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Speaking at the opening ceremony of the Vietnam Sustainable Business Assessment and Announcement Program (CSI) 2023 on May 31, Mr. Nguyen Quang Vinh, Vice President of the Vietnam Confederation of Trade and Industry (VCCI) and Chairman of the Vietnam Business Council for Sustainable Development (VBCSD ) said that a recent survey conducted by the Research Board for Private Economic Development (Ban IV) shows that the current economic picture is changing. Many dark colors.
SUSTAINABLE COMPANY, EVEN PASSION
Over 82% of companies said they plan to downsize, suspend or cease operations in the remaining months of this year. Companies also show low confidence when more than 81% assess the economic outlook for the remaining months of this year as negative or very negative.
“It can be said that these figures are similar to previous projections for a ‘post-Covid’ period – that is, when companies really ‘take action’ when their reserve resources are depleted. Because we have to deal with the pandemic,” said Vinh.
However, in this difficult environment, there are many companies that are not shaken by the “storm”, such as PNJ, Vinamilk, Traphaco, Bao Viet, PAN Group, SASCO…
These companies performed well despite the pandemic and also recovered faster than others. These are companies that were already consistently pursuing and implementing a sustainable business strategy before the outbreak of the pandemic.
As a company that has applied the Corporate Sustainability Index (CSI) in corporate governance, Deputy General Manager of PetroVietnam Power Corporation (PV Power) Mr. Nguyen Duy Giang said, in addition to maintaining good production and business activities, meeting the requirements under the international integration, PVPower also constantly improves and improves the quality of corporate governance in accordance with international standards, publicity and transparency in operations and management. Disclosure of Information.
The results of the current PwC survey on the subject of “consumer habits” also show that consumers today are more concerned about the environment. More than 47% of survey participants indicated that they would rather use biodegradable products.
Previously, the 2020 Nielsen report also showed that 80% of consumers are willing to pay big for products that champion “green” and “clean” or are made from eco-friendly materials. On the part of international investors, too, they want to prioritize investment capital flows for companies and projects with a sustainable orientation.
FROM THINKING FOR SUSTAINABLE DEVELOPMENT BREAKDOWN FOR WHAT?
Mr Vinh said that a few years ago, companies were still vague and saw sustainable development as a distant story that was only for the ‘big’. But now this story has become obvious.
In practice, the economy in the current context is again faced with the question “Sustainable development for what?”. From a different perspective, companies ask the question: “What’s the point of sustainable development if we can’t overcome difficulties now?”
The Vice Chairman of VCCI said that this is clearly a very realistic question, forcing those who advocate sustainable development to rethink and give more thought to how Vietnamese companies, especially more than 90% small and medium-sized companies, could break out of this “thought trap”. .
In addition to the timely and synchronous support of the government through timely “empowerment” measures to eliminate the bottlenecks and difficulties faced by enterprises, enterprises need a right attitude towards sustainable development. steady.
In particular, considering the current trend of consumption and investment focused on sustainability, companies will realize that sustainable development is not a cost or a burden, but an investment and an opportunity for companies. Karma.
Therefore, companies need to innovate their manufacturing and business activities, optimize resources, develop “green” products and services that meet consumer needs, and affirm vision and sustainable business capabilities to better attract long-term investment capital.
“Just like a fisherman who always catches a big catch after a storm, if companies stay true to their sustainable development strategy, they are sure to grow stronger than ever in the face of the challenges ahead,” Mr Vinh said.
In particular, the VCCI leaders emphasized that sustainable development is no longer an ambitious goal, but an essential measure that contributes to building a prosperous business community and brings not only financial but also financial benefits. Creating values for employees, investors, interest groups and the environment in the long term.
“The implementation of sustainable development is not difficult and far-fetched for companies, but on the contrary: just by ensuring compliance with legal requirements, companies have a solid foundation for sustainable development,” emphasized Mr. Vinh.
At the opening ceremony, the organizing committee of the program presented in detail the new points of the CSI 2023 index. This year, the CSI Index continues to serve as the basis for assessing the country’s sustainable development. Companies participating in the program.
CSI 2023 is broken down into 7 parts instead of 3 in the old version and includes 130 metrics, of which 63% are compliance metrics and 37% are advanced metrics. Each index is used to declare specific content, making it easier for companies to list and provide information.
The CSI 2023 Index has built-in quantitative indicators to assess the implementation of sustainable development by companies in the three-year period from 2020 to 2022 in the areas of economy, society and the environment. School.
The Index also deeply integrates the 2020 Environmental Protection Act and focuses on three factors: inventory of carbon emissions, actions to adapt and mitigate climate change, and implementation of circular economy models.
Additionally, CSI 2023 continues to focus on key social work-related indicators such as corporate diversity and equality commitments such as gender equality, women’s empowerment, respect for children’s rights, human rights, flexible working…
In 2023, the program will accept applications from companies of all sizes and industries via an online application form and will not charge any company.
In addition to evaluating and announcing 100 sustainable companies, the CSI 2023 program has also developed award categories to honor companies with good performance in “promoting implementation of the circular economy model, responding to climate change and climate change,” climate change, and empowering women and gender equality at Workplace”.
Following the opening ceremony, the organizing committee of the program will organize face-to-face/online training courses on corporate governance in general and on the organization and application of the CSI Index in corporate governance in particular from June to August 2023.
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