Workshop “Press with sustainable development report”

Mr. Nguyen Cong Minh Bao, Director of GRI Vietnam had speech at the seminar

Mr. Nguyen Cong Minh Bao, Director of GRI Vietnam had speech at the seminar

On May 29 in Hanoi, the Communication and Development Research Center (RED) - an affiliated organization of the Vietnam Union of Science and Technology Associations (VUSTA) – and the Global Reporting Initiative Organization (GRI Vietnam) co-organized the workshop “Press with the Sustainable Development Report of the Enterprise”.

Nearly 80 participants attended the workshop, including speakers from the Business Council for Sustainable Development in Vietnam (VBCSI); enterprises that have implemented sustainable development report; leaders of press agencies and reporters of central and local press agencies, representatives of some enterprises.

The purpose of the workshop is to help the press and media to understand clearly the issues of sustainable development of the enterprises and to exploit the data of the report.

According to Mr. Dau Huy Sau, Deputy Editor-in-Chief of Financial Times, in Vietnam, many enterprises and corporations have been pioneering in making sustainable development reports although there is not legal requirement on this report such as Bao Viet Group, Vietnam Milk Joint Stock Company, Hau Giang Pharmaceutical Joint Stock Company, Vietnam Petro Drilling Services Joint Stock Company, International Agriculture Joint Stock Company Hoang Anh Gia Lai ...

"The sustainable development report in Vietnam can be considered to stem from the Ministry of Finance's regulations on securities. The first legal document requiring disclosure of information on sustainable development of listing companies is Circular No. 155/2015/TT-BTC dated 06 October 2015 of the Ministry of Finance guiding the information disclosure on the stock market", Mr. Sau said.

Mr. Nguyen Cong Minh Bao, Director of GRI Vietnam, said that corporate sustainability and Report on competitive business (CSRCB) aims to help companies in developing countries use sustainable development reports to gain better access to global value chains. More and more companies around the world are implementing the Sustainable Development Report, through which socio-economic impacts such as environmental pollution, corruption, climate change and human rights are shown clearly. In addition to the company's financial report, the Sustainable Development Report is a "gold mine" of information and news sources for the press.

This Circular stipulates clearly: Report on the environmental and social impact of the company, public company must reflect the content related to sustainable development including: management of raw materials source, energy consumption, water consumption, compliance with the law on environmental protection, policies related to labors.

Sustainable development has been the trend of the world over  decades. Organizations are increasingly aware of their responsibility for the environmental, social and economic impacts they create over the value chains. The sustainable development report is considered as a tool for disclosure, accountability and commitment of the enterprise shown to the stakeholders on their activities.

To get a tool for disclosure, accountability and commitment of corporate responsibility, the concept of "Sustainable Development Report of the enterprise" is formed and is quite popular in many countries. However, in Vietnam, this tool remains a new little known issue.

Author: HT