Participants at the workshop. VNS Photo

Vũ Hoa

SÓC TRĂNG — As Environmental, Social and Governance (ESG) practices increasingly become essential for businesses to meet their sustainability goals, there is a growing recognition of the importance of social and governance factors.

This information was released at a workshop themed 'Creating positive social value through enhancing women's economic empowerment' held in the Mekong Delta province of Sóc Trăng on Thursday.

While environmental issues have long been the focus, businesses are now placing greater emphasis on promoting social wellbeing and sound governance practices. This shift is not just about ensuring sustainability, but also about contributing positively to the community. Raising awareness about sustainable development is crucial, not only for businesses but also for media agencies, which play a pivotal role in disseminating this information to the public.

Director of the Office for Business Sustainable Development Nguyễn Tiến Huy said integrating the social factor into ESG strategies plays a crucial role. By doing so, businesses not only promote social good but also gain financial and non-financial rewards. The Việt Nam Business Council for Sustainable Development (VBCSD) and the Việt Nam Chamber of Commerce and Industry (VCCI) have long championed the inclusion of social factors such as diversity, equality and inclusion (DEI) in corporate governance. Through the Corporate Sustainability Index (CSI), the VCCI encourages businesses to prioritise these values, rewarding companies that demonstrate leadership in these areas.

For years, VCCI has integrated topics like enhancing women's economic empowerment and building social capital into its discussions at the Việt Nam Corporate Sustainability Forum (VCSF). These topics are critical in shaping the country’s sustainable development.

Exploring the empowering partnership between Nestlé Vietnam and the Việt Nam Women's Union, which is helping women build sustainable livelihoods through the 'Cooking a Career with Maggi' programme in Mỹ Tú District, Sóc Trăng Province. VNS Photo

Huy commended Nestlé Vietnam for its ongoing efforts to empower women, especially through its 'Nestlé accompanies women' programme. This initiative has made significant strides in improving women’s economic independence, gender equality and overall quality of life, thus contributing to the nation’s sustainable development goals.

Trương Thị Thu Thủy, Member of the Presidium and Head of the Family-Social Committee of the Việt Nam Women's Union, highlighted the Union’s pivotal role in advocating for gender equality and women's empowerment.

“Programmes like 'Nestlé accompanies women', which provide women with essential skills to navigate the digital landscape, improve their incomes and enhance their family’s well-being, are important. This collaboration is closely aligned with national initiatives, including the 'Building Vietnamese women of the new era' movement and the campaign 'Building a family of 5 Nos and 3 Cleans', which aim to improve knowledge, health and sustainable livelihoods for women and families,” she said.

By empowering women, particularly in rural areas, these programmes not only contribute to social equity but also help businesses fulfil their ESG commitments, creating a cycle of positive social impact that benefits both individuals and communities. This year’s training programme is a testament to the collective effort to foster an environment where businesses and media work together to empower women and advance sustainable development.

As one of the 18 provinces and cities participating in the 'Nestlé accompanies women' initiative, a collaboration between Nestlé Vietnam and the Việt Nam Women's Union, Sóc Trăng has seen remarkable positive outcomes.

Trần Thị Kim Phượng, Vice President of the Sóc Trăng Provincial Women's Union, said: "Through the implementation of the 'Nestlé accompanies women' programme, the Nest Sisters have gained valuable knowledge about nutrition, information technology and have gained the opportunity to access and start businesses. As a result, they now have a stable source of income, earning an average of VNĐ1 million to VNĐ2.5 million per month. This has greatly contributed to improving the quality of life for the participants, their families and the local community."

Nestlé has committed to ESG practices and sustainable development, launching specific programmes to bring these commitments to life.

Khuất Quang Hưng, Director of External Affairs and Communications at Nestlé Vietnam, said: "With a shared value approach, Nestlé Vietnam integrates its business goals with the development and prosperity of the community. Over nearly three decades of operating in Việt Nam, we have continuously worked to empower women, particularly by enhancing their roles throughout the value chain. Through our partnership with the Việt Nam Women's Union, we aim to positively impact the lives and status of Vietnamese women, contributing to the broader goals of gender equality and promoting diversity, equality and inclusion in Việt Nam."

Phạm Hoàng Hải, Head of Partnerships at the VBCSD-VCCI Secretariat, clarified the distinctions between Creating Shared Value (CSV), Corporate Social Responsibility (CSR) and ESG practices. He explained that CSR primarily focuses on philanthropic efforts or regulatory compliance, whereas ESG centres on corporate governance, risk management and enhancing accountability to shareholders and investors. In contrast, the CSV model integrates social value into the core business activities of the company.

Hải also pointed out that while the CSV model promotes principles like redefining products and markets, restructuring value chains, and developing local industry clusters, its implementation in Việt Nam faces challenges like limited awareness, infrastructure, resources and an unclear policy framework. To address these challenges, he recommended strengthening communication to raise awareness of CSV within the business community, developing supportive government policies and fostering public-private partnerships to replicate the CSV model in the future.

The training session attracted over 30 delegates from leading media agencies nationwide. During the programme, media representatives visited Sóc Trăng Province to observe the 'Nestlé accompanies women' initiative and noted its positive outcomes. Since its launch in December 2020, the initiative has had a significant impact, especially in rural areas. Thousands of women have gained essential knowledge and skills, improving both their work efficiency and family health management. 

The programme has also fostered a community of women who are more confident and proactive in both their professional and personal lives. VNS