PwC Vietnam worked with the VNU Industry Collaboration Hub (VIC) at the Vietnam National University (VNU) to hold a conference on September 19 between universities and businesses regarding environmental, social, governance (ESG) practices and the Climate Finance Accelerator (CFA) program in Vietnam.

Analysts noted that ESG has become a strategic and pressing global trend for most businesses, directly affecting long-term sustainable development. Vietnam has also committed to reach net-zero emissions by 2050, and this requires the country turning commitment into action, assisting authorities at all levels to develop policies and laws related to the environment and helping businesses join hands to realize national commitments.

Understanding ESG and building a roadmap for implementation at businesses is therefore important. “Social responsibility is not simply a legal responsibility but also an indispensable part of a sustainable business strategy, bringing value to both businesses and society,” said Mr. Truong Viet Ha, Director of the Human Resource Development Center (HDC) at VNU.

According to PwC Vietnam, the majority of businesses in Vietnam have committed or plan to commit to ESG, with 80 per cent committing to some degree of action within the next two to four years. However, there are still some businesses facing difficulties in realizing their ESG commitments, 60 per cent of which are small and medium-sized enterprises (SMEs).

Mr. Pham Anh Duy, Senior Manager of Capital Projects and Infrastructure at PwC Vietnam, noted that actively promoting the ESG revolution, boosting ESG practices in green energy transition, and transforming towards sustainable development with ESG, among other measures, play key roles in implementing ESG goals in Vietnam. “Businesses need to have more specific goals in implementing their ESG-related activities,” he added.

In terms of ESG training at universities, Ms. Dinh Thi Quynh Van, Chairwoman of PwC Vietnam, said VNU has actively participated and made an important contribution to Vietnam’s innovation network through missions such as providing highly-qualified human resources, bolstering progress in the field of science and technology, and transferring knowledge and new technology, providing skills and knowledge for entrepreneurship and innovation. And she hopes that PwC will cooperate extensively with the HDC through a series of professional seminars to help lecturers and students at VNU move closer to ESG and apply it within VNU.