Synesgy is a digital platform that helps organizations and businesses measure their environmental, social and governance impacts, certified by CRIF Ratings (CRA). Synesgy's assessment methodology is based on international standards, such as the Global Reporting Initiative (GRI). Currently, the Synesgy platform has been deployed in more than 30 countries and territories and is compatible with more than 35 different industries and sectors, including finance and banking.
Mr. Le Hong Linh, founder of Expo.vn, the unit implementing the Synesgy assessment and certification platform in Vietnam, said that this criteria system is suitable for all business sizes, from small and micro enterprises to large companies and corporations, and this is a good "test" to evaluate the level of ESG practices of businesses.
For F88, Synesgy scored highly in categories related to environmental protection and especially absolute scores in categories contributing sustainable development values to society, such as community engagement, human resource management and creating relationships with stakeholders. Corporate governance is also a factor that Synesgy highly appreciated.
Operating since 2013 and currently having nearly 850 transaction offices nationwide, F88 is currently one of the leading large enterprises providing comprehensive financial solutions for ordinary customers. The advantage of F88's loan package is that it is transparent and easy to access. Notably, F88's customers are people below the bank standard, people who cannot borrow capital from banks or financial companies. Therefore, F88's loan products are considered to have contributed to covering financial segments, supporting customers when they do not know where to borrow and further contributing to limiting black credit. This is the biggest "plus point" of this enterprise.
F88 also actively organizes community-oriented programs. Since 2019, each year the F88 Grain of Love fund has regularly donated more than 10,000 gifts to families in difficult circumstances thanks to its nationwide network of transaction offices. But the most impressive is the Green Dream program that supports disadvantaged women to start businesses and become the masters of their families' economies. The program's principle is to donate all supplies for production and business, not to support cash, thanks to which the change is sustainable. Regarding inward values, the "Happy Life Progress" working environment of this enterprise is highly appreciated by the Great Pace To Work (GPTW) organization for its principles and initial successes in the policy of improving the quality of financial compensation in parallel with taking care of the health and spirit of employees and their families. In parallel, governance achievements were also highly rated, based on the early implementation of core governance frameworks such as the code of conduct (CoC), risk management framework as well as the effective implementation of sustainable development initiatives. What F88 has done is highly appreciated by many people because in the current popular financial market, not many businesses focus on building and implementing development strategies based on ESG standards like F88 has done.
“Synesgy’s assessment helps businesses demonstrate their commitment to sustainability and transparency – values that are increasingly important in the current context. Synesgy’s certification is proof that F88 operates responsibly and sustainably, following global best practices,” said a representative of Expo.vn, the ESG certification unit under the Synesgy criteria in Vietnam.
