Handbook on adaptation of Environmental, Social, and Governance (ESG) standards introduced

On March 24, a seminar was held in Hanoi to introduce the handbook on the Environmental, Social, and Governance (ESG) Implementation Framework.
At the seminar.
At the seminar.

The event was organised by the Agency for Private Enterprise and Collective Economy Development (APED) under the Ministry of Finance, in collaboration with the British Embassy, the British Consulate General, and consulting units, including The Asia Foundation in Vietnam and Ernst & Young Vietnam (EY Vietnam).

The implementation of the ESG is not just a trend but an urgent requirement to enhance competitiveness, attract international investment, expand export markets, and meet community expectations. The Handbook on ESG Implementation Framework and ESG Reporting Guide aim to provide guidance and enhance capacity for small and medium-sized enterprises (SMEs) and organisations supporting SMEs in accessing sustainable finance and adopting sustainable practices.

The seminar reaffirms the commitment of the Ministry of Finance and international organisations to continue accompanying the business community in implementing ESG, promoting green growth and sustainable development, and working towards a transparent, responsible, and deeply integrated economy.

Nguyen Duc Trung, Deputy Director of the APED under the Ministry of Finance.

Speaking at the seminar, Nguyen Duc Trung, Deputy Director of the APED under the Ministry of Finance, said the handbook is the result of dedicated efforts and close collaboration with domestic and international agencies and organisations. It serves as a practical guide to help businesses better understand how to integrate ESG into their business strategies while ensuring transparency in information disclosure.

Nguyen Duc Trung, Deputy Director of the APED under the Ministry of Finance speaks at the event.

Nguyen Duc Trung, Deputy Director of the APED under the Ministry of Finance speaks at the event.

As part of the seminar, industry-specific guidelines on ESG framework implementation and reporting for the Finance and Real Estate-Construction sectors were introduced. The guidelines aim to support businesses in applying the ESG framework outlined in the general handbook to their respective industries.

Speaking at the seminar, Fergus McBean, First Secretary for Climate and Nature at the British Embassy, stated that ESG practices help Vietnamese businesses meet the requirements of financial institutions and international markets, particularly in the UK and the EU.

Fergus McBean, First Secretary for Climate and Nature at the British Embassy.

Fergus McBean, First Secretary for Climate and Nature at the British Embassy.

At the seminar, delegates expressed their expectation that the handbook will provide more suitable guidance for SMEs by balancing standardised reporting requirements with truly essential and meaningful information. This approach will help businesses access and embark on their ESG transition journey more easily.

NDO