Risk Management
Long Son Petrochemicals (LSP), Vietnam’s pioneering green manufacturer and the nation’s first integrated petrochemical complex. To strengthen our ability to achieve business objectives while proactively managing uncertainty, LSP has adopted the Enterprise Risk Management (ERM) Framework to ensure organization-wide, integrated risk management.
Our approach is embedded in a sustainable development structure, with oversight across economic, environmental, social, and governance (ESG) dimensions. A dedicated committee supervises and supports risk management planning at the business unit level, ensuring that key risks are effectively addressed. The status of risk management efforts is reported quarterly to the Risk Management Committee, ensuring transparency and accountability.
To enhance resilience, LSP integrates risk management with Business Continuity Management (BCM) and has developed comprehensive Business Continuity Plans (BCPs). These plans aim to minimize the impact of potential disruptions, emergencies, or crises on operations and stakeholders.
Post-Incident Response
LSP has established a clear crisis management governance structure and communication flow, enabling coordinated internal processes across responsible functions. This ensures timely and effective response to incidents, safeguarding both business continuity and stakeholder confidence during critical times.