Sustainable growth is the right investment

05-Dec-2019 Intellasia | The SaigonTimes | 6:02 AM Print This Post

At Fico-YTL, sustainable growth is the long-term investment that benefits the company itself, the economy, and the community. Such a point is clarified in the cement manufacturer’s “Sustainable Development Goal 2025″ that was just unveiled in September.

By launching “Sustainable Development Goal 2025,” Fico-YTL targets to save on natural resources, control greenhouse gas emissions, and make positive contribution to the community, says Tran Minh Duc, a senior executive in charge of sustainable development management at the company. The combined goal is challenging, as it requires efforts and money while the returns do not come easy, but Duc says the company’s management has committed to pursuing the sustainable growth strategy for the long-term benefits for all stakeholders.

The new development concept was just introduced early this year when the cement maker was transformed from a State-owned firm under the name TAFiCO into Fico-YTL following the involvement of the foreign investor in December 2018. The board of directors then determined that the company’s business goal must be aligned with sustainable development, a strategy that has been advocated by the multinational YTL.

Duc explains that the “Sustainable Development Goal 2025″ will not only help Fico-YTL realise its development vision but also contribute to a prosperous economy for Vietnam.

Cement production, needless to say, relies heavily on natural resources and has adverse impacts on the environment, and what Fico-YTL is trying to do is to make turnarounds in those aspects by consistently applying long-term solutions to create positive changes.

Specifically, Fico-YTL has set the target to cut the proportion of clinker on a product unit by 5%, reduce thermal energy for clinker processing by another 5%, and boost the amount of alternative materials and fuels to 20%. It also aims to cut carbon dioxide emissions in cement production by 20%, while all wastes during internal production and business activities will be incinerated in clinker tunnels.

According to Duc, the treatment of wastes in clinker tunnels will not only help create revenue but also minimise impacts on the environment as no landfill is required.

To further ease the carbon footprint in cement production, Fico-YTL is developing a solar power plant with an output of 24MW near the company’s cement factory in Tay Ninh Province, with the target to supply sufficient energy for its cement production. This is a strategic step, as the solar power project helps the company cut cost in cement production on one hand, and ease the overload pressure at the local power grid on the other.

Commenting on the specific outcomes expected from its “Sustainable Development Goal 2025,” Duc says the company consumes up to 1.5 million tonnes of clinker a year, and if this consumption can be reduced by 5%, some 75,000 tonnes of limestone will be saved, while emissions will also be cut by 75,000 tonnes. In addition, the reduction of thermal energy by 5 percent will also help the company cut coal consumption by 9,000 tonnes a year.

“If over 80 cement factories countrywide are committed to apply such solutions, the total contributions to environment protection will be tremendous,” the senior executive observes.

While embracing sustainable development may make inroads into cement makers’ profitability, Fico-YTL is determined to pursue the goal, since “we consider it to be a long-term investment that will not only help the company win customers’ confidence but also help raise the public awareness on environmental protection,” Duc says.

https://english.thesaigontimes.vn/73252/sustainable-growth-is-the-right-investment.html

 


Category: Business, Vietnam

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