FPT Corporation partners with USAID for carbon neutrality by 2040

FPT Corporation, Vietnam's first technology firm to partner with the United States Agency for International Developments (USAID) Vietnam, has signed a Letter of Cooperation with the Vietnam Low Emission Energy Program II (V-LEEP II) to further its goal of becoming carbon neutral by 2040. This target is a full decade earlier than Vietnam's national commitment.

The agreement, set to span from April 2024 to April 2025, outlines V-LEEP II's provisions of technical assistance to FPT as the corporation formulates its transition to net-zero. As part of the collaboration, V-LEEP II will enhance FPT's understanding of Net Zero strategies, educate them on advanced clean energy concepts such as the Direct Power Purchase Agreement mechanism, Renewable Energy Certificates, Battery Energy Storage Systems, and Rooftop Solar Development for Self-consumption, among other important topics.

Beyond improving FPT's knowledge base, V-LEEP II will aid the tech firm with capacity-building programmes in various areas and introduce them to leading renewable energy developers. This strategic networking initiative will help FPT acquire first-hand experience in the deployment and use of advanced clean energy, a vital step in bringing down greenhouse gas emissions and achieving carbon neutrality.

"Our collaboration with USAID aligns with our commitment to spearheading initiatives to mitigate the impact of greenhouse gas emissions in Vietnam. We aim to positively impact the living, working, and learning environments for both 1 million FPT employees globally by 2035 and society at large. FPT will steadfastly pursue the mission of establishing a resilient, happy global corporation," said FPT Senior Executive Vice President, Nguyen The Phuong.

FPT Software, a subsidiary of the corporation, has also signed the Letter of Cooperation with USAID's V-LEEP II. Echoing FPT's commitment, Nguyen Khai Hoan, Senior Executive Vice President of FPT Software said, "FPT Software has the mission to support the growth of the nation, and we are also committed to aligning with our global clients on sustainable development efforts. The support from USAID is important for us to achieve this goal."

FPT's commitment to sustainability has been lauded by the USAID/Vietnam Deputy Mission Director, Bradley Bessire. He said, "FPT is the future of Vietnam business. It is powerful that FPT is thinking about the future, and I hope that will positively influence Vietnam's younger generations and business community. We are excited to be part of this progress together with FPT towards a sustainable future."

As part of its sustainability efforts, FPT is actively implementing measures to reduce energy consumption and greenhouse gas emissions. They're building environmentally friendly workplaces, initiating tree-planting schemes for carbon offsets, offering discounts for employees purchasing electric vehicles, and ensuring all employees receive annual training on environmental protection. Riding on its technology expertise, the corporation has put internal digital transformation initiatives in place, transforming itself into a paperless business model, with over 100,000 e-contracts signed in 2023 alone. This is a 6.6% increase compared to the previous year.

Notably, FPT's recent publication of its ESG report underlines its continued commitment to the highest standards of sustainable development through four key areas, including Environmental Sustainability, Work Environment, Social Responsibility, and Excellent Governance.