Conference discusses sustainable development by businesses

VIETNAM, July 12 - HCM CITY – Businesses have a responsibility to protect the environment, which also enhances their competitiveness, facilitates entry into international markets, and ensures sustainable development, a conference heard in HCM City.

The conference, titled "Business and Sustainable Development" and organised by LifeNex and PDA & Partners at the Audi Charging Lounge in District 1 on July 11, focused nature-positive business, responsible production, corporate social responsibility and effective governance.

According to The Ministry of Natural Resources and Environment, Việt Nam is among the countries most heavily impacted by climate change, and faces issues such as reduced biodiversity, rising sea levels and increasing droughts.

Moreover, Việt Nam discharges around 1.8 million tons of plastic waste into the environment each year, the fourth highest of any country globally.

Bùi Thị Thu Hiền if the International Union for Conservation of Nature autoed a 2022 PwC's survey as saying Vietnamese businesses are focusing on environmental and social issues and governance as part of their readiness to practise ESG (Environmental, Social and Governance).

Businesses harnessing nature as infrastructure could potentially generate up to US$160 billion and create four million jobs by 2030, she said.

She spoke about the concept of a nature-positive economy, a sustainable development initiative that conserves and restores nature, a current global economic trend.

There was an introduction of Home Credit Vietnam's business model with a sustainability strategy focused on customer-centricity and that of Six Senses Côn Đảo resort, which emphasises the protection of natural heritage.

The conference also included panel discussion on the topic “Sustainable Business Development - Practical Perspectives”

Nguyễn Hồng Quân, director of the Institute of Circular Economy Development, said Việt Nam supports and encourages businesses to transition to sustainable technology and development.

Businesses are well aware of regulations related to the circular economy and sustainable development and even the latest Extended Producer Responsibility (EPR) regulations, he said.

They are also striving for sustainable and environment-friendly development, he added.

Chu Thị Kim Thanh, chief operating officer at the Việt Nam packaging recycling alliance (PRO), said since 2022, before EPR came into effect, many businesses had collaborated with and authorised PRO to collect and recycle used product packaging.

“In 2022 PRO Việt Nam collected and recycled approximately 3,500 tonnes of packaging. By 2023 this number increased to 14,000 tonnes. In 2024 we target 70,000 tonnes.”

Lê Anh, director of Duy Tân Plastic Recycling JSC, referred to the company's plastic recycling plant, which adheres to of zero waste, zero emissions and zero wastewater norms.

The event was part of the "Việt Nam Towards a Sustainable Future" series aimed at providing a platform for stakeholders to share experiences and build partnerships in Vietnam's sustainable development efforts. – VNS