Speaking at the seminar “Promoting Sustainable Governance and Creating Social Impact towards Businesses’ Sustainable Development Goals,” Mr. Nguyen Quang Vinh, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) and Chairman of the Vietnam Business Council for Sustainable Development (VBCSD), affirmed: “Net Zero is an urgent goal that requires the joint efforts of all parties to promote synchronous transformation.”
MORE THAN 60% OF SUSTAINABLE DEVELOPMENT INDICATORS RELATE TO SOCIAL ISSUES
Regarding this “urgency,” Mr. Vinh said that over the past 40 years, the oceans have absorbed about 90% of the excess heat trapped by greenhouse gas emissions. If we don’t take action, we will suffer far heavier losses than we can imagine in the not-too-distant future. This shows that the goal of reducing greenhouse gas emissions by half by 2030 and transitioning to net-zero emissions by 2050 must be achieved. This is a pressing issue for all countries and economies worldwide, including Vietnam.
“Net Zero 2050 is not a target to be taken lightly, but it is very urgent, and stronger promotion is needed to make it a reality within 25 years, which is not a long time,” said Mr. Vinh.
On the journey towards Net Zero 2050 or building a sustainable future for all humanity, the role of the sustainable business community has been affirmed as particularly important.
By promoting sustainability, businesses will ensure their business license, continuous business plan, enhance their brand reputation, and thereby ensure long-term growth for the business itself.
The development and implementation of strategies, practices, and evaluations based on the ESG framework for sustainable business development have received much attention and active participation from many Vietnamese businesses.
“ESG issues are extremely important for any business aiming for sustainable development. Of the 17 sustainable development goals comprising 169 specific indicators adopted by the United Nations in the 2030 Agenda, more than 60% of these indicators are social issues. This shows that businesses need to focus on social issues alongside economic and environmental ones,” affirmed Mr. Vinh.
Mr. Vinh also said that today, social factors in business have become more balanced. However, this is also an area where society expects businesses to create new values in the social and environmental fields. This requires businesses to take the initiative in these matters.
MAKING SUSTAINABLE DEVELOPMENT A COMMON ISSUE
According to Ms. Tran Thi Thuy Ngoc, Deputy General Director of Deloitte Vietnam, governance and human resources management play a crucial role in sustainable development. Governance starts with leadership management. Many successful businesses have followed the model of having a Sustainability Committee within their Board of Directors, with the Board member heading the Sustainability Committee. This is an advanced governance model.
Mr. Khuat Quang Hung, Director of External Affairs, Communication, and Sustainable Development of Nestlé Vietnam and Vice Chairman of the EuroCham Vietnam Green Growth Committee, shared that Nestlé is very proud and pleased to have built a team of Green Ambassadors. Today, large corporations have ESG committees, sustainable development committees, and teams of experts, and they foster a corporate culture of sustainable development. However, there is still a lack of connection between the group initiating sustainable development projects and the group of employees within the business.
Realizing this and due to the diverse groups of employees with different levels of understanding of sustainability, Nestlé’s Green Ambassador team plays a connecting role in communicating strategies, goals, and orientations to different groups of employees. At the same time, they make these goals a common and everyday issue rather than grandiose targets such as contributing to enhancing community livelihoods through changing awareness.
Nestlé’s supply chain includes farmers and transportation and supply units. Nestlé works directly with nearly 24,000 farmer households in four provinces in the Central Highlands, helping them change their mindset about cultivation: shifting from old practices to sustainable and regenerative agricultural models… This leads to higher-quality coffee, higher incomes for farmers, and improved livelihoods. In addition, the environmental impact is also gradually improving as farmers use less chemical fertilizer and learn how to care for the land to keep it fertile without erosion over time.
The content of this article was published in the Vietnam Economic Magazine, Issue 38-2024, released on September 16, 2024. Please visit the following link to read the full article: https://postenp.phaha.vn/chi-tiet-toa-soan/tap-chi-kinh-te-viet-nam.
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