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Enhance application of environmental, social and governance criteria in business

Currently, Environmental, Social and Governance (ESG) criteria have become the deciding factor for the  world’s top investors. Therefore, business investment decisions are highly dependent on the outcome of assessing how businesses address issues related to ESG. This criteria requires investors and invested companies to redefine risks in terms of traditional business models as well as opportunities to create sustainable added value in the future.

Through the gereous support of the UK Prosperity Fund to ASEAN under the Economic Reform Programme within the UNDP Regional Project “Promoting a Fair Business Environment in ASEAN”, the Vietnam Chamber of Commerce and Industry (VCCI), UNDP Vietnam in collaboration with Vietnam Association of Consumer Goods Development (VACOD) co-organized an online training workshop titled “Incorporation of Environmental, Social and Governance criteria in business” on November 24th in Hanoi.

At the program, Mrs. Diana Torres, Assistant Resident Representative of UNDP Vietnam emphasized in the opening speech that ethical business practices and responsibility to the community, environment, society are increasingly important to improve transparent corporate governance and legal compliance. Following this, Mrs. Dinh Thi Bich Xuan, Deputy Director General of Office for Business Sustainable Development, VCCI also highlighted that the training course aimed to support businesses to promote business integrity in general and futhermore raise better awareness of appropriate approach to ESG advanced practices. The training course was delivered by experienced experts from PwC Vietnam who have deep knowledge in risk management, internal control and international finance.

The course was successfully organized with active participation of 200 delegates including representatives from British Embassy in Hanoi, UNDP Vietnam, VCCI and participants from businesses, middle  level managers, legal officers, human resources, internal audit, account-finance officers…The majority of businesses evaluated that the training content is practical, provided fundamental knowledge on methods of assessing business situations in relation to sustainable development and guided businesses to meet ESG reporting requirements and information disclosure.

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