ESG - from strategic concept to operational standard
At the workshop, speakers commented that in the context of increasing pressure from the global value chain and new standards of sustainable development, Vietnamese enterprises, especially small and medium enterprises, are facing an urgent need to adapt, innovate and comprehensively restructure. ESG digital transformation and green finance are no longer distant trends but are becoming prerequisites for survival, development and breakthrough.
Focusing on clarifying the role of ESG for businesses with a vision for rapid and sustainable development, opinions and discussions agreed that this legal framework is increasingly becoming an indispensable evaluation criterion from international financial institutions, export markets and global supply chains.
Experts also emphasized that ESG is being likened to a “green passport” that helps businesses access capital, expand markets and improve competitiveness; at the same time, it guides how to build effective ESG reports, choose appropriate standard frameworks (GRI, SASB, TCFD, etc.); clearly distinguish between ESG - CSR - SDGs so that businesses understand correctly and do correctly.
Digital transformation is the launch pad for ESG strategy
According to experts, digital transformation is not only about digitizing operations but also the foundation for integrating ESG into the business structure. Accordingly, the three directions of digital transformation include: Workflow Automation to reduce errors and save resources; Customer data analysis to improve experience and customize services; Digital platform integrating green finance, connecting with ESG credit and sustainable investment ecosystem.
In addition, design thinking is also considered an innovative approach that helps businesses understand the problem correctly before building a solution. According to experts, common failures in the digital transformation process are analyzed to draw out the core principle: No solution is suitable if it does not start from understanding users and the internal capacity of the business.
In addition, innovative models are illustrated through practical case studies such as QR application in customer identification, digital building energy management, etc., helping businesses create feasible steps forward despite limited resources.
Green Finance - Capital Strategy for Sustainable Development
At the workshop, the issue of green finance was mentioned to help businesses grasp the role of green capital flows in the global context of promoting emission reduction and environmental protection.
According to the representative of AIT Vietnam, the presentations at the workshop are not only expected to help businesses update new management tools, but more importantly, to form a sustainable development mindset, improve access to capital, and enhance competitiveness in the global environment.
Since 2011, when cooperating with IFC, VietinBank has gradually integrated ESG principles into its operations, governance and product design. Green financial solutions such as the VND5,000 billion Green Up preferential credit package or the Green Deposit product are not only proof of the bank's commitment to sustainable development, but also open up opportunities for the business community to access green capital.
VietinBank also developed a Sustainable Finance Framework to provide specific guidelines for the bank's financing and management of sustainable development financing. VietinBank's Sustainable Finance Framework was rated by an independent second party - Morningstar Sustainalytics as "credible and impactful" for sustainable development.
In addition, VietinBank is building a comprehensive ESG ecosystem, supporting businesses not only in terms of capital but also in consulting and technical solutions, and is a pioneer bank in implementing green credit policies in line with the orientation of the Government and the State Bank. VietinBank was also honored as a typical bank in green credit by the International Data Group IDG.
Bich Dao
Source: https://vietnamnet.vn/giai-phap-phat-trien-ben-vung-cho-doanh-nghiep-trong-ky-nguyen-moi-2416680.html
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