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Business

Program for Sustainable Enterprises 2019 kicks off

Released at: 15:00, 22/05/2019

Program for Sustainable Enterprises 2019 kicks off

Photo: Ngoc Lan

Program evaluates and announces businesses pursuing and implementing outstanding sustainability strategies.

by Ngoc Lan

The Evaluation and Announcement Program for Sustainable Enterprises 2019 in Vietnam was kicked off by the Vietnam Business Council for Sustainable Development (VBCSD) at the Vietnam Chamber of Commerce and Industry (VCCI) on May 21 in Hanoi.

After three years (2016-2018), the program has encouraged Vietnam’s business community to conduct corporate governance towards sustainable development, especially as the domestic economy is being influenced by digital transformation in Industry 4.0.

The program has received recognition from the government, ministries, and agencies, while receiving the active participation of the business community.

With cooperation from the Ministry of Natural Resources and Environment, the Ministry of Labor, Invalids and Social Affairs, and the Vietnam General Confederation of Labor, and with active support from leading experts in sustainable development, in addition to evaluating and announcing those businesses pursuing and implementing outstanding sustainability strategies, the program also aims to strengthen exchanges and cooperation in sustainable development among businesses and stakeholders, helping to raise awareness about the importance and benefits of sustainable development.

The top 100 were selected from 500 firms participating in the VBCSD’s program ranking the most sustainable businesses based on their corporate sustainability index (CSI). The CSI development group, set up by VBCSD, comprises experts from government agencies, domestic and international non-government organizations, VBCSD members, and independent experts, with the purpose of developing and supporting the application of CSI in Vietnam.

Launched in 2015, the CSI had 131 indicators for enterprises to assess their economic, social, and environmental aspects. In 2019, the CSI was cut from 131 to 98 indicators, of which 90 per cent are legal compliance indicators. Indicators are also grouped more scientifically, updated to meet international practices and domestic laws and to be suitable for more purposes.

VCCI’s General Secretary Nguyen Quang Vinh said that the 2019 version of the CSI is fuller and richer in terms of content, making it useful for all business administrators and investors. The CSI is also the basis for businesses to begin moving towards sustainable development strategies. “It also is the criteria for detailed evaluations of the effectiveness of sustainable development for enterprises,” he added. “At the same time, it is a complete and reliable report for investors on the potential of businesses.”

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