The period 2022-2023 proved tumultuous and challenging for the global economy. GDP growth fell short of expectations, supply chains faced disruption, and the trade and investment market experienced a significant decline, particularly in the first half of the year.

Entering 2024, the global economy continues to face various challenges, but there have been certain signs of recovery. In Q1/2024, some major economies recorded slight growth, mainly due to economic stimulus measures and the recovery of the global supply chain.

However, the world still faces many uncertainties due to geopolitical fluctuations and especially the increasingly extreme impacts of climate change.

Vietnam faces unique and significant challenges. A World Bank report identifies Vietnam as one of the six countries most vulnerable to climate change. Since the beginning of 2024, complex natural disasters, including severe cold spells damaging crops in the North and prolonged record-breaking heat in the South, alongside increased saltwater intrusion in the Mekong Delta, threaten to significantly impact livelihoods and agricultural production.

In the face of this situation, the commitment to sustainable development from Vietnamese businesses becomes more critical than ever. To avert the severe and irreversible consequences of climate change, the business community must act swiftly and join forces with the Government to protect the environment for all.

Gemadept and the sustainable development journey

Having operated for 34 years in the port and logistics industry, with Vietnam as its core market, Gemadept has prioritized balanced economic development and minimal environmental impact as its guiding principles. This ensures sustainable and long-lasting growth for both the Company and the communities it serves. The company's Board of Directors and employees are steadfast and determined to create a smarter, more sustainable future for both the business and the nation.

The highlight of Gemadept's Sustainable Development Strategy is its orientation towards international standards, ensuring that it meets the country's open trade requirements with countries around the world.

Gemadept has been implementing greenhouse gas emission inventory and reporting programs according to ISO 14064-1 standard at its ports, while also developing Green Port models according to the TCCS 02:2022 CHHVN standard issued by the Vietnam Maritime Administration. These specific steps reaffirm Gemadept's determination in its green transformation journey, working hand in hand with the Government and the world towards carbon neutrality goals.

Creative Innovation, Technology Application, and Green Energy

In addition to pursuing international standards, Gemadept actively innovates and applies modern technology to optimize operational efficiency while minimizing environmental impact.

Driven by a spirit of innovation, Gemadept invests in digital transformation projects such as SmartPort, Smart Gate, and River Gate software, contributing significantly to increased productivity, reduced time and costs, and energy savings. These strategic advancements help Gemadept maintain and enhance its competitiveness in the ever-evolving market landscape.

Gemadept further promotes the adoption of renewable energy across its port-logistics ecosystem, including ports, distribution centers, and air cargo terminals. Notably, solar energy currently replaces 30-40% of the annual grid electricity consumption at SCSC Airport and Mekong Logistics cold storage warehouses.

Furthermore, the Company promotes various environmental initiatives, including planting and regenerating mangrove forests in the Mekong Delta, expanding green spaces at its ports, implementing water and electricity conservation practices, and providing training to enhance environmental awareness for employees and local communities.

Commitment to a Green Future

Gemadept extends its commitment and determination to the community through impactful social activities. In 2023, the Company organized various activities aimed at improving the quality of life and education within the community. The annual running race, "Gemadept Run 2023," raised funds for a school building project in the highlands, aiming to provide students and teachers with a safe and healthy learning environment.

Gemadept, along with member units within its ecosystem, organizes annual volunteer activities to support orphans, disabled children, flood victims, and soldiers stationed on Spratly Islands. These activities consistently generate positive social impact.

Paving the Path for Net Zero

Gemadept remains steadfast in its journey alongside the Government and the Vietnamese business community towards achieving Net-zero by 2050. Through concrete actions, the Company expresses its commitment to preserving a green and sustainable future for generations to come.

On the path forward, creating a green future, Gemadept and its partners are determined to overcome obstacles, bringing sustainable values to the community and society.