Sustainable Development in New Era: Turning Aspirations into Action

Delegates pose for a group photo at the Vietnam Corporate Sustainability Forum 2024

On this occasion, Nguyen Quang Vinh, VCCI Vice President and VBCSD Chairman, shared insights on core messages, challenges, and policy directions for businesses amid the era of green transformation, digitalization, and inclusive growth.

With the theme “Sustainable Development in the New Era: Turning Aspirations into Action”, what is the main message that VCSF 2025 sends to the business community?

As Vietnam approaches its 80th National Day, the country is also entering a new “era of national rise.” In this context, VCSF 2025 calls on the Vietnamese business community to turn development aspirations into concrete, strategic, and responsible actions. VCSF 2025 will be the place to clearly demonstrate the determination of the business community to accompany the country on the journey to rise to become a developed, modern, prosperous, and inclusive economy. The forum is not only a platform for high-level policy dialogue between businesses and the Government but also a space to share ESG practices, green transformation, new adaptation strategies in the period of “dual transformation”, thereby continuing to inspire and encourage the business community to pursue sustainable business. In the context of an increasingly uncertain world – from climate change, energy security risks, to geopolitical conflicts – the path of sustainable development is no longer an option, but a necessity if businesses want to survive and grow.

Policy breakthroughs and advances in science, technology, innovation, and digital transformation are key to driving the green shift and sustainable economic growth. In your view, how can Vietnam best optimize its national resources to achieve the VSDGs amid a world rife with volatility?

According to the 2025 Sustainability Report, only 35% of global sustainable development goals (SDGs) are on track. Vietnam needs to accelerate much more strongly, more decisively, and needs to utilize synchronously three resources: institutions - finance - people to catch up with the progress. By 2030, Vietnam will need about US$45 billion per year for SDG-related fields. In which, green finance and climate finance are key factors. The workforce needs to be trained in new skills to adapt to sustainable production models, digital transformation, and global standards such as Environmental, Social, and Governance (ESG); Global Reporting Initiative (GRI); or Task Force on Climate-related Financial Disclosures (TCFD). We must improve national standards on environment, carbon, and corporate governance to align with new-generation trade agreements.

It can be said that in a volatile context like now, to fulfill the above requirements, Vietnam needs to implement strong transformations. And that transformation and reform is happening right now. The rearrangement of ministries and branches, reorganization of administrative boundaries, operation of the new two-level local government model has created new development premises for the country. Along with that, the Politburo has issued a quartet of pillar resolutions that have created many new motivations for green transformation and SDGs. Specifically, Resolution 57-NQ/TW on breakthrough development of science, technology, innovation, and national digital transformation, considering businesses as the center in launching programs to promote the application of artificial intelligence, automation, circular factory models to increase energy efficiency and reduce emissions, has created a strong launch pad for digital transformation, green transformation at a faster speed, promoting the application of AI, automation, and circular production; Resolution 59-NQ/TW on international integration in the new situation helps businesses easily access global green and sustainable value chains; Resolution 68-NQ/TW determines the private economic sector as one of the most important drivers of the economy, the vanguard force in promoting growth, restructuring the economy toward green, circular, sustainable; and Resolution 66-NQ/TW on perfecting domestic institutions and laws, creating legal corridors for ESG, carbon pricing, and sustainable initiatives.

What is the biggest challenge for businesses in the current context?

As mentioned, Vietnam is promoting a synchronous policy network – from administrative reform, promoting innovation, merging administrative units, to international integration and perfecting institutions and laws – to activate and optimize all national resources for green transition. If businesses are placed at the center, have green capital, advanced technology, and a transparent legal corridor, we can completely turn SDG commitments, green growth, and Net Zero goals into specific actions – despite the harsh fluctuations of the international environment. The biggest challenge at present is not “lack of commitment”, but “lack of implementation capacity”. Vietnamese businesses, mostly small and medium-sized enterprises, are facing the biggest difficulty in accessing green capital. According to data from PwC, as of March 31, 2024, green credit outstanding in Vietnam reached nearly VND640,000 billion, equivalent to about 4.5% of the total credit of the system, and although the State Bank has issued the Green Credit Classification Framework since 2023, according to the IFC report, by 2024, only about 5% of credit outstanding in Vietnam is green credit. In addition, the lack of information and ESG implementation tools, difficulties in technology transformation or suitable human resources when circular production processes or energy-saving technologies are still high-cost also pose significant challenges.

How will VCCI support and collaborate with the business community to strengthen internal capabilities, enhance competitiveness, and transform challenges into opportunities for sustainable development?

As the national organization representing the business community, VCCI always determines that sustainable development is not only an inevitable trend of the times but also the way to enhance competitiveness, create long-term value for businesses and the economy. In the past time, VCCI, through VBCSD, has proactively implemented many strategic initiatives to support sustainable business development, in which can be mentioned as: (1) Vietnam Corporate Sustainability Forum  (VCSF) - a national forum gathering Government leaders, ministries, branches, localities, international partners, and the business community to discuss and share solutions to promote sustainable development; (2) Building and implementing the Corporate Sustainability Index (CSI) – a comprehensive management tool, helping businesses self-assess, review, and improve activities towards sustainability, meeting market and investor requirements. 2025 also marks the 10th consecutive year of CSI, so far thousands of businesses have used the CSI in assessment and sustainable reporting; (3) Implementing many training programs on ESG, circular economy, fair energy transition, transparent corporate governance, responding to CBAM and new environmental barriers; (4) Establishing an international cooperation network to connect Vietnamese businesses with global initiatives, standards, and resources for the green and digital transformation process. Over 15 years of persistent operation, VBCSD has built a network of more than 200 member businesses/organizations and domestic and international partners. VBCSD members are pioneers in sustainable development with significant contributions to the national economy, and are typical examples of applying new economic models, green and sustainable production initiatives.

In the coming time, based on the quartet of pillar resolutions, in addition to the activities that have been and are being implemented, VCCI and VBCSD will focus more on some key points as follows:

First, further promote the role of policy advice and bridge between businesses and the Government, to timely reflect difficulties, obstacles, and recommend policies suitable to reality, contributing to perfecting a favorable, transparent business environment to promote circular business models, green economy, sustainable development in the spirit of Resolution 66-NQ/TW.

Second, strongly promote business capacity building through training programs, providing sustainable management tools and solutions, supporting businesses in applying digital technology, green technology, artificial intelligence to improve productivity and reduce emissions in the spirit of Resolution 57-NQ/TW and Resolution 68-NQ/TW. VCCI-VBCSD will continue to operate and upgrade the CSI - a tool to measure sustainable health and ESG suitable to Vietnam's reality, helping businesses self-assess, improve, and prove sustainable development commitments.

Third, establish an ecosystem linking businesses - international partners - research organizations - financial institutions, helping businesses not only adapt but also turn challenges into opportunities, strongly promote digital transformation, green transformation to proactively participate deeply in global green value chains in the spirit of Resolution 59-NQ/TW. We will strengthen the role of VBCSD as a platform to connect businesses with each other and with international organizations, green investment funds, in-depth ESG training programs.

I believe that, with the Government's direction, the accompaniment of VCCI-VBCSD, the initiative of businesses, and the cooperation of international partners, we can completely turn the aspiration to rise into substantive actions, making Vietnam a bright spot in sustainable development in the region and the world.

Thank you very much!

Pawalit Ua-Amornwanit, Chief Executive Officer of C.P. Vietnam (CPV) CPV has consistently adhered to its “Three Benefits” philosophy – for the country, for the people, and for the company – turning commitments into concrete actions that deliver tangible and lasting value. The company has embarked on a comprehensive green transformation in its production processes, pioneering the complete elimination of coal and replacing it with renewable energy sources such as solar power and biomass. This move is regarded as a significant step toward reducing carbon emissions and protecting the environment. In parallel, CPV has adopted a circular economy model, converting agricultural by-products into new resources to optimize its value chain and minimize waste. Its transparent traceability system, from farm to table, ensures product quality and food safety, reinforcing consumer trust. In response to the challenge of climate change, CPV has set its sights on achieving zero net emissions. The company has invested in advanced waste treatment technologies and biogas production, both reducing pollution and generating clean energy. These achievements are the result of coordinated efforts across the organization, positioning CPV as one of the pioneers of green transformation in Vietnam. Beyond production, CPV actively engages in community programs in education, healthcare, biodiversity conservation, and sustainable agriculture. These initiatives not only contribute to society but also strengthen CPV’s position as a proactive player in Vietnam’s and the region’s sustainable development journey.   Do Hoang Anh, Head of Legal & External Affairs, British American Tobacco (BAT) East Asia Area In the context of Vietnam's strong commitment to green growth and achieving Net Zero, sustainable development is no longer just a trend but a guiding principle for all businesses. At BAT Vietnam, we see this not merely as a long-term goal, but as a strategic driver that leads all our actions. We believe that a sustainable future is one where business growth goes hand-in-hand with environmental protection, and where value is created in harmony for the company, the community, and society. To turn this vision into reality, we have integrated sustainable development principles into every link of our value chain. From practicing sustainable agriculture in our growing areas and driving low-emission production through energy efficiency and renewable energy, to planting forests to sequester carbon, we are also dedicated to developing our people with a sustainability mindset and promoting ethical and integrity-based business values. We understand that no one can walk this journey alone. That is why BAT Vietnam has actively collaborated with partners to spread practical initiatives that align with the country's overall development direction. The year 2024 marked a proud milestone: for the first time, BAT Vietnam entered the Top 10 Sustainable Businesses in Vietnam in the CSI 100 ranking, after being honored for six consecutive years. Additionally, we were recognized as one of the Top 5 pioneering companies in building and implementing Diversity, Equity, and Inclusion (DEI) policies. These achievements are a clear testament to the tireless effort and consistency of the entire BAT Vietnam team. We view this as a solid foundation to continue expanding our positive impact, constantly innovating, and creating positive values for the community, the environment, and our stakeholders. Sustainable development underpins prosperous, inclusive, and enduring future for all of us. Wietse Mutters, Managing Director of HEINEKEN Vietnam  At HEINEKEN Vietnam, sustainability has always been central to how we brew, promote, and sell our beers – it is the way we run our business and stay close to the local community. Guided by our ambition to “Brew a Better Vietnam”, our sustainability strategy focuses on three areas where we can drive the most impact: the environment, society, and responsible consumption. Amid the complex challenges we face today, sustainability requires bold ambition, long-term commitment, and cross-sector collaboration. That’s why our strategy is rooted in collective actions - with government agencies, NGOs, our suppliers, and local communities. This collaborative spirit has shaped many of our key milestones, from reducing carbon emissions in our production and across our value chain, to achieving our water balance ambition in the Tien River basin 5 years ahead of schedule, and advancing a wide range of responsible consumption initiatives. These achievements were made possible because we worked together. We are proud of our progress. Yet, sustainability is an ongoing process, and as we look into the future, our focus remains clear: to grow with Vietnam in its new era of development. By working together, we will be able to create shared value for the environment, society, and economy; empower people and communities; and accelerate the industry-wide transformation needed for a more sustainable Vietnam.     Le Hoang Minh, Executive Director of Production & Head of the Net Zero Project, Vietnam Dairy Products Joint Stock Company (Vinamilk) Vinamilk began pursuing its goals of greener production and sustainable development as early as 2010. Over the past 15 years, the company’s transition to renewable energy, adoption of cutting-edge technological solutions, data integration, and management under international standards have built a unified and sustainable production ecosystem. In keeping with the “era of AI,” Vinamilk has also been gradually incorporating artificial intelligence into management, enabling accurate demand forecasting and optimized production planning. This approach not only reduces the consumption of raw materials and energy but also lowers production costs, boosts profitability, and enhances competitiveness. Moreover, savings in electricity, packaging, and other resources can be translated into reduced emissions—accelerating our journey toward Net Zero. As part of our green transition roadmap, Vinamilk has established a robust database to accurately measure its carbon footprint, paving the way for targeted emission reduction strategies and transparent, effective sustainability initiatives. We are implementing an ESG and greenhouse gas data management software system across our operations, ensuring real-time data retrieval, trend forecasting, and data integrity and security. The system encompasses 173 ESG data categories, designed to ensure comprehensiveness and alignment with national and international standards such as GRI, CDP, CSI, and VNSI. We continuously apply leading international sustainability standards, including the Global S.L.P and EU Organic certification for our farms, ISO 50001 for energy management, ISO 14064 for greenhouse gas inventories, and PAS 2060:2014 for carbon neutrality—while progressing toward ISO 14068. These efforts not only help Vinamilk advance sustainable development in a methodical and internationally recognized manner but also set positive precedents and best practices for the entire industry.