Vingroup is leading Vietnam’s green transformation through its electric vehicle company, VinFast, and a series of eco-friendly initiatives across its diverse business sectors. This strong commitment to sustainability positions Vingroup as a key player in leading the country towards a green future.
The global effort to reach zero emissions, or net zero, by 2050 is one of the most urgent challenges of our time, requiring integrated efforts from both the public and private sectors. In this race, large enterprises play a vital role in shaping a sustainable future through their actions and influence.
In Vietnam, Vingroup is playing a leading role in this green transition. With its widespread presence across various industries, the company exemplifies environmental responsibility through meaningful actions and sets a powerful example of how corporations can advance the green agenda.
Vingroup’s Green Commitment: A Comprehensive Approach
Vingroup is no stranger to the opportunities and challenges presented by the green transition. Its diverse business ecosystem spans key sectors such as automotive, real estate and tourism – industries that typically have significant environmental impacts. However, Vingroup has not only adjusted its operations for compliance; Instead, it has deeply embedded sustainability in its corporate DNA. This commitment to the green transition is reflected in almost every aspect of the Vingroup empire.
The clearest example of Vingroup’s leadership in Vietnam’s green transformation is VinFast, its electric vehicle (EV) division. Initially launched in 2017 as a traditional gasoline vehicle manufacturer, VinFast expanded to focus exclusively on electric vehicles in 2021. The decision to adopt electric vehicles was not just a financial move. Pham Nhat Vuong, chairman of Vingroup and founder of Vinfast, once The deeper motivation behind this change was revealed: “[We created VinFast] Because we feel the need to contribute to the society and not just do business.”
Staying true to this vision, VinFast developed seven fully electric vehicle models including e-buses, e-scooters and e-bicycles. The company has expanded its reach into international markets, as well as built an extensive charging network across Vietnam to accommodate its growing customer base. In 2023 alone, VinFast delivered 34,855 electric vehicles, reducing 152,000 tons of CO2 emissions.
VinFast’s rapid success is no accident – it reflects Vingroup’s strategic ability to integrate its large business ecosystem into the EV market. By offering incentives such as free charging, concessional parking and significant price cuts for VinFast EV owners staying at VinGroup properties or using their services, the corporation has made the green scheme truly beneficial for consumers.
This week, VinFast reached a new milestone by becoming the best-selling car brand in Vietnam in September. This is the first time an electric vehicle brand has led the Vietnamese market, representing a significant advancement for both the domestic automotive industry and the country’s journey towards green transportation.
Green initiatives in Vingroup’s ecosystem
Vinfast is not the only part of the Vingroup Group that is making significant progress towards sustainability. Other supporting companies within the “WIN” ecosystem are also working to reduce their environmental impact and promote sustainable living.
For example, Vinhomes, the real estate arm of Vingroup, has made substantial efforts to promote green urban living. Vinhomes’ eco-friendly properties are designed with sustainability at their core, incorporating energy-efficient technologies and green spaces that create a harmonious balance between urban development and nature.
Similarly, Vingroup’s hospitality and leisure brand, Vinpearl, has fully embraced its role in promoting sustainability. With 45 properties spread across 17 provinces, Vinpearl has implemented a number of energy-efficient measures, such as rainwater harvesting systems for irrigation and advanced wastewater treatment solutions that meet international standards. These efforts have earned Vinpearl a reputation as a “green paradise” collection, recognized by guests and local communities alike.
There are many other examples, all of which yield real-world results. In 2023 alone, Vingroup’s ecosystem will reduce total carbon emissions by 500,000 tonnes[1]Underlines the company’s commitment to environmental, social and governance (ESG) principles.
But while Vingroup’s contributions to Vietnam’s green transition are undeniably impressive, they serve a broader purpose: inspiring collective action. Achieving net zero emissions is a monumental task that no one corporation, government or individual can accomplish alone. The journey towards a sustainable future demands active participation from all individuals, communities and multinational corporations alike. Vingroup’s leadership in green initiatives stands as a powerful reminder of the positive changes we can create when we truly commit our efforts to a greener, more sustainable world.
