VTHM Group, a leading tile manufacturer in Vietnam, recognized the growing importance of environmental, social, and governance (ESG) factors in the construction materials industry. To align their operations with sustainable practices and meet stakeholder expectations, they sought the expertise of Corpstage, a renowned sustainability consulting firm.
As a resource-intensive manufacturing company, VTHM Group faced ESG-related challenges, including high energy consumption, waste management issues, and potential social and governance risks. They lacked a comprehensive ESG performance understanding and the necessary framework for effective measurement and reporting.
Corpstage’s engagement involved a multi-phase approach to integrate ESG principles into VTHM Group’s operations and establish robust sustainability reporting.
Corpstage conducted a thorough assessment to identify VTHM Group’s most material ESG issues, such as energy efficiency, water management, waste reduction, and employee well-being. Based on the materiality analysis, Corpstage worked with VTHM Group’s leadership to develop a comprehensive ESG strategy and roadmap with specific targets, initiatives, and timelines.
Corpstage provided guidance and support in implementing various ESG initiatives, including energy efficiency programs, water recycling systems, waste management programs, and employee training and engagement. Corpstage assisted VTHM Group in establishing a robust sustainability reporting framework aligned with international standards, such as the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB).
Corpstage emphasized the importance of stakeholder engagement throughout the ESG journey. They facilitated stakeholder dialogues, conducted surveys, and organized workshops to gather input and feedback from various stakeholders. This inclusive approach ensured that VTHM Group’s sustainability initiatives were aligned with stakeholder expectations and created shared value.
The successful partnership between VTHM Group and Corpstage highlights the value of integrating ESG principles into business operations and leveraging sustainability consulting expertise. VTHM Group embraced sustainable practices, minimized its environmental impact, improved social responsibility, and gained a competitive advantage in the market. This case study demonstrates how companies can achieve economic growth and environmental stewardship through strategic ESG implementation and transparent reporting.