Vietnam recently hosted the Vietnam ESG Investment Conference 2024 in Ho Chi Minh City, organized by Raise Partners and Vietnam Innovators. This significant event marked an important step in the country’s sustainable development journey.
The conference aimed to connect investors, business leaders, research institutions, and non-governmental organizations, both domestic and international, to promote environmental, social, and corporate governance (ESG) projects. By fostering these initiatives, the conference aspired to build a resilient, inclusive, and prosperous future for Vietnam.
Van Ly, a partner at Raise Partners, emphasized that ESG is no longer merely a part of corporate social responsibility or marketing strategies. It has become an integral aspect of business operations, legal partnerships, certification systems, and investment criteria.
“Especially in the context of integration, Vietnamese businesses need to proactively strengthen their ESG policies to meet international requirements, thereby opening doors for growth and expansion,” said Van Ly. The Vietnam ESG Investment Conference was established with the mission to spread the importance of impactful business operations as a guiding principle towards a resilient future.
Vietnam ESG Investment Conference 2024
Key to Achieving Sustainable Development Goals for Businesses and the Nation
Vietnam has committed to achieving net-zero emissions by 2050, ending deforestation by 2030, and reducing greenhouse gas emissions. To fulfill these commitments, the country requires investment capital of up to $368 billion and the promotion of public-private partnerships.
Ha Thu Thanh, Chairman of the Board of Directors of the Vietnam Institute of Directors, emphasized the crucial importance of building a solid investment infrastructure to attract significant capital for carbon emission reduction activities. Several key projects, including the development of a renewable energy ecosystem for industrial and service parks, smart grids, and energy storage systems, require financial resources for implementation and development, contributing to Vietnam’s growth trajectory.
Tim Evans, CEO of HSBC Vietnam, echoed the sentiment, stating that the energy transition roadmap and efficient investment models necessitate collaboration between the public and private sectors. He affirmed HSBC’s commitment to accompanying the Vietnamese government and businesses in their journey towards the net-zero emissions goal by 2050.
To achieve sustainable development goals for businesses and the nation, a key factor lies in leadership and the ability to translate values into strategic actions. According to Quyen Vu, CEO of Biti’s, “Building an effective ESG strategy is not just about setting goals. For long-term success, this strategy needs to be built on the foundation of the organization’s leadership values and implemented across all levels of the business.”
Vietnam’s Key to Enhancing Its Position in the Global Value Chain
As a significant hub for manufacturing and agriculture, Vietnam plays a crucial role in the global value chain, directly impacting international trade. Consequently, the country’s climate strategies and challenges have a considerable influence on external economic events.
With Vietnam’s supply chain facing multiple risks from climate change, Bruno Jaspaert, CEO of DEEP C Industrial Zones, called on manufacturing and agricultural businesses to prioritize building resilience and adopting sustainable measures to ensure the smooth operation of the supply chain in the face of any eventuality.
“To cope with climate change, businesses need to implement solutions such as infrastructure upgrades, supply diversification, adaptation measures, and enhanced workforce capabilities,” advised Bruno Jaspaert.
Craig Martin, Chairman of Dynam Capital, and Pham Hoang Hai, Head of the Vietnam Business Council for Sustainable Development, emphasized that investing in human resources is the key to Vietnam’s consolidation of its position in the global supply chain. It also enhances the country’s competitiveness in the international market and ensures sustainable growth and resilience in the face of ongoing challenges.
