Sustainability reporting standards hoped to “green” stock market hinh anh 1An investor monitors stock fluctuation (Photo: VNA)

HCM City (VNA) – The Sustainability Reporting Standards of the Global Reporting Initiative (GRI) debuted in Vietnam on June 13, aiming to help make the stock market “green”.

The event to introduce the GRI standards was held by the HCM Stock Exchange (HOSE), the GRI and the Vietnam Chamber of Commerce and Industry.

Nguyen The Tuan, deputy head of HOSE’s research and development division, said sustainability reporting is an effective tool to measure, recognise and publicise enterprises’ sustainable development targets. Through the reports, companies can enhance their prestige and gain investors’ trust, helping to “green” the capital market.

Despite global popularity, sustainability reporting is relatively new among Vietnamese firms, he added.

Director of Services at GRI Asthildur Hjaltadottir said the GRI Sustainability Reporting Standards, the latest version and also the highest international standards of sustainability reporting issued by the Global Sustainability Standards Board, have been introduced in many countries.

The use of these standards will help address the fact that Vietnamese businesses are still producing sustainability reports in an inconsistent manner, she said.

She added the GRI translated the standards into Vietnamese and is popularising them to local enteprises.

The Vietnamese version of the GRI Sustainability Reporting Standards is available on the GRI’s website. A version for small- and medium-sized enterprises will be introduced by the end of this year.

In an effort to promote a green capital market, HOSE will debut the VN Sustainability Index (VNSI) this July to evaluate the sustainability performance of companies listed on the Vietnam’s stock market.

Businesses with the highest scores in environmental, social and governance-related performance will be listed on VNSI.-VNA