended 31 December 2024
-
GRI
GRI 305-2
-
Scope
(i)
-
Page
220
GHG emissions intensity for the year ended 31 December 2024
-
GRI
GRI 305-4
-
Scope
(i)
-
Page
220
Rate of turnover and new hire for the year ended 31 December 2024
-
GRI
GRI 401-1
-
Scope
(i)
-
Page
138
Total employees by level, by gender and by age group for the year ended 31 December 2024
-
GRI
GRI 405-1
-
Scope
(i)
-
Page
146 and 148
(i) The coverage includes Petrovietnam Camau Fertilizer Joint Stock Company (Camau Office, Camau Factory and Representative Office in Ho Chi Minh City); Petrovietnam Packaging Joint Stock Company (the Company’s subsidiary) and Korea-Vietnam Fertilizer Company Limited (the Company’s subsidiary was taken control by the Company from 01 April 2024).
(ii) The coverage includes Petrovietnam Camau Fertilizer Joint Stock Company (Camau Office and Camau Factory); Petrovietnam Packaging Joint Stock Company (the Company’s subsidiary) and Korea-Vietnam Fertilizer Company Limited (the Company’s subsidiary was taken control by the Company from 01 April 2024).
We performed limited assurance procedures on selected KPIs for the year ended 31 December 2024 as presented in the Sustainability Report 2024 of the Company. Our limited assurance engagement is not 3 related to prior periods and not extended to any other information of the Sustainability Report 2024, therefore, we do not express the conclusion on such information.
Criteria
The selected KPIs above were assessed in accordance with the Company’s internal sustainability reporting policies with reference to Global Reporting Initiative (“GRI”) and the reporting scope as described in page 238 - 239 of the Company’s Sustainability Report 2024.
Summary of procedures performed
Our limited assurance conclusion is based on the evidence obtained from performing the following procedures:
- Primarily interview personnel who are responsible for the preparation and presentation of the selected KPIs;
- Review the internal process for collection, aggregation and reporting of the selected KPIs;
- Inspect, on a sample basis, of vouchers, internal report provided by the Company and invoices provided by relevant suppliers supporting the preparation and presentation of the selected KPIs.
Conclusion
Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the selected KPIs for the year ended 31 December 2024 have not been prepared, in all material respects, in accordance with the Company’s internal sustainability reporting policies and the reporting scope as described in page 238 - 239 of the Company’s Sustainability Report 2024.
Use of this report
This report has been prepared solely for the Board of Directors of the Company for the purpose of reporting on the selected KPIs for the year ended 31 December 2024 in the Company’s Sustainability Report 2024 and should not be used for any other purposes. We do not therefore accept any obligations or responsibilities to any other parties than the Board of Directors of the Company, for the use of this report.
Tran Xuan Anh
Deputy General Director
Audit Practising Registration Certificate No. 0723-2023-001-1
DELOITTE VIETNAM AUDIT COMPANY LIMITED
24 April 2025
Hanoi, S.R. Vietnam
