Vietnamese businesses urged to achieve sustainable development goals

Nature-related policies should be integrated into business strategies and plans, said Deputy Prime Minister Tran Hong Ha at the 10th Vietnam Corporate Sustainability Forum in Hanoi on August 23.

To contribute to achieving sustainable development goals (SDGs) and fulfilling Vietnam's relevant commitments, more investments should be made in nature-based solutions to enhance ecosystem services, reduce greenhouse gas emissions, increase resilience to climate change, and create new opportunities for innovation and growth, he said.

Apart from big firms, small-and medium-sized enterprises, which are considered the backbone of the national economy, should play a role in sustainable development, the Deputy PM stressed.

He suggested domestic enterprises study and put in place regulations and criteria for sustainable development, promote the environmental, social, and governance (ESG) practice in business administration, join environmental protection efforts, and optimise achievements of the Fourth Industrial Revolution and digital transformation to serve sustainable development.

The Deputy PM also affirmed the Government’s strong commitment to building a favourable legal environment for businesses to complete the SDGs.

With a strategic vision, the Party and the State have identified policies and roadmaps to perfect mechanisms, policies and laws on green economy, low-carbon economy and circular economy towards net zero emissions, he stressed.

The Government always listens to opinions of the business community and focuses on policies and pilot models for the Just Energy Transition Partnership (JETP) in an effort to create an “ecosystem” of the renewable energy industry.

 

The Government will issue more mechanisms and policies on enhancing green economy and circular economy, and supporting businesses in technology transformation and research and development centre building, while promoting personnel training with new mindset of taking people as the subject, centre, momentum and resources of development, he said.

Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) and Chairman of the Vietnam Business Council for Sustainable Development (VBCSD) Nguyen Quang Vinh provided updates on global sustainable business trends.

He stressed that the success of businesses should include their adaptation, resilience and recovery amid unprecedented challenges, as well as sustainable interests of the community, the society and the environment.

Vinh also suggested businesses change value and supply chains towards sustainability.

The forum, jointly held by the VCCI and VBCSD, brought together more than 300 delegates, who discussed such issues as the circular economy, low carbon emissions, green supply chain, biodiversity preservation, and sustainable energy transition, among others./.