Accordingly, BCG Eco will operate mainly in the fields of afforestation, forest care and forestry tree nursery. The company has a charter capital of VND 20 billion, of which Bamboo Capital contributes VND 5 billion, equivalent to 25% of the charter capital, BCG Land – a subsidiary of Bamboo Capital contributes 26% of BCG Eco’s charter capital. The contributed capital comes from Bamboo Capital’s own capital. BCG Eco’s headquarters is located at the same headquarters as Bamboo Capital in Thao Dien ward, Thu Duc city, Ho Chi Minh city.
| Bamboo Capital Group established BCG Eco to realize sustainable development goals |
At the 2024 General Meeting of Shareholders, Mr. Nguyen Ho Nam – Chairman of the Strategic Council of Bamboo Capital Group shared that BCG is accelerating its ESG journey by applying a leading modern platform to monitor, analyze and evaluate carbon emissions at member companies. The Group’s sustainable development report is increasingly valued and implemented with higher and more stringent standards, this is an important part of the sustainable development and green development plan that BCG has planned for itself and its member companies.
Continuing the Group’s sustainable development strategy, BCG Eco was officially established with the goal of contributing to promoting environmental protection activities, exploiting the potential of the carbon credit market and promoting ESG initiatives.
The carbon credit market is increasingly becoming a potential business sector globally, and Vietnam is no exception. As climate change and environmental issues become more serious, countries and businesses have begun to pay more attention to reducing carbon emissions. At COP26, the Vietnamese Government committed to achieving Net Zero by 2050, which opens up great opportunities for the development of the carbon credit market.
According to Decree 06/2022/ND-CP regulating the development roadmap and implementation time of the domestic carbon market, from now until 2027, Vietnam will focus on developing regulations to manage and operate the carbon market. It is expected that by 2028, Vietnam’s carbon credit trading floor will be put into operation. This marks an important milestone in Vietnam’s efforts to fulfill its Net Zero commitment, while opening up great opportunities for pioneering businesses in developing and trading carbon credits.
In 2023, the Vietnamese forestry sector successfully sold 10.3 million forest carbon credits (10.3 million tons of CO2) through the World Bank. With a unit price of 5 USD/ton of carbon sequestration, the total value of the contract reached 51.5 million USD (about 1,250 billion VND). This shows that the potential of the carbon credit market is huge.
Recognizing this huge potential, BCG Eco has prepared carefully to seize the opportunity from the carbon credit market in Vietnam. With a solid foundation from Bamboo Capital Group and advice from experienced international partners, BCG Eco will take advantage of this preparation period to build capacity and develop afforestation projects.
In addition, BCG Eco aims to become an independent consulting firm, providing comprehensive solutions for businesses that want to participate in the carbon credit market, promote ESG initiatives, and expand business activities related to sustainable development.
The establishment of BCG Eco is an important part of Bamboo Capital’s long-term strategy, aiming to promote sustainable development and create long-term value for shareholders, partners and the community.
With support from policies and the legal framework being completed, BCG Eco promises to bring many economic and social values, while contributing to Vietnam’s common goal of achieving Net Zero by 2050.
| In early August, Bamboo Capital Group was honored in the Top 50 Outstanding Sustainable Development Enterprises in 2024. To achieve this title, Bamboo Capital Group has carried out many sustainable development activities based on three ESG pillars (environment – society – governance) and a sustainable development strategy closely linked to business goals.
In addition to implementing sustainable development activities, Bamboo Capital’s business situation also recorded positive indicators. In the first half of this year, Bamboo Capital recorded VND 2,100 billion in net revenue, up 16% over the same period, and after-tax profit reached VND 417 billion, 2.3 times higher than the same period last year. At the end of June 2024, BCG’s total assets increased by 3,200 billion compared to the beginning of the year, to 45,308 billion VND. Of which, cash increased sharply by 56% to 1,180 billion VND. Short-term receivables also increased to 14,872 billion VND. BCG has also increased its charter capital from VND5,334 billion to VND8,002 billion, raising its equity to nearly VND20,988 billion, of which undistributed profit after tax accounts for VND518 billion, surplus capital of VND867 billion, and other capital of owners of VND310 billion. |
Source: vietnamese