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VCCI introduces Corporate Sustainability Index

Released at: 15:17, 21/04/2016

VCCI introduces Corporate Sustainability Index

151 sub-indexes used to gauge the sustainability of Vietnamese enterprises.

A Corporate Sustainability Index (CSI) was introduced by the Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi on April 20, to rank the stability of Vietnamese enterprises.

The CSI includes four categories: economy, society, environment, and stability in development and labor strategies.

There are 137 sub-indexes in the three categories of economy, society, and environment, and 14 in stability.

Mr. Nguyen Quang Vinh, Deputy Secretary General of VCCI, said that enterprises in all fields can participate in the rankings. The 100 highest-ranking enterprises will be honored in October at an event held by the Ministry of Labor, Invalids and Social Affairs, the Ministry of Industry and Trade, the Vietnam General Confederation of Labor, and the State Securities Commission.

After creating the CSI, from March 2014 to August 2015, VCCI conducted pilot evaluations of 20 enterprises in the north and south of Vietnam.

The pilot projects showed that one of the positive points of Vietnamese enterprises is their understanding of social responsibility. Applying the CSI is also said to encourage objectivity and honesty among enterprises.

Enterprises were also evaluated as not being good at sustainable development, however.

Ms. Dinh Thi Quynh Van, General Director of PwC Vietnam, said that sustainable development has become a crucial target in the development of every country. She believes that the rankings will encourage an understanding of sustainable development in Vietnam’s business community and encourage green growth in the country.

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