This week, the Nordic Embassy in Vietnam (including Denmark, Finland, Norway and Sweden) cooperated with the Ho Chi Minh National Academy of Politics to organize a scientific seminar: "Environment, Society and Governance (ESG) - Business model for sustainable development".
Since 2018, Nordic Ambassadors to Vietnam have cooperated with the Ho Chi Minh National Academy of Politics on the occasion of Nordic Day, March 23, with the aim of sharing experiences from Nordic countries on practical issues for Vietnam. This is the 4th time the event has been held.
The purpose of this event is to share good practices and experiences of Nordic countries, especially interaction mechanisms between the Government and businesses, people about ESG and how this has a positive impact on current Nordic societies.
Associate Professor, Dr. Le Van Loi - Deputy Director of the Ho Chi Minh National Academy of Politics affirmed: "The leadership, governance and development experience of Nordic countries in this field is very useful for Vietnam in the current context".
In the joint statement, the Nordic Ambassadors to Vietnam emphasized: In general, ESG (or Environment, Society and Governance) is the consideration of environmental, social and governance factors in the process of making investment decisions. This phrase is often used to replace sustainable investment, responsible investment to society and social responsibility of enterprises. These principles can also be applied in the public sector of the government due to the important contribution of this sector to the sustainable economic recovery after the COVID-19 pandemic.
It should also be noted that high-quality FDI will require developing economies to focus on complying with ESG principles. Moreover, in a globalized economy, the rights and role of consumers are increasingly important and today's consumers strictly require products manufactured in countries that value ESG, the statement added.
At the seminar, Ms. Hilde Nordbø - Head of Sustainable Development, Handelsbankbank (Na Uy) said: "For businesses, a strategic approach and ESG integration in operations are very important to create sustainable values and bring profits".
Meanwhile, Mr. Thomas Bo Pedersen - CEO of Mascot (denmark) revealed: "The ESG approach is thoroughly applied at all levels at our enterprise as well as wherever we work - Vietnam, Laos, Europe or other places".
He added: We must always be ready to provide specific evidence of how our businesses have achieved ESG goals so that our colleagues, customers and society can clearly see how we comply with our commitments to become a green and responsible business to society.
