Friday, June 21, 2024

Morinaga Nutritional Foods Vietnam Integrates Sustainability with Business Strategy

HANOI, Vietnam, May 21, 2024 /PRNewswire/ — Morinaga Nutritional Foods Vietnam (MNFV), a company under the Morinaga Milk Industry Group (Japan) and formerly known as Elovi, is introducing its new strategies for sustainable development and responsible business in Vietnam, in line with the Morinaga Milk Industry Group’s long-term vision and sustainability strategy.

Driving Shared Value with Social Responsibility and Sustainability

Aligning with the United Nations’ statement in “Our Common Future”(1987), that Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs,” MNFV’s approach is to reduce negative impacts on the environment and society as much as possible, while creating positive value for society through business, and sustainably increasing corporate value.

“We believe that contributing to the sustainable development of Vietnam, not just for our sales and profit, is the significance of our business expansion from Japan to Vietnam. We also have a responsibility to future generations. Built into our business is the belief that taking positive action toward global environmental and social issues is indispensable for the future. We would like to pursue economic and social value at the same time and contribute to the sustainable development of Vietnamese society and the Morinaga Milk Industry Group.” shared Mr. Uechi Naoto, the Executive Director of the Corporate Division of MNFV.

To outline the key role sustainability and responsible business practices play in driving value for Vietnamese consumers, MNFV leaders recently spoke at a seminar organized by the UN Development Programme of Vietnam and Vietnam Japan University in February, where they also elaborated on the brand’s key Sustainability Management Strategy.

Mr. Uechi Naoto is discussing the topic of Responsible Business at an event jointly organised by UNDP and Vietnam Japan University.
Mr. Uechi Naoto is discussing the topic of Responsible Business at an event jointly organised by UNDP and Vietnam Japan University.

Sustainability Management Strategy Focus Areas in Vietnam

In line with the Morinaga Milk Group’s sustainability management policy, MNFV has developed specific issues to be addressed and action plans for the Vietnamese market. The management members discussed the issues and action plan for about six months, and officially started full-scale actions at the timing of the company name change. MNFV’s sustainability management consists of four pillars and nine key issues. The company has established specific action plans for each of the key issues.

The four pillars consist of Food and Wellness, Resources and the Environment, People and Society, and Governance and Risk Management, which are linked to business activities.

The key sustainability pillars of Morinaga Nutritional Foods Vietnam
The key sustainability pillars of Morinaga Nutritional Foods Vietnam

Based on the Action Plan, concrete actions have also been initiated, for example, the “decision to install solar panels in the factory” and “conducting a human rights impact assessment” in the first quarter of 2024.

In April, the company also launched a short-term training program on sustainability management for the next generation – university students. “Companies need to engage in dialogue not only with our customers and business partners, but also with our various stakeholders. In particular, the younger generation will be the future leaders of Vietnamese society, and it is essential for management to listen to their opinions,” said Uechi.

Having incorporated the principles of sustainability and social responsibility across its business, MNFV will continue to advance by objectively reviewing performance, optimizing its mid-to-long-term sustainability plan as needed, and proactively communicating progress across stakeholders.

For more information about Morinaga Nutritional Foods Vietnam, visit: Nutritional Foods Vietnam | LinkedIn

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