On December 3, the workshop “Sustainability – A Business Proposition” was co-hosted by Vietnam Business Council for Sustainable Development (VBCSD), Vietnam Chamber of Commerce and Industry ( VCCI), and World Wildlife Fund (WWF)-Vietnam in Ho Chi Minh City. As many as 100 of Vietnam’s leading enterprises explored together the actionable recommendations to benefit both their business operations and the community, through strategic investment in green growth.
Corporate Social Responsibility or business development? Doing good or doing well? Vietnam’s leading enterprises are called to action in meeting both needs with one deed.
At the workshop, WWF-Vietnam in partnership with VBCSD discussed strategic vision and practical approaches for Vietnam’s leading enterprises to develop sustainable growth with contribution to society. While 63 percent of Vietnam’s companies do not have a thorough understanding on sustainability reporting, according to a recent survey by VBCSD, the need for them to have a vision and then implement sustainability programmes has increased in the new era of a more diversified and globalized market.
Water stewardship and sustainable supply chains, amongst other various potential areas for corporate engagement mentioned in WWF’s discussion, gained special interest from the companies during the workshop.
“Vietnam’s growth strategy in recent years has placed a critical emphasis in the integration of business productivity and sustainability, expanding the goal further than just developing a profiting economy,” said Nguyen Quang Vinh, General Secretary of VBCSD cum Director of the Office for Business Sustainable Development (SD4B), VCCI. “Companies in Vietnam therefore need to adapt accordingly to drive their business forward.”
Aligning business strategy with the implementation of social responsibility, including environmental protection, is an essential step for such adaptation, requiring a coherent incorporation of sustainability into business operations.
“The model of corporate and NGO partnership, for example, creates opportunities for both parties to join efforts, expertise and resources in their attempts to benefit the community at large” said Dr Van Ngoc Thinh, Country Director, WWF-Vietnam. “This strategic collaboration would not only help to protect the planet that we live in, but also ensure the business’s long-term benefits and enhance their brand image by being a responsible company.”
In the current context of natural resources depletion and climate change, consumers put an even greater pressure in requiring companies to be socially and environmentally responsible. As a result, old business practices will soon be insufficient in standing up to new challenges and risks.
“Consumers worldwide and increasingly in Vietnam want businesses to place at least equal weight on society’s interests as its business interests, and to do more for the communities they impact and pursue socially responsible initiatives. Companies need to build social equity into their brands, from product innovation, to employee engagement to marketing communications in order to engage and move closer to the consumers.” said Bui Ngoc Anh, Managing Director for AVC Edelman, the content contributor for workshop.
At the workshop, Mr Tran Quoc Huan, Deputy General Director, FrieslandCampina Vietnam, presented the diverse aspects of business operations in which companies could achieve sustainability with practical advice for actions, with examples from the company’s programmes in developing dairy sector and “Firefly light” to support education for children in need. Mr Nguyen Xuan Thang, General Manager of Grundfos Vietnam, explored the business opportunity in sustainable development strategy, such as incorporating sustainability into product development. Mr Lam Quang Huy, Deputy Director of Sales and Marketing at Saigon Tourist, shared on the increasing requirement from consumers for companies to be more sustainable and socially responsible, and valuable examples from the 39 years of Saigon Tourist’s sustainability implementation with each year’s results better than the last.
The workshop’s proposals of diverse and efficient solutions for sustainable growth emphasized the tremendous return on corporations’ investment in green growth and, as a result, their increasing competitive advantage in Vietnam’s rapidly changing market.
Huong Giang
Vietnamese
