Business

Sustainability - lodestar for business development

Sustainable development should be put at the core of enterprises’ business strategy if they want to integrate into and rise higher in the global value chains, said General Secretary of the Vietnam Chamber of Commerce and industry (VCCI) Nguyen Quang Vinh.
Sustainability - lodestar for business development ảnh 1At the ceremony to launch annual programme ranking the most sustainable businesses in Vietnam in 2018 (Photo: VNA)

Hanoi (VNA) – Sustainable development should be put at the core ofenterprises’ business strategy if they want to integrate into and rise higherin the global value chains, said General Secretary of the Vietnam Chamber ofCommerce and Industry (VCCI) Nguyen Quang Vinh.

He made the remark at the ceremony held in Hanoi on May 8 to launch the annual programmeranking the most sustainable businesses in Vietnam in 2018.

Balancing sustainability with economic development is no longer an issue forindustrialised and wealthy countries alone, but is a critical concern for alleconomies, Vinh said, noting that Vietnamese businesses need to look farther ratherthan pursuing immediate profits.

He underlined that this year, the VCCI and the Vietnam Business Council forSustainable Development (VBCSD) will collaborate with a group of experts to decidea standard level for sustainable development. The move aims to encouragecompanies to measure their efforts towards sustainable development plansbesides honouring the top 100 pioneering and successful enterprises.

In order to rank 100 most sustainable companies, the Corporate SustainabilityIndex (CSI) continues to be used to evaluate the involved firms’ performancebased on 151 quantitative criteria.

According to Dao Thuy Ha, a representative from drug maker Traphaco JSC, theCSI gives comprehensive assessment on an enterprise’s operation in terms of notonly capital and finance, but also environmental, energy, climate change andworker issues.

Integrating CSI into sustainability report will make the overall picture of anenterprise become more transparent, she said, adding that the values that afirm generates are not only dividends but also job creation, environmentprotection and conservation of natural resources.

The top 100 sustainable businesses 2018 listing will be announced at a ceremonyheld in November.

The 2017 programme attracted the participation of over 500 enterprisesspecialising in a wide range of industries.-VNA
VNA
#Sustainable development #core of enterprises’ business strategy #global value chains #Vietnam Chamber of Commerce and Industry #the most sustainable businesses in Vietnam #Corporate Sustainability Index #Vietnam News Agency #Vietnamplus
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