Businesses embrace green transformation for net-zero goals

In his opening remarks at the Vietnam Corporate Sustainability Forum 2024, themed “Net Zero 2050: Nurturing Trust - Creating Transformation” on September 10, Pham Tan Cong, chairman of the Vietnam Chamber of Commerce and Industry (VCCI), noted that the forum (VCSF) is taking place under special circumstances.

Never before have Vietnamese people, especially those in northern localities, felt the value of sustainable development as clearly as they do now, following the largest super typhoon in the past three decades- internationally known as Typhoon Yagi, which caused devastating damage in terms of scale, intensity, and impact.

Cong said the VCCI is preparing a report to submit to the government with recommendations about solutions to support businesses in typhoon-affected areas.

He also called on the business community to join hands in helping people overcome the aftermath of the floods.

Reflecting the voice of the business community, Binu Jacob, CEO of Nestlé Vietnam and co-chair of the Vietnam Business Council for Sustainable Development, stressed that sustainability should be considered a value-creating driver, not a burden for businesses.

In the green transformation process, many bottlenecks and challenges will persist, and one of these obstacles is linking sustainability with the core drivers that influence purchasing decisions.

“Businesses need to change their approach and connect with consumers so that true sustainable initiatives become value-creating drivers. Additionally, businesses need to enhance multi-stakeholder cooperation through dialogue platforms like this forum,” said Jacob.

Addressing the green transformation journey by promoting diversity, inclusiveness, and increasing the participation of women business leaders, Milly Cheng, president and CEO of Coca-Cola Vietnam, shared that the company's long-term sustainable development strategy leverages three main pillars: product, planet, and people, which serve as the guiding principles for the company's development.

“With nearly 10 years of community support through the EkoCenter project, Coca-Cola Vietnam constantly innovates to build advanced and resilient communities in the digital era through STEAM education courses, e-commerce skills training, and solutions promoting the circular economy as well as climate change mitigation at the company's community support centres across the country,” said Cheng.

As a responsible nation, Vietnam has made commitments and proactively worked to reduce greenhouse gas (GHG) emissions, the primary driver of global warming.

With the involvement of the entire political system, the Party and the state have prioritised adopting a sustainable development model based on two simultaneous pathways.

First, adapting to climate change and building resilience. Second, moderating climate change by decarbonising growth, reducing emissions gradually through an appropriate roadmap, and steering the economy towards reducing reliance on carbon-intensive energy sources, with the aim of achieving net-zero emissions by 2050.

“To successfully implement these pathways, we all agree that the participation of the business community is essential,” said Cong.

During the forum, delegates received updated information from representatives of the Ministry of Planning and Investment, the Ministry of Natural Resources and Environment, and the Ministry of Agriculture and Rural Development.

The topics featured the latest directions to promote green transformation, Vietnam's progress on achieving sustainable development goals, key domestic and international policies on GHG emissions reduction for climate change adaptation, and building a low-carbon agriculture sector.

These discussions were also of practical significance, helping businesses realise their sustainable development goals and contributing to achieving net-zero emissions by 2050.

Held annually since 2014 by the VCCI in tandem with the VBCSD, the VCSF is considered a leading national dialogue platform for the business community on sustainable development in Vietnam. This year's forum attracted the participation of over 400 delegates, thousands of online viewers, and nearly 30 distinguished speakers.

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