F88 Business JSC received an ESG Score of A from Synesgy, the highest score for compliance with ESG (environmental, social, and governance) principles.
The score on Synesgy’s scale indicates F88’s performance is at an “excellent level of sustainability.”
Since its inception in 2013, F88 has expanded its network with nearly 850 transaction branches nationwide. F88 is currently one of the leading enterprises providing comprehensive financial solutions for low- and middle-income customers. The advantages of its loan packages lie in transparency and accessibility. Notably, F88’s customers are underbanked, so they can’t access loans from banks and financial companies. F88’s loan products help increase the coverage of financial segments, support customers with lending demand, and stamp out black credit. This is a major plus for the company.
Synesgy is a digital platform that helps organisations and businesses measure their ESG impacts, certified by the CRIF Rating Agency. Synesgy’s methodology follows international sustainability standards such as the Global Reporting Initiative.
Le Hong Linh, founder of Expo.vn, which is implementing the evaluation and certification platform in Vietnam, said the criteria system was suitable for all business sizes, from micro and small enterprises to large corporations. This is a good test to evaluate the level of ESG practices of businesses.
For F88, Synesgy has given high scores in environmental categories thanks to its environmental protection efforts and especially absolute scores in society categories. Specifically, the company has made contributions to create more sustainable development values for society, such as community engagement, human resource management, and partnerships with stakeholders.
F88 has actively organised community programmes for several years. Since 2019, F88’s Grain of Love fund has granted more than 10,000 gifts to disadvantaged families each year thanks to its nationwide network of transaction offices.
The Green Dream programme is also impressive, as it supports disadvantaged women to start businesses and become masters of their families’ finances.
F88 is highly appreciated by the Great Pace To Work organisation for its happy and progressive working environment, upholding principles and policies to improve the quality of financial compensation along with the health and wellbeing of employees and their families.
In addition, the management achievements are also highly rated, based on the early operation of core management frameworks such as the code of conduct and risk management framework, as well as the effective operation of sustainable development initiatives. These initiatives reflect F88’s sustainable development in the current financial market.
“Synesgy’s assessment helps businesses demonstrate their commitment to sustainability and transparency values that are increasingly important in the current context. Synesgy’s certification serves as a restatement of F88’s responsible and sustainable operations in line with global best practices,” said a representative of Expo.vn.
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