The eighth international conference, themed “Corporate Social Responsibility and Sustainable Development” (CSR 2025), aimed to promote businesses to embrace ESG standards in HCM City on June 16. — VNA/VNS Photo

HCM CITY — Facing global environmental concerns, businesses need to shift focus from solely profit to more responsible products and effective services, experts said at a conference in HCM City on June 16.

The two-day conference, themed “Corporate Social Responsibility and Sustainable Development” (CSR 2025), is co-organised by the Southern Institute of Social Sciences and India’s Education Research and Development Association, and the University of Finance-Marketing.

According to experts at the conference, admist global challenges on climate change, environmental protection, pollution and waste management, the role of corporations in promoting social causes and ethical business practices is becoming increasingly important.

The event aimed to encourage businesses to embrace ESG (Environmental, social and governance) standards in their policies and activities, while also serving as a platform to address global issues like climate change and resource use to improve ESG for businesses and society.

Academics and representatives from government agencies and non-government organisations discussed the latest researches in CSR and sustainable business practices, materials and technologies, as well as tackling climate change.

They also touched on the importance of charity activities, business ethics and social impacts, and discussed how global CSR issues are being tackled.

The event attracted nearly 200 scientific papers and over 150 domestic and international participants from India, Indonesia, Malaysia and other countries, with key topics including corporate governance in the digital age, environmental responsibility, climate action, social impact, and sustainable business models.

Associate Professor, Dr. Vũ Tuấn Hưng, rector of the Southern Institute of Social Sciences, said that discussions at the conference will open up new research avenues and facilitate interdisciplinary and international co-operations.

Associate Professor Rajkishore Nayak from RMIT University Vietnam said that extended producer responsibility (EPR) is an environmental policy that holds producers responsible for a product's entire lifecycle. 

EPR helps reduce waste and promote a circular economy and is mandated by Việt Nam's laws on environmental protection, such as the Law on Environmental Protection 2022 and Decree 08/2022/NĐ-CP which stipulate businesses’ obligation to recycle or make financial contributions to the Environmental Protection Fund.

Việt Nam's largest export sector, textiles, faces growing production and consumer waste issues, for which EPR can help alleviate through sustainable design, waste management and conservation of natural resources.

However, smaller businesses struggle to apply it due to financial constraints, a lack of infrastructure, and low awareness, which is why it requires government support and public awareness for effective implementation. — VNS