(KTSG Online) – Sustainable development linked to ESG (Environmental – Social – Governance) practices is a strong global trend. However, in Vietnam, many businesses still do not understand where to start with ESG, how to implement it, which organizations certify it, and whether it truly benefits businesses or is merely a “game” for financially capable companies.
These issues were partially addressed at the launch of the Brand Creation Club and the seminar “Perspectives and Approaches to ESG for Businesses” held on April 16 at the Saigon Times Magazine headquarters in Ho Chi Minh City.
“Wherever there is a sense of responsibility, there is the beginning of ESG,” shared Mr. Võ Minh Nhựt, Head of the Brand Creation Club and General Director of NS Bluescope Vietnam, at the event.
This event was organized by the Branding Club, which is a part of the Saigon Times Club, in collaboration with Phuong Nam Panel and Sagen Construction Design Consulting Company.
Mr. Võ Minh Nhựt, Head of the Brand Creation Club, General Director of NS Bluescope Vietnam, and Ms. Nguyễn Dương Trúc Linh, Marketing Director of PNP, presented the certificate to the representative of Phuong Nam Panel
Many entrepreneurs and experts also echoed Mr. Nhựt’s viewpoint, stating that ESG is not a new trend, but in Vietnam, it is still in its early stages. Therefore, many companies are interested in how to successfully implement these standards and benefit their business operations.
According to Mr. Nguyễn Hoàng Nam, Deputy General Director of PwC Vietnam, it is challenging to find a single answer that meets all business requirements.
With experience advising numerous large companies on ESG practices, he emphasized that training and communication about ESG are crucial for success. The understanding that ESG must be practiced should be conveyed to all personnel within the organization. Next, companies need a team to perform specific tasks with close direction and oversight from senior leadership.
“When developing an ESG practice plan, companies need to consider harmonizing with the national and business context, and more importantly, the expectations of their partners. In reality, practicing ESG is not about doing what businesses want, but fulfilling what partners expect from them,” he said.
Entrepreneurs and experts share insights at the seminar "Perspectives and Approaches to ESG for Businesses." Photo: Minh Anh
Many entrepreneurs expressed concerns about why companies should practice ESG during difficult times when it adds responsibilities and costs. Mr. Đỗ Hữu Nhật Quang, Director of Green Viet Consulting Company, believes that in his company and many others, practicing ESG is viewed as an investment rather than a cost.
“There are many examples proving this. For instance, creating a good working environment and caring for employees not only benefits the company by developing its team but also reduces costs,” he said.
However, this expert also mentioned that although ESG brings many benefits, persuading companies to practice ESG is a long and complex process.
Sharing the same viewpoint, Mr. Nam from PwC Vietnam stated that practicing ESG requires significant costs such as consulting fees, planning, and team building. This causes hesitation among many companies, but in the long run, these costs open up new growth opportunities.
“This is truly an investment cost, and it presents opportunities for market expansion, business growth, and risk management,” Mr. Nam said.
On the sidelines of the seminar, Mr. Nguyễn Thành Tân, General Director of SAGEN Construction Design Consulting Company, stated that investing in ESG practices depends not only on financial resources but also on the company's culture, vision, and mission. However, this is not merely a “game” for large companies.
“Small businesses can still implement ESG. When a company is committed to serving people and society and takes action, money will come naturally as a result,” Mr. Tân shared.
During the seminar, Mr. Nguyễn Đình Sáu, Advisor and Head of the Supervisory Board of Phuong Nam Panel, mentioned that the company has been practicing ESG for four years. The goal is to complete the G - Governance pillar by the end of 2025. From the outset, the company has defined its principle as being socially responsible in production and adhering to business ethics, making it easier to implement ESG criteria.
Mr. Nguyễn Đình Sáu, Advisor and Head of the Supervisory Board of Phuong Nam Panel, shared at the seminar
“Phuong Nam Panel aspires to bring ‘made in Vietnam’ products of international quality to friends around the world. Therefore, PNP products have made significant impressions in Southeast Asia and countries in Europe, the U.S., Australia, Japan, and South Korea, known for their high-end and discerning markets. After 32 years of growth, along with the progressive launch of T*ROCK each year, PNP is confident in overcoming new challenges and believes that efforts to serve customers are also a process of perfecting PNP's people for the present and the future.
At PNP, our business philosophy is to instill a strong belief in sustainable development goals, ultimately leaving a legacy for future generations to preserve a #green #clean #sustainable world, committed to #ESG responsibilities regarding the environment, society, and corporate governance. I believe the G factor “Governance” is still the core element; good planning, direction, and execution of G “governance” will lead to benefits for E “environment” and S “society” in a proportionate manner.
ESG has been integrated into our lives since the early days of researching the pre-feasibility project for investing in a high-tech factory through a breakthrough shift from traditional manufacturing to modern technology manufacturing entirely with 100% German Hennecke machinery and achieving LEED GOLD certification from the U.S. Specifically, PNP focuses on environmental factors in design, construction, and operation to enhance quality of life; designs must be suitable for environmental and climate changes; utilize natural resources such as solar energy, fresh air convection, water, and other resources; implement pollution reduction solutions, reuse products to ensure air quality in internal and external working environments; use non-toxic and sustainable materials"
Ms. Nguyễn Dương Trúc Linh - Marketing Director of PNP further shared on the sidelines of the seminar that G “Governance” remains the core element/pillar in the ESG framework
Meanwhile, many entrepreneurs expressed that while they very much want to practice ESG to build a brand on a foundation of sustainable development, they face significant financial and human resource challenges.
According to some experts, this can be addressed by starting with small actions, investing in stages, and gradually meeting ESG criteria instead of trying to do everything at once.
Mr. Võ Minh Nhựt, General Director of NS BlueScope Vietnam, emphasized that the critical issue in practicing ESG is a sense of responsibility. Regardless of the scale, if company leadership guides the unit to practice ESG with responsibility rather than for profit, it will result in the appreciation and companionship of employees with the company. “That is an immeasurable value of ESG practices,” he said.
At the event on the morning of April 16, the Brand Creation Club was officially launched, welcoming new members and adding Mr. Nguyễn Cao Trí, General Director of Ariston Vietnam Co., Ltd., to the executive committee.
Thus, the executive committee currently has eight members, individuals, and businesses from various fields.
Among them, Mr. Võ Minh Nhựt, General Director of NS BlueScope Vietnam Co., Ltd., serves as the club’s head; with the following vice heads:
The executive committee of the Brand Creation Club was launched on the morning of April 16
The Brand Creation Club was established in December 2023. The club aims to connect, share, and inspire creativity among entrepreneurs to create brands through practicing ESG and sustainably developing in a steadfast and ethical manner. Through this, entrepreneurs can reshape the perception of Vietnamese brands in the eyes of consumers and cultivate genuine and distinctive values for the business community in Vietnam.
Source:: thesaigontimes.vn
