Nexif Ratch Energy (NRE) has earned the Platinum Award for Asia’s Best Sustainability Report (SME) at the 11th Asia Sustainability Reporting Awards (ASRA)—the highest honour in its category. The recognition marks a significant milestone for the fast-growing renewable energy platform, affirming its rapid maturity in ESG governance, data transparency and cross-border sustainability integration.
In this exclusive interview, Irdez Azhar, Sustainability and ESG Director, reflects on the evolution of NRE’s reporting since its 2021 baseline and explains how the company has shifted from compliance-focused disclosure to performance-driven, assured reporting across multiple jurisdictions. “The ASRA Platinum Award affirms our maturity in ESG governance and transparency,” he says.
Congratulations on winning at the 11th Asia Sustainability Reporting Awards. What does this recognition mean for your sustainability team and your organisation?
The ASRA Platinum Award affirms our maturity in ESG governance and transparency. It recognises how far we have come since our 2021 baseline—expanding report coverage to all key projects and offices, integrating independent assurance, and strengthening cross-border collaboration. It is also a validation of the team’s discipline and the company’s commitment to credible, data-driven reporting.
Sustainability reporting has evolved rapidly. How has your reporting approach matured over the past few years, and what were the biggest lessons from this journey?
We have progressed from compliance-style reporting to performance-driven disclosure. The lessons are clear: align the reporting boundary with actual operational growth, embed assurance early to strengthen data credibility, and maintain continuity by minimising restatements. These steps have made our reports both more reliable and more strategic.
The ASRA judges emphasise rigour, transparency, and impact. Which parts of your report best demonstrate these qualities?
Rigour is reflected in our stakeholder-weighted materiality assessment, which involved 134 respondents from six priority groups, including investors, lenders, local government units, contractors, employees and community representatives. Each group’s input was scored and weighted to avoid dominance by larger cohorts, ensuring balanced outcomes. For instance, community feedback directly guided the prioritisation of “Community Health and Safety” and “Biodiversity Management” in high-impact project areas such as Song Giang and Ben Tre.
Transparency is evident in how NRE clearly maps changes in reporting scope and methodology from year to year. The 2024 Report expanded coverage to new assets—such as Minh Luong Hydropower Plant (Vietnam) and the San Miguel Bay Wind Power Project (Philippines)—while explaining boundary shifts and data refinements. This allows readers to follow the company’s operational growth without losing comparability with previous years.
Impact is demonstrated through the tangible improvements driven by our Environmental and Social Management System (ESMS). ESMS-based procurement now requires contractors in Vietnam and the Philippines to meet IFC-aligned environmental, health and safety standards. Outcomes include biodiversity monitoring partnerships with Hue University at Song Giang, and targeted CSR programmes supporting local schools and infrastructure in Khanh Hoa (Song Giang) and Bicol (CARE). These initiatives show that sustainability is embedded in daily operations and results in measurable community and environmental benefits.
Could you walk us through the process of materiality assessment — and how you are integrating double materiality or value-chain impacts into your reporting?
We used a dual-lens survey approach that captures both financial and impact materiality, weighting responses to ensure balanced stakeholder representation. The results were plotted on both axes, clearly linking business relevance with environmental and social value. This provides the foundation for NRE’s progressive transition towards double materiality and broader value-chain disclosure.
How do you ensure data accuracy and credibility across complex topics such as GHG emissions, supply-chain sustainability and human rights?
We maintain monthly ESG governance checkpoints and rely on independent assurance partners—such as CSRWorks—for selected indicators. Our ESMS framework embeds IFC-aligned controls into procurement and contractor management processes, ensuring consistent data quality and traceability across all operating assets.
What new sustainability frameworks (for example, ISSB or TNFD) are you preparing to align with, and what challenges or opportunities do they bring?
The 2024 Sustainability Report references GRI and SASB, establishing a strong foundation for future alignment with ISSB and TNFD. This will enable NRE to enhance climate- and nature-related disclosures in an integrated, investor-relevant format. For example, our TCFD-aligned emissions reporting prepares us for IFRS S2, while our IFC PS6 biodiversity work positions us well for TNFD. This approach strengthens our credibility with lenders and investors as global sustainability reporting frameworks continue to converge.
Reporting aside, which sustainability initiative or achievement from the past year are you personally most proud of?
Our operational integration—SG1’s construction progress, Minh Luong’s post-acquisition compliance, and CARE’s transition to full commercial operation—demonstrates how governance translates into performance. These milestones show that sustainability is not an appendix to the business, but a driver of growth and resilience.
How do you engage internal teams and business units in the sustainability agenda so that reporting reflects genuine performance, not just compliance?
Our sustainability team works directly with asset and project directors, ensuring that the report accurately reflects conditions on the ground. Stakeholder engagement—from investors to local communities—feeds into our decision-making processes, while procurement reviews and quarterly Board–Shareholder ESG sessions ensure governance and reporting remain aligned.
Many companies are still struggling to link sustainability KPIs with business results. How has your organisation made that connection visible in its strategy and disclosures?
Our materiality matrix explicitly connects ESG priorities with financial and operational value. For example, “Local Economic Impact” is treated as a financially material issue, showing how community investment and operational reliability contribute to long-term competitiveness and stakeholder trust.
Finally, what advice would you give to other sustainability professionals aspiring to reach ASRA-winning standards in their reports?
Focus on three essentials: align reporting scope with actual operations, implement a structured and well-documented materiality process, and engage independent assurance partners early. These were crucial in elevating NRE’s report quality and credibility to a regional benchmark.
