The Vietnam Corporate Sustainability Forum (VCSF) 2024, themed “Net Zero 2050: Building Trust - Driving Transformation,” will be held in Hanoi.

Speaking at the thematic workshop “Promoting Sustainable Management and Creating Social Impact Towards the Sustainable Development Goals of Businesses” - one of the activities within the VCSF framework, Mr. Nguyễn Quang Vinh - Vice Chairman of VCCI and Chairman of the Vietnam Business Council for Sustainable Development (VBCSD), noted that 2024 marks the 11th year of VBCSD hosting the Vietnam Corporate Sustainability Forum, one of VBCSD's enduring and successful initiatives.

Mr. Nguyen Quang Vinh - Vice Chairman of VCCI and Chairman of the Vietnam Business Council for Sustainable Development Emphasizes the Role and Mission of Businesses in Generating Profit and New Social and Environmental Values (Photo: Quoc Tuan)

Stronger Action for the New Mission

This year’s VCSF includes two thematic workshops, with the workshop “Promoting Sustainable Management and Creating Social Impact Towards the Sustainable Development Goals of Businesses” being of significant importance. Especially at this time, Hanoi and many northern provinces are experiencing the worst storm in 30 years, causing severe damage. This is one of the impacts of climate change and extreme weather.

According to Mr. Nguyen Quang Vinh, extreme weather phenomena like this could become more common in the future because, according to scientific research, climate change is caused by human-induced ocean warming. If we do not take action to reduce greenhouse gas emissions, the Earth will continue to warm, and we will continue to suffer severe losses.

The Net Zero goal by 2050 thus becomes a pressing issue, requiring immediate action. To achieve this goal, urgent action is needed, and the business community must act more decisively since we have only 26 years, which is not a long time.

“The overarching theme of this year’s VCSF is ‘Net Zero 2050: Building Trust - Driving Transformation.’ We hope to create even greater momentum for the Vietnamese business community to work together towards this goal. This is also the main message of VCSF in its 11th year,” Mr. Nguyen Quang Vinh emphasized.

Businesses at the Thematic Workshop Discuss Green Transition Initiatives and Solutions for Achieving Net Zero Goals (photo: Quoc Tuan)

Implementing the journey of transformation, management, and sustainable governance for businesses is crucial. According to the Vice Chairman of VCCI, if businesses aim to implement circular economy practices, digital transformation, and green transition but do not emphasize sustainable strategic management, their efforts will be meaningless. Looking at the 160 specific indicators of the 17 United Nations Sustainable Development Goals, over 60% are social in nature. Sustainable management on the social front is necessary.

Currently, businesses aiming for sustainability need to focus not only on economic aspects but also account for the most important sources of capital in society that businesses use: social capital and natural capital. According to the World Business Council for Sustainable Development, if all three crucial sources of capital are accounted for, one can understand the true value, profit, and cost of a business. In reality, about 80% of businesses would show negative results if all three sources of capital were considered.

This indicates that for many years, businesses have primarily focused on economic gains and profit creation. However, today, this perspective is no longer the optimal choice. The role and mission of businesses are not only to generate economic profit but also to create new social and environmental values and profits.

Sustainable businesses leading in this field have proposed solutions that are responsible towards nature through their business activities. In terms of social capital, there needs to be a focus on human capital—the center of all activities. This topic will be a key area of discussion for VBCSD in the future.

Best Practices in Human Resource Management

At the workshop, Ms. Nguyen Thi Ngoc Hue, Director of Human Resource Strategy at AEON Vietnam, emphasized that when discussing business activities, people commonly think of capital resources. However, human resources play a crucial role in implementing the mission and development strategy of a company.

In implementing a sustainable development strategy, AEON Vietnam places high importance on human development, focusing on professional and capability growth. With over 260 years of experience in the retail industry in Japan, AEON has the advantage of organizing training programs that provide practical and unique service skills to thousands of employees—training that is hard to find in universities.

Many Best Practices in Human Resource Management Shared at the Workshop

Additionally, Ms. Nguyen Thi Ngoc Hue mentioned that AEON Vietnam always utilizes and supports resources to create opportunities for all employees and departments within the company to participate in training programs, acquire knowledge, and undergo workshops.

Organizing training programs to enhance knowledge is also a crucial activity at Schneider Electric Vietnam. Mr. Poovathungal Itteera Roy, Deputy General Director of Schneider Electric Vietnam's Energy Division, stated that the company is continuing to enhance new skills for its workforce, partners, and customers to meet the growing demand for renewable energy.

Each month, about 2,500 employees receive training. Schneider Electric Vietnam employees are required to participate in the digital citizen program to acquire technological skills, support customers in the digitalization process, and carbon neutralization. Through these training programs, the company connects employees across different generations within the organization.

However, the rapid pace of technological development presents challenges for Schneider Electric Vietnam in training a large number of employees, requiring significant effort to design suitable programs for approximately 15,000 staff members.