Dr. Bui Thanh Minh - Deputy Director of the Office of Private Economic Development Research Board (Board IV) - Photo: DT
Moving towards ESG can help businesses access green capital
According to journalist Pham Tuan Anh - Editor-in-Chief of Dan Tri newspaper, the organizer of the conference, we are living in an era where sustainable development is no longer an option, but an inevitable requirement. Businesses not only need to make profits, but also have to make positive contributions to the environment and society and have a transparent and effective governance system. That is the spirit of ESG - Environment, society and governance.
Traditionally, corporate governance has been viewed as a cost to businesses.
However, many opinions now believe that ESG-oriented corporate governance can be a profit-generating factor, because if well-governed, businesses can not only reduce costs but also build sustainable profits.
Dr. Bui Thanh Minh - Deputy Director of the Office of Private Economic Development Research (Department IV) shared that global ESG practices put pressure on Vietnamese businesses. However, ESG is a world trend. Moving towards ESG can help businesses access green capital - although not cheap, it is medium and long-term capital.
ESG is a tool for more effective management, generating money
Assoc.Prof.Dr. Nguyen Duc Trung - Principal of Banking University of Ho Chi Minh City - Photo: DT
Associate Professor, Dr. Nguyen Duc Trung - Principal of Banking University of Ho Chi Minh City - said that to do ESG, money is one of the important issues. More important is how much money and whether the money flows to the right destination. Cost management is something business owners need to pay attention to.
For example, at the Banking University of Ho Chi Minh City, the board of directors thought of clean energy and installed air conditioning, using solar panels. Thanks to solar power, the air conditioning can be turned on comfortably, saving costs.
"The ESG story is a tool for more effective management, generating money, not just cost management," Mr. Trung emphasized.
In order for businesses to manage in an ESG-oriented manner, Dr. Bui Thanh Minh said that when practicing ESG, there are many different opinions about ESG. First, it is necessary to analyze the business model, impact and purpose of practicing ESG.
If you practice ESG to expand your market, you can learn from pioneering businesses and research how pioneering businesses do it. In the report, you must present convincing data to investors, buyers, customers, shareholders, etc.
However, Vietnamese businesses often use the "AC" method, also known as approximation, so when a problem occurs, they don't know where it is.
"Vietnamese businesses still face many difficulties, so when spending a single dollar, they have to calculate. First, businesses must comply with the law, then they must consider integration. When seeing a big problem, everyone can share resources and work together to communicate.
We have to live within our means, practice to the extent of our resources as long as we don't overstate what we can do," Mr. Minh added.
Source: https://tuoitre.vn/esg-co-the-giup-tao-ra-tien-2024082918280226.htm
Comment (0)