The 14th Annual Global CSR & ESG Summit & Awards 2022, with the theme “Beyond Net Zero & ESG” and held on November 3 and 4 in Hanoi, focused on how the challenges of today will inevitably quicken the pace of climate friendly solutions and technologies being adopted, including electric vehicles, high-tech farming, sustainable supply chains, and nature-based solutions.

Speakers said that, in 2021, when the world was focused on overcoming the Covid-19 pandemic, new challenges emerged on the economic and geopolitical fronts, with global inflation and the Russia - Ukraine conflict threatening to derail the much-anticipated recovery needed to alleviate the tremendous hardship faced by communities affected by the pandemic.

On the environmental front, following the release of the Intergovernmental Panel on Climate Change (IPCC) and the COP26 climate conference in Glasgow, 2022 was set to be a critical year for climate change. At the landmark event, governments and businesses committed to ambitious plans to decarbonize. The real challenge remains the extent to which these pledges will be fulfilled.

Fortunately, several positive developments have emerged, with many companies adopting net-zero targets on top of increased regulatory requirements around the world seeking mandatory disclosure on climate risks.

Increased regulations will push companies to focus on the social factor in ESG (environment, social, governance). Companies will come to realize that in order to meet the environmental targets set at COP26, they will have to work closely with local communities and farmers, including with vendors in their supply chains, as climate issues are intricately linked to myriad stakeholders and systems.

The climate change situation today has also created immediate existential issues for the human race in terms of food security. The World Bank recently announced that overfishing is among the biggest challenges threatening the health of the world’s oceans, the livelihoods of millions living in coastal communities, and the seafood and related industries, not to mention the threat to food sufficiency for the human race.

At the event, leaders from various industries shared some of the most innovative ideas for environmental protection, community empowerment, gender equality and workplace diversity, supply chain transparency, corporate transparency, brand activism, and technology for social good.

Comments at the conference also said that promoting awareness about ESG and having pioneering businesses to create change is essential. At the same time, there should be policies to encourage close cooperation between businesses, between businesses and governments, and between local communities.

Mr. Tran Minh Hoang, Vinamilk Category Marketing Director, told the gathering that sustainable development is a trend around the world and is also a long-term development path for Vinamilk. It recently invested in building the Vinamilk Green Farm, a model for sustainable dairy farm development adapting to local natural conditions with regenerative farming techniques. It has also given due regard to the circular economy, regenerative agriculture, and applying technology to reduce the environmental impact, regenerate resources, reduce emissions, and protect ecosystems.