A seminar is scheduled to take place in Hanoi on November 9 to discuss the implementation of commitments on Environmental, Social, and Governance (ESG) components and putting them into action.

The event, to be held by English language daily Viet Nam News, will see the participation of representatives of ministries, sectors and international organisations, economists, and domestic and foreign businesses.

The event will be an occasion for organisations and individuals to be updated with ESG policies, share knowledge about ESG practices, and help build partnerships to contribute to the realisation of the UN Sustainable Development Goals.

The seminar will feature two panel sessions focusing on difficulties and challenges in the practice of ESG in Vietnam. It will also focus on international experiences and recommendations for businesses to better practice ESGs and how to integrate ESG standards into the State policies.

To achieve net zero emissions by 2050 as the Vietnamese Prime Minister committed at the 26th United Nations Climate Change Conference (COP26) in 2021, the country has been implementing various measures and policies to promote economic development. This has to be completed with the efficient use of natural resources and environmental protection, including the encouragement of ESG practices among businesses.

The increasingly popular ESG standards are used to evaluate the efficiency and sustainability of a business or organisation. Not only are businesses paying more attention to ESG to attract foreign investment but users are also selecting products and services of a brand based on that brand’s ESG achievements.

However, businesses are still facing difficulties in integrating ESG policies and criteria into their brand development strategies.

VNA