Trần Hậu Ngọc, Vice Chairman of the State Commission for Standards, Metrology and Quality. — Photo courtesy of STAMEQ

ĐÀ NẴNG — Experts at an APEC workshop discussed how businesses can turn environmental, social and governance (ESG) commitments into practical action while contributing to sustainable development.

At the workshop, titled ‘Driving Business toward ESG and the SDGs’, participants called for stronger links between ESG goals, standards and conformity assessment to support sustainable business development.

Organised by the State Commission for Standards, Metrology and Quality (STAMEQ), the workshop brought together experts and delegates from several APEC economies, including Malaysia, Indonesia, the Philippines, Thailand, Peru and Papua New Guinea. Representatives of international organisations, regulatory agencies, research institutes, universities and businesses also attended.

Trần Hậu Ngọc, Vice Chairman of STAMEQ, said ESG was increasingly linked to market access, attracting investment, supply chains and long-term competitiveness.

The challenge now was to turn ESG commitments into action and broad principles into management tools that businesses could apply, measure and verify, particularly micro, small and medium-sized enterprises (MSMEs), he said.

Việt Nam’s initiative focuses on using standards, conformity assessment and quality infrastructure to turn ESG goals into practical tools for businesses. The approach aims to improve transparency and reliability while helping businesses meet the requirements of global markets and supply chains.

Participants discussed the links between ESG, trade and sustainable development, as well as the role of standards and conformity assessment. They also examined international ESG frameworks and tools, and ways to integrate ESG into corporate governance, operations, supply chains, information disclosure and business strategies.

The challenges MSMEs face in adopting international ESG frameworks were a key focus. These include limited resources, data and specialist expertise, as well as the cost of compliance.

Through group work and discussions with experts, participants identified barriers and proposed ways to reduce compliance costs, improve management capacity and help businesses take a greater role in sustainable value chains.

The workshop was proposed by Việt Nam under the APEC Sub-Committee on Standards and Conformance (SCSC), with Australia, Canada, Chile, China and Singapore as co-sponsors.

Through initiatives on ESG, standards and sustainable development, Việt Nam is strengthening its participation in the SCSC and linking domestic priorities with regional efforts on green transformation, sustainable supply chains and business competitiveness.

The co-sponsorship and participation of several economies reflect shared regional interest in ESG and the role of standards in the green transition. — VNS