Prudential Vietnam – The only insurance enterprise to receive 2 sustainable development awards

Program on Benchmarking and Announcing Sustainable Companies in Vietnam in 2022 (CSI 2022) honoured Prudential Vietnam Assurance Private Ltd. (Prudential Vietnam) with two noble recognitions: Top 10 Sustainable Enterprises in Commerce – Services and Top 5 Business Enterprises with the Responsibility to Respect Human Rights and Children’s Rights. This accomplishment celebrated 23 years of sustainable growth for Prudential in the Vietnamese market.

Program on Benchmarking and Announcing Sustainable Companies in Vietnam in 2022 (CSI 2022) benchmarked more than 1500 companies and commended best business practices on responsible production and operation over the three comprehensive perspective: Economic – Social – Environment. Prudential was honoured as one of the Top 10 Sustainable Businesses in Vietnam’s commerce and services after thorough review and voting rounds by the Review Council. On its sixth consecutive year winning this award, Prudential consistently obtained high rankings in the commerce and services sector; in addition to meeting the criteria for 130 categories of The Corporate Sustainability Index.

Prudential received the Top 10 Sustainable Businesses award in commerce and services in Vietnam six times in a row

Additionally, Prudential was also honoured as the Top 5 Responsible Businesses on Children and Human’s Rights. It is a newly added thematic award that makes a difference to the Sustainable Business Index of 2022 – honoured best practices in children and human’s right policies, that aligned with the United Nations Guiding Principles on Business and Human Rights (UNGPs).

Prudential’s efforts to bring sustainable and long-term value to the community, especially children, are recognized with a thematic award for businesses that conduct business responsibly, respecting children’s rights.

Mr. Nguyen Quang Vinh, VCCI Vice Executive Chairman, VBCSD Chairman assessed that the COVID-19 pandemic had shown companies that practiced responsible business and promoted human rights can withstand crises well and recover quickly. Its high ranking in the corporate sustainability assessment also affirmed Prudential’s exemplary position in the Life Insurance industry and recognized its contribution to the overall development of the Vietnamese economy.

Mr. Phuong Tien Minh, CEO of Prudential Vietnam, stated: ” As a substantial investor in Vietnam’s domestic capital markets, Prudential is in a strategic position to maneuver green finance. We keep building a safe environment, as well as creating positive values for society and providing solutions to help people live a healthier and wealthier life. We commit to support the sustainable growth and prosperity of Vietnam.”

Phuong Tien Minh – CEO of Prudential Vietnam

Let’s look back at Prudential’s journey with its efforts to contribute to the sustainable development of the community and society.

Committed to accompanying the Vietnamese government to achieve Net Zero

During National Assembly Chairman Vuong Dinh Hue’s official visit to the United Kingdom in June, Group Executive Committee of Prudential had the opportunity to meet the Chairman and discuss priority issues of the Government of Vietnam. Prudential affirmed its commitment to supporting Vietnam’s economy through important initiatives such as green investment like Green Finance, insurance technology, and the development outlook of Ho Chi Minh City to become an international financial hub.

At the global scale, Prudential also released a White Paper to promote green economy to emerging markets like Vietnam, in order to achieve the target of zero greenhouse gas emissions by 2050.

Making health and wealth securities accessible to Vietnamese community

In order to address peoples’ protection needs in the face of the epidemic’s severe financial strains, Prudential Vietnam had introduced numerous online insurance product lines with affordable prices for the past three years, in addition to its core product lines; such as PRU-Modern, PRU-Easy365, PRU-Guard 24/7, and PRU-Tropical. These aimed to be straightforward, contemporary, and simple to purchase through well-known e-commerce sites such as Shopee and MoMo.

Launched at the start of 2020, Pulse by Prudential – a comprehensive health and wellness application has reached 2.8 million users. Aside from the popular features like Healthcheck, Symptom Checker, and Telemedicine, a new feature called “Mental Wellness” were introduced as an effort to raise awareness about the value of leading a balanced life, both physically and psychologically for Vietnamese people.

Creating sustainable value for the community with practical actions

In addition to emergency relief activities for natural disasters and epidemics with the budget of more than VND 1.5 billion, Prudential implemented many activities to bring sustainable value to the community and society.

A typical long-term project can be mentioned as “Independent Seniority”. The project, which was started in 2020, helps individuals become more conscious of the problem of Vietnam’s aging population. Prudential recently arranged the Aging Summit 2022 conference with the theme “Aging population – Opportunities and Challenges for Millennials” to inspire young people to actively plan and take steps to have a self-sufficient and fulfilling old life.

For four years now, Prudential has been implementing the Cha-Ching financial education initiative in more than 84 elementary schools in 2022.  The project has given basic information and skills to more than 55,000 students, more than 900 teachers, and hundreds of parents with children aged 7 to 12, using an engaging curriculum, varied learning resources, and adaptable “edutainment” methods. Prudential wants to empower kids financially so they may grow up to be responsible, confident, and aware adults who can make sound financial decisions.

4. Creating the diversity and harmony culture in the workplace

The diversity and harmony culture in the workplace is one of the key factors of the Corporate Sustainability Index. This is one of the new ESG elements included in the The Corporate Sustainability Index to gauge the sustainability of enterprises.

Prudential scored for its comprehensive strategy of developing a diverse and harmonious working environment, which was reflected in specific policies and actions. The most recent was the Pride at Work event, which was jointly arranged by Prudential and the British Chamber of Commerce (BritCham) in Vietnam. The event was part of a series of activities aimed at breaking gender stereotypes in the workplace, promoting equality at work, and acknowledging individual diversity. To effectively embed Diversity and Inclusion (D&I) into the business culture, Prudential also introduced other internal initiatives, including Pink Day and extending health screenings to same-sex partners. Statistics show that 35% of senior management at Prudential Asia are female, and the company had been listed in Bloomberg magazine’s Gender Equality Index for the past two years.

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Source: Vietnam Insider