Vietnam's most sustainable companies in 2018

November 24, 2018 | 08:00
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Based on 500 applications received from the business community for the Programme on Benchmarking and Ranking Sustainable Companies in Vietnam, on November 22, Vietnam Business Council for Sustainable Development (VBCSD) under the guidance of the Vietnam Chamber of Commerce and Industry (VCCI) organised the awarding ceremony of 100 Sustainable Companies in Vietnam 2018.
vietnams most sustainable companies in 2018
Deputy Prime Minister Vuong Dinh Hue speaking at the awarding ceremony of Sustainable Companies in Vietnam 2018 (image source: TTXVN)

Attending the ceremony were Deputy Prime Minister Vuong Dinh Hue, and representatives of ministries, agencies, international and domestic organisations, as well as the business community. The list of 100 Sustainable Companies 2018 includes Novaland Group, Thuduc Housing Development Corporation, Swiss Post Solution Co., Ltd., Tin Nghia Corporation, Sacomreal JSC, Bao Viet Securities JSC, LDG Investment JSC, Loscam Vietnam Co., Ltd., Amway Vietnam Co., Ltd., Lee & Man Vietnam Co., Ltd., and C.P Group,HERBALIFE VIETNAM, among others.

Speaking at the awarding ceremony, Deputy Prime Minister Vuong Dinh Hue lauded the initiative of VCCI and the Ministry of Natural Resources and Environment (MoNRE) and the Ministry of Labour, Invalids and Social Affairs (MoLISA) to build the Corporate Sustainability Index (CSI) with 131 criteria for the annual ranking and celebration of the most sustainable companies in Vietnam. These criteria have contributed to implementing Vietnam’s National Sustainability Agenda, the United Nation’s Sustainable Development Goals (SDGs) in Vietnam, and supporting the Corporate Development Criteria announced by the Vietnamese government on Business Day (October 13).

Over the last five years, with the help of the government, the Vietnamese business environment has improved by 30 steps in the global ranking (according to World Bank's Doing Business report), national competitiveness climbed by 20 steps on the ranking of the World Economic Forum (WEF), and GDP per capita has increased year by year over the last 20 years. These achievements were largely contributed by the efforts and innovation of the business community.

The deputy prime minister emphasised that rapid and sustainable development, part of the UN’s 2030 Agenda and Sustainable Development Goals, is the best way to close the gap with more developed countries. He said: “There is a well-known saying: ‘If you want to go fast, go alone. If you want to go far, go together.’ I hope Vietnamese businesses will work closely together for Vietnam’s sustainable long-term development.”

Assessing the impacts of the programme, Vu Tien Loc, chairman of the VCCI, said that the Programme on Benchmarking and Ranking Sustainable Companies in Vietnam has raised awareness and boosted Vietnamese businesses to implement the 17 SDGs. This year’s list of the 100 most sustainable companies, there are numerous new names in addition to famous returnees.

vietnams most sustainable companies in 2018
Businesses honoured as the most sustainable companies in 2018 (image source: TTXVN)

Nguyen Quang Vinh, representative of VBCSD cum general secretary of VCCI, said that the a standard of sustainable development has just been built. Each socioeconomic and environmental category of the Corporate Sustainability Index is split into basic and advanced levels, which are closely related to the 17 SDGs of the United Nations, while also serving as a guideline for the implementation of corporate sustainability activities. The companies reaching this standard were also awarded certificates.

Representing one of the honoured companies, Chung Wai Fu, general director of Lee & Man Vietnam, said: "We have long-term core values, including modernisation, innovation, green production, as well as paying attention to human resources and local people. In order to actualise these values, our company produces more than 90 per cent of our products from recycled paper/by recycling paper, modern and environmentally friendly production lines, along with international standard waste treatment system."

In a message to the business community, Vu Tien Loc stressed that VCCI and VBCSD hope to change the business mindset across the country, paying more attention to sustainable development. "This is not a task for big groups or organisations but is nevertheless an inevitable requirement for the development of any corporation," he said.

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional