Home Credit's approach aids success in Global CSR & ESG Awards

At the Global CSR & ESG Awards 2022 ceremony on November 3 in Hanoi, Home Credit was one of the brightest names to be awarded the Platinum rank, the highest honour in each award category, globally.

As a prestigious award with a long history in the field of sustainable development, the 14th annual Global CSR & ESG Awards 2022 with the theme Accelerating Net-Zero & ESG attracted over 300 senior executives, corporate social responsibility (CSR) and environmental, social, and governance (ESG) experts from the region, and 25 renowned speakers from a variety of fields.

The event was a chance for them to highlight projects for environmental preservation, community empowerment, gender equality, respect for diversity in the workplace, supply chain transparency, corporate accountability, and actions for the greater good of society.

While discussing the prize, Pham Thi Bich Lien, head of Marketing Operation & Sustainability at Home Credit Vietnam, said that sustainable development is a widespread trend in the strategies of global corporations.

In addition to commercial growth objectives, the company continually invests in efforts to promote corporate governance, preserve the environment, and help the community, with the aim of achieving sustainable development with Home Credit.

“ESG is key to Home Credit's commitment to doing ethical business. The award coincides with the 25th anniversary of the company's founding, providing a significant milestone for the worldwide Home Credit leadership and team,” Lien said.

Home Credit had to accomplish ideal performance in terms of ecology, society, education, women's empowerment, corporate culture, innovation, statistics, and ESG index reporting surpassing over 350 nominees from worldwide organisations and get the top rating for the CSR & ESG Leadership Award.

According to the organisers of the award event, Home Credit's significant contribution has had a beneficial influence globally, which is reflected in its solid financial outcomes. Its business' transparency, financial reports, and sustainability are also significant advantages.

Since the publication of its first ESG report at the end of 2021, Home Credit Group has achieved great progress. The awarding of the Global CSR & ESG Awards 2022 is only one example among many.

Its sustainable development plan and ESG policy strive to standardise and bolster the business' relationships with its consumers, employees, and other stakeholders, as well as society at large. To deeply integrate ESG principles into their operations, businesses develop strategies based on two levels – organisational and national – and six pillars, namely responsible finance, economic growth, digital empowerment, financial inclusion, sustainable communities, and a diverse workforce. Home Credit focuses on responsible financing and digital empowerment, in which responsible finance and digital empowerment are the two focuses woven into Home Credit’s DNA.

Home Credit is a pioneer in establishing ESG principles in the consumer financing market in Vietnam. The year 2022 marked many major initiatives for the firm on its journey to expand its sustainable development activities by strengthening the database of ESG KPIs, promoting the standardisation of financial and technological knowledge with the launch of Home PayLater, providing financial support and consulting solutions for numerous companion projects, and assisting underprivileged women in remote areas to start their own businesses.

Herein lies the key to Home Credit's ongoing success of serving more than 14 million clients, acquiring 300,000 new customers every month, amassing approximately 6,000 staff, constructing a network of 9,400 retail partners, and keeping bad debt below 3 per cent (below the State Bank of Vietnam's authorised threshold).

Transparency, fairness, and friendliness are key differentiating factors that form the core part of Home Credit’s approach to responsible finance and sustainable communities, winning the CSR & ESG Leadership Awards as well as many other international accolades.

Home Credit is working with OnePay on the buy now pay later (BNPL) model to promote digital payment habits in Vietnam.

The Czech Republic installed a jukebox at its embassy’s premises in Hanoi last week on the occasion of its National Day with sponsorship by Home Credit Vietnam.