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How do you assess the current efforts of Vietnamese businesses in green transformation actions towards the Net Zero target?

Recently, many provinces and cities in the North were hit severely by the biggest storm in the past 30 years. In the future, such extreme climate phenomena can still occur due to the impact of climate change. The Net Zero target by 2050 therefore becomes a close story, a must-do and requires stronger action for the business community.

Currently, Vietnamese enterprises have significantly raised awareness of sustainable development and green transformation compared to the period 5-10 years ago. In particular, leading enterprises have been pioneering strong investment in sustainable business, catching up with the global trend towards the goal of Net Zero 2050. For example, among members of VBCSD-VCCI, the message of green growth and green transformation has been widely spread not only within the company but also to partners in the value chain. Typical enterprises such as Vinamilk, Greenfeed, Traphaco, PAN Group, Nestlé Vietnam, Coca-Cola Vietnam, Unilever Vietnam... are implementing many clean green production models, low emissions, bringing circular elements deep into the production chain, while creating sustainable livelihoods for disadvantaged communities through inclusive business models...

However, in general, the business community still has many challenges for businesses in green transformation. As shown by the report "Readiness and difficulties of businesses in green transformation" targeted in 2,734 businesses by the Private Economic Development Research Board (Board IV), submitted to the Government at the end of July, on the roadmap to reduce emissions and green transformation, three dominant challenges faced by Vietnamese enterprises are: capital for implementation, specialized personnel and specific, suitable technical solutions...

What efforts have functional agencies such as VCCI made to support businesses in green transformation and sustainable development, sir?

VCCI has coordinated with many ministries and sectors to closely accompany businesses, not only creating forums for exchange and dialogue but also sharing and providing experiences on sustainable development models for businesses to learn and find the most suitable model.

VCCI has also built and published a set of indicators to promote sustainable transformation towards different partners. For example, the Provincial Green Index (PGI) to encourage provinces and cities in Vietnam to pay more attention to economic development associated with environmental protection; or the Corporate Sustainability Index (CSI) to encourage the business community to implement sustainable corporate governance, thereby improving the competitiveness of businesses themselves and transforming to responsible business.

Currently, VCCI, through the focal point VBCSD, is also coordinating with IDH Vietnam to implement the Initiative to promote sustainable industrial parks in Vietnam, including building and disseminating the Sustainable Industrial Park Index (SIP Index).

Along with the above support, in your opinion, how should businesses be proactive and coordinate to achieve the set goals?

The efforts of VCCI or any organization will not be able to reach the destination without the companionship of businesses with a strong commitment to sustainable development. Accordingly, businesses themselves can create positive impacts on consumption trends, create sustainable livelihoods for the community, conserve biodiversity and environmental resources with "natural" business models, or support other businesses in their value chain.

In addition, towards Net Zero, enterprises not only need to research but also need to practice production and business activities to reduce emissions, protect the environment, pay attention to sustainable governance. Furthermore, they should strengthen the commitment of participants, the board of directors in building and implementing sustainable development strategies as well as investing in developing human capital in enterprises and the social community.

Thank you very much!