In the light of the Government Notice No. 398/TB-VPCP dated December 15, 2015 on rankings of sustainable businesses in 2016, the Vietnam Business Council for Sustainable Development (VBCSD) in close cooperation with the Ministry of Labour, Invalids and Social Affairs (MOLISA), the Ministry of Industry and Trade (MOIT), the Ministry of Natural Resources and Environment (MONRE), the Vietnam General Confederation of Labour (VGCL) and the State Securities Committee of Vietnam (SSC) has officially launched the first “Programme on Benchmarking and Ranking the Most Sustainable Companies in Vietnam in 2016”.

The Launching Ceremony has brought together more than 250 delegates from government agencies, enterprises, business associations and domestic and international institutions.

At the Launching Ceremony, 100 companies have been named the most sustainable companies in Vietnam.

The evaluation and ranking are based on the Corporate Sustainability Index (CSI) which is built on economic, social and environmental aspects with 151 questions divided into two sections, with the first being general criteria and the second delving into specific criteria of sustainable development. The questionnaire is proven specific, inclusive, scientific and objective.

The content of the questionnaire is created, reviewed and edited by top-notch specialists from VCCI, concerned ministries and agencies in addition to valuable comments and contributions from Vietnamese and international economic specialists.

The introduction of the Corporate Sustainability Index is definitely a breakthrough because this is the first time a unit in Vietnam creates this index and designs it exclusively for Vietnamese companies. The advantages of this index are easy to use and applicable to all companies irrespective of type, scope and scale of operation.

Engaging in the programme and achieving high rankings also provide a good opportunity for companies to enhance their reputation and brand, attract human resources and access new business opportunities thanks to the increased confidence of their partners, investors and shareholders, and enable them to develop a sustainable business and improve corporate competitiveness against the backdrop of present international economic integration.

This is also the recognition of the Government, authorities, business community, organisations and society of activities of pioneering companies that have outstandingly contributed to the sustainability of the Vietnamese business community.

Mr. Nguyen Quang Vinh, Deputy Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI) and Secretary General of VBCSD, said, sustainable development has become an urgent requirement and necessity in global economic activity as well as a challenge in the context of international economic integration.

“It is encouraging that companies are increasingly interested in sustainability. Remarkably, Vietnamese companies outnumber foreign candidates and win high rankings. This indicates that their awareness of sustainability has been enhanced and their sustainability performance has achieved good progress,” he added.

From the perspective of a technical partner of the programme, Ms. Dinh Thi Quynh Van, CEO of PwC Vietnam, said, “In addition to long-term benefits, the integration of sustainable development objectives into corporate development strategy will bring in immediate benefits, and help improve risk management, reduce operating costs, promote innovation and attract investment. Vietnamese businesses have raised the knowledge of sustainability benefits and positively responded to sustainability.”

VBCSD Secretary General Vinh expressed his hope that the Programme on Benchmarking and Ranking the Most Sustainable Companies in Vietnam and 100 winners are not only the pride of today but also communicate such pride on and translate its significance and motivation into the community of 500,000 businesses in Vietnam, thus helping make images and products of Vietnamese companies competitive on international markets and become national brands and the pride of every Vietnamese citizen.

Among shortlisted companies, Bao Viet Holdings is among the most sustainable businesses. Mr. Dao Dinh Thi, President of Bao Viet Holdings, said, “Sustainable development is one of strategic objectives of Bao Viet Holdings as it is not only integrated deeply into the business strategy but is also realised in everyday activities. Bao Viet Holdings feels very proud when our efforts are recognised by the jury and reflected in the rankings result. In the framework of this programme, we have shared our experience in making sustainability reports of international standards, which have been recognised with domestic and international valuable prizes, in a bid to communicate sustainability values to the Vietnamese business community.”

After the inaugural awarding ceremony, the programme will be held annually in order to assess and rank sustainable companies; enhance the knowledge of importance and benefits of corporate sustainability, communal sustainability and social sustainability; promote sustainable business; increase sustainable development exchange and cooperation among stakeholders in Vietnam such as the business community, government agencies and civil society organisations; support Vietnamese companies to learn experience from best global practices of sustainable development and economic integration; and expand the application of Corporate Sustainability Index in the Vietnamese business community.