Nguyen Thi Thanh Nga - Expert, Department of Science, Education, and Natural Resources, MPI
ESG is a sure-fire approach to achieving green growth and net-zero. As a state management and lead agency for green growth and sustainable development, the MPI has issued the National Action Plan on Green Growth, providing 10 strategic orientations and eight solutions across various industries and fields, highlighting the role of businesses. The Ministry of Planning and Investment (MPI) in cooperation with the UNDP promotes inclusive businesses in the fields of agriculture and food processing.
Recently, a National Assembly delegation participated in the ASEAN Inter-Parliamentary Assembly to put the issue on the agenda of the ASEAN parliamentary delegation. The MPI promotes sharing experience and institutionalising ESG approaches. Countries in ASEAN need a common criteria framework for businesses to approach ESG, facilitating trade between the bloc and other countries. ESG is a more updated version of the new trend of net-zero goals, social responsibilities, environmental protection, and a better version of sustainable business practices.
For Vietnam, this is a new and difficult issue, so it is necessary to spread ESG into the business community so that it can understand the actual nature of their normal business practices that have contributed to ESG, in both large and micro enterprises, both foreign-invested and domestic enterprises.
Hoang Thi Thanh Thuy - Director of International Business TH Group
The Vietnamese agricultural sector has grown tremendously, from producing sufficient food to meeting the needs of nearly 100 million people, and to exporting goods worth nearly $50 billion a year. We have also witnessed the strong development of many enterprises in the agricultural sector, including TH Group.
The government is developing agricultural infrastructure, and promoting the participation of private firms in investment, development, and application of scientific and technological achievements in agricultural production and expansion of the public-private partnership model. In addition, the government is also promoting the application of digital technology in agricultural value chains.
At TH, we are taking the lead in this field. To build a sustainable ecosystem, since 2008, TH Group has applied green technologies with a large amount of grey matter such as digital technology, cloud technology, AI, and governance science to achieve the best efficiency in using resources. TH Group’s production model is a closed circular economic model: all organic matter and organic waste from livestock farms are collected and processed into biological buffers in service of the farm and used to make organic fertilisers. Animal husbandry wastewater is used to improve arable land and return to the natural environment after being treated up to standards.
TH has also invested in rooftop solar energy, which both produces electricity and reduces heat absorption for the roof of the barn, increases animal welfare, and reduces heat stress for cattle in summer.
Supa Waisayarat - Country director, Super Energy Corporation Vietnam
We aim to operate in green businesses which have less impact on society and the environment, like solar, wind, and hydrogen energy. Furthermore, we are continuing to improve the investment and business environment as a whole to enhance competitiveness and attract more investment.
Therefore, all activities that focus on the environment, society, and good governance are our targets in next year and thereafter.
With the generation capacity of 886MWp from our solar and wind energy plants, we produced approximately 2GWh of electricity from the beginning of this year, and have contributed to reducing carbon emissions of about 1.5 million tonnes in Vietnam.
Tran Dao Duc - Deputy general director CEO Group
Although ESG is a relatively novel concept for Vietnamese businesses, associated regulations have become increasingly apparent, and the awareness of people and businesses has been constantly improved.
In recent years, we have been making strides to ensure that our projects meet the requirements set on the environment when in the development pipeline. For example, air conditioners for real estate projects will use the best cooling solvents to protect the environment, along with the use of inverter systems to ensure energy savings towards reducing greenhouse gas (GHG) emissions.
During a project’s implementation, equipment suppliers to CEO group will be asked about how this equipment, in addition to the optimal price, will contribute to ensuring the project would be greener and more economical.
Although CEO Group has no specific roadmap for ESG implementation, the Board of Directors is striving to concretise associated criteria in the group’s development strategy.
To support companies in ESG implementation, businesses expect the government to provide specific regulations, accompanied by necessary instructions and support to materialise the government’s commitments towards the international community.
Nguyen Chi Hieu - Director, ESG Consulting KPMG in Vietnam & Cambodia
Recently, KPMG conducted a study on sustainable development, which is the first time Vietnam has participated in this research. We see a lot of growth in the ESG journey along with the businesses’ growth journey.
ESG is not a trend but it is really necessary for the long-term development of businesses. Regarding the environment, when the government committed to net-zero, enterprises are the main object in the transformation of the economy. In Vietnam, some enterprises have clear development strategies, baselines, criteria, and goals for each period. Regarding social criteria, it can be to improve human freedom and raise the benefits and welfare of employees. In terms of governance, it could be a commitment to fighting corruption, not investing in political activities.
Foreign-invested enterprises are very interested in ESG and Vietnamese enterprises have also begun to pay attention and follow. However, this begins with measuring and reducing emissions, biodiversity, data privacy, and others. These factors make enterprises more transparent and attract more investors.
Darrell Oh - General director Pfizer Vietnam
At the heart of Pfizer’s ESG approach is the simple idea that our values and commitment to long-term sustainability are the way we strive to fulfill our purpose – breakthroughs that change patients’ live, build trust, and take accountability for the impact we make on society.
ESG issues are increasingly a priority to our stakeholders, and we recognise the impact of environmental issues on society and public health. We seek to harness our cutting-edge science to create a healthier, more equitable world, and we are deeply committed to acting ethically, thoughtfully, and responsibly in all that we do.
In June, Pfizer announced an intent to take even more ambitious action, adopting the voluntary net-zero standard. This standard urges long-term action to reduce company emissions by 95 per cent and value chain emissions by 90 per cent. Pfizer aims to achieve net-zero by 2040, 10 years earlier than standard expectations.
As part of Pfizer’s purpose, we are working to mitigate the further effects of climate change on the environment and on human health. Our efforts alone, however, will not create the level of action needed to address it. We recognise the need for action by all sectors, public and private, and commit to partnering to address climate change across our value chain.
Joseph Low - President (Vietnam) Keppel Land
Keppel Land is commemorating 30 years in Vietnam this year. Over the years, the company has contributed to Vietnam’s urbanisation by offering high-quality and sustainable urban space solutions that enrich people and communities. We will continue to advance our sustainability capabilities and pursue business opportunities, especially in sustainable urban renewal.
We are guided by Keppel’s Vision 2030 – the group’s long-term strategy to guide its growth and transformation with sustainability at its core.
We are making sustainability our business by providing solutions that contribute to sustainable urbanisation and combatting climate change.
Keppel Land has taken significant strides forward for sustainability lately, including announcing our targets to halve our absolute scope 1 and 2 GHG emissions from 2020’s level by 2025, and achieve net-zero by 2030. We are also contributing to greening the built environment with our suite of sustainable, smart urban space solutions.
In Vietnam, Keppel Land is looking to implement sustainable urban renewal technologies at our projects, and we will work with best-in-class local and international partners to incorporate innovative urban solutions such as smart security, smart mobility, and environmental infrastructure solutions into our projects.
Through the deployment of smart building technologies and innovations, we can further offer enterprise solutions and create attractive propositions with a customer-centric approach.