ANNUAL REPORT 2024
TOGETHER IN BELIEF, LEADING IN INNOVATION
094
095
Environmental, Social, and Governance (ESG) Activities
Strategic Projects to Enhance Competitiveness in 2024
comparison criteria in the 2025 inventory cycle. To enhance accuracy and real-time oversight of GHG emission activities, the Company is collaborating with a specialized software provider to establish a real-time data collection system, aiming for quarterly emissions inventory in the future. The Company collaborated with Gaia Nature Conservation on a significant reforestation initiative, contributing to the planting of 2,000 ironwood trees in Ben En National Park, Thanh Hoa. This project aimed not only to restore native forests and expand green coverage but also to raise awareness about environmental conservation within the community. The active participation of employees, partners, distributors, and selected customers enriched the initiative, fostering deeper connections and a shared sense of purpose. Moving forward, the BOM is committed to adopting this activity as an annual tradition, underscoring the Company’s unwavering dedication to sustainability and its continued efforts to drive meaningful environmental and social impact.
At were restructured, encompassing critical areas such as logistics, product packaging, and warehousing. These adjustments ensured greater synchronization, improved product quality, and delivered tangible cost efficiencies by optimizing production expenses, increasing labor productivity, and achieving significant cost savings. factories, operational processes While the domestic market presented ongoing challenges, the BOD and BOM expressed confidence in the potential for recovery and growth in the near term. During 2023, the focus was on expanding the distribution network, whereas in 2024, the emphasis shifted towards improving customer experience. Key initiatives included leveraging innovative tools like Make Your Space and Online Catalogue , which enabled customers to engage with the Company's products in a digital setting. Additionally, the launch of Creative Hub by An Cuong in three major cities provided a unique, creative environment, fostering inspiration and deeper connections between customers and the Company’s product offerings.
In 2024, the Company concentrated its efforts on implementing key strategic projects designed to improve internal management efficiency and enhance adaptability, with the overarching goal of strengthening our competitive advantage in the market.. A standout achievement was the successful upgrade of the ERP system to the SAP S4/HANA platform, which became fully operational at the start of the year. This transformation optimized management processes and significantly shorten decision-making timelines, enabling more agile responses to strategic priorities. Concurrently, the Company undertook a comprehensive review and refinement of internal workflows, designed not only to meet operational requirements but also to enhance service quality for partners and customers, all while ensuring strict adherence to risk management policies.
Under the directive of the BOD, An Cuong proactively developed and integrated ESG-related initiatives into our business strategy. With an annual emissions reduction target of 2%, the Company prioritized energy audits and transitions, focusing particularly on electricity consumption, which constitutes the majority of emissions. At the manufacturing areas, the proportion of solar power usage in production increased to 9.2% of total energy consumption, reflecting a near 5% improvement compared to 2023. Additionally, the Company gradually introduced electric vehicles for business operations, replacing fossil fuel-powered alternatives. Greenhouse gas (GHG) emissions inventories for 2024 were conducted in compliance with ISO 14064-1:2018 standards and verified by a third party. Due to changes in emission source structures during 2024, the Company could not compare emissions units across consecutive years. However, these data sources are expected to meet
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