Local firms can compete based on sustainability

May 27, 2020 - 08:43

Local firms are called on to join the fifth programme evaluating and honouring sustainable businesses in Việt Nam on Tuesday in Hà Nội.


Chairman of VCCI, Vũ Tiến Lộc gives speech at the launching of the fifth programme evaluating and honouring sustainable businesses in Hà Nội — Photo qdnd

HÀ NỘI — Local firms are called on to join the fifth programme evaluating and honouring sustainable businesses in Việt Nam on Tuesday in Hà Nội.

Co-hosted by the Việt Nam Chamber of Commerce and Industry (VCCI) and the Việt Nam Business Council for Sustainable Development (VBCSD-VCCI) under the direction of the Government directive, the Sustainable Business Index (CSI) continues to be used as a basis for assessing the sustainable development of businesses in the programme.

The programme will receive applications from firms of all sizes and industries across the country via offline and online submissions for free. Businesses participating in the programme will declare their information according to the CSI 2020 with 127 indicators in four areas of sustainable development performance index, governance index, environmental index and labour index.

The CSI 2020 has been researched and updated by the VBCSD-VCCI and experts in socio-economic fields to comply with requirements from important free trade agreements (FTAs) that the country has signed recently as well as important changes in labour and environmental management policies that have affected the operations of the business.

Chairman of VCCI, Vũ Tiến Lộc said: "The programme is not only a contest for marking and awarding the most sustainable firms, but also to change mindsets. Instead of doing business just "for quick profit", the firms will need to think about being a ‘humane business with economic benefits in harmony with social development and environmental protection in the long term.’”

He added: “CSI does not include 127 indicators, it is a very scientific and effective business management tool built specifically for Vietnamese businesses, especially the small and medium-sized ones. CSI helps businesses specify the roadmap for sustainable development, answering the questions of how to become sustainable businesses.”

The programme, which is jointly implemented by VCCI-VBCSD and the Ministry of Labour, War Invalids and Social Affairs, the Ministry of Natural Resources and Environment, and the Vietnam General Confederation of Labour.

Deadline for applications is August 15.

According to the organisers, more than 1,500 businesses participated over the last four years and 300 businesses were evaluated as sustainable businesses. — VNS