Sustainable business is not just something developed countries pay attention to. It’s something that concerns all economies. The Vietnamese business community needs to change their mindset towards sustainability to integrate and reach into the global value chain, according to Mr. Nguyen Quang Vinh, General Secretary of Vietnam Chamber of Commerce and Industry (VCCI). He made this statement on May 8 at the launching ceremony of the 2018 Corporate Sustainability Assessment Program.
The specific point of the program is to honor the Top 100 sustainable enterprises in 2018 this year. Vietnam Business Council for Sustainable Development (VBCSD) under VCCI will collaborate with experts to set up a sustainable development standard.
As this is the third year of the program, the corporate sustainability index (CSI) will continue to be used as a benchmark to measure the sustainable development level of its participants. CSI is the first index in Vietnam’s sustainability sector and can be applied to all enterprises at every scale and sector.
The CSI comprehensively assesses all of the activities of the company that relate to capital, finance, environment, energy, climate change and labor issues. “When integrating CSI into the sustainability report of the company, its business activities will become transparent,” said Ms. Dao Thuy Ha, Marketing Manager of Traphaco. “The company brings value to its shareholders as well as society. It provides dividends for its shareholders and jobs for people, and also protects the environment and contributes to the maintenance of natural sources.
In addition to honoring the Top 100 sustainable development enterprises, enterprises that achieve the above standards are also recognized as sustainable enterprises. This is the way VCCI encourages the business community to carry out sustainable development. They understand that not being in the Top 100 doesn’t mean that the company is out of the game for sustainable development.
Last year the program attracted the participation of more than 500 enterprises from various sectors throughout the country. The ceremony to honor sustainable enterprises in 2018 is expected to take place in Hanoi this November.