Dutch company De Heus, operating in Vietnam for 15 years, began using tanker trucks to transport animal feed about a decade ago. This was in response to the prevalence of small-scale farms that typically used feed packaged in 20-25 kg bags. Nguyen Thu Thuy, De Heus's head of sustainable development for Asia and Vietnam, explained that this method eliminates the need for packaging, resulting in cost savings.
In the maritime transport sector, PVTrans, a member of Vietnam National Oil and Gas Group, has recently focused on optimizing the energy efficiency of its fleet of over 63 vessels to reduce emissions and adapt to climate change. Bui Lan Anh, head of the general department and a member of PVTrans's ESG committee coordinating group, stated that this initiative stems from the fact that ship emissions account for 99% of the company's total emissions.
They have optimized shipping speeds and routes, and regularly clean and paint ship hulls to reduce friction. "Last year, we saved about 6% on fuel compared to 2023, which motivates us to pursue further sustainable transformations," Lan Anh said at the "Accelerating Sustainable Transformation" seminar on the afternoon of 18/9.
According to the "ESG Practice Progress 2025" report recently published by PwC Vietnam, 44% of businesses are currently implementing ESG (environmental, social, and governance) initiatives, up from 28% three years ago. In addition, 57% of respondents have implemented ESG reporting.
89% of business representatives surveyed have committed or plan to commit to ESG in the next 2-4 years, a significant increase from 80% in 2022. The percentage of businesses with no ESG plans has nearly halved to 11%. Notably, over half of the businesses reported having implemented ESG commitments.
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Speakers at the seminar on the afternoon of 18/9. Photo: PwC |
Speakers at the seminar on the afternoon of 18/9. Photo: PwC
Nguyen Hoang Nam, deputy general director and ESG services leader at PwC Vietnam, observed a clear shift from sustainability planning to action among businesses. "Vietnamese businesses are entering a new phase in their ESG maturity journey," he said.
The survey indicates that external pressures and leadership direction are the primary reasons for this increased commitment to ESG. 70% cited regulatory compliance as the main driver, followed by stakeholder pressure (40%) and senior leadership directives (39%).
At De Heus, ESG implementation is a requirement from the group level, anticipating European sustainability regulations, according to Thuy. Lan Anh explained that the trend toward ESG implementation is driven by the need to comply with and meet the demands of various stakeholders, from customers and investors to employees and the community.
Businesses are increasingly recognizing the tangible economic benefits. Vietnam has pledged to achieve Net Zero emissions by 2050. Experts believe that for an export-oriented economy like Vietnam's, meeting international ESG standards is crucial for maintaining competitiveness.
In the service sector, Van Cong Binh, director of environment and society at HDBank's corporate banking division, recounted how international financial institutions proactively approached the bank after it released its sustainability report in 2023. Previously, they often had to organize roadshows to attract foreign capital.
However, challenges remain in translating awareness into action. PwC reports that for businesses in the development phase, the main obstacles are internal, including a lack of clear ESG strategy (70%), lack of ESG expertise (60%), and incomplete measurement systems (54%).
Mature businesses face external hurdles such as gaps in legal policy (45%) and economic instability (38%), which hinder the expansion of ESG implementation.
Additionally, according to Binh, when banks and businesses interact to assess loans for sustainable projects, both struggle to find consulting firms with sufficient knowledge and expertise to evaluate data and solutions.
Foreign direct investment (FDI) enterprises continue to lead the way, with 71% having implemented ESG commitments, primarily due to compliance with global standards. Around 57% of listed companies have implemented ESG plans, driven by investor pressure and regulations. Meanwhile, only 27% of private businesses have implemented sustainability commitments.
Sharing their experiences, Lan Anh and Thuy emphasized the importance of selecting key themes and assessing existing data systems against the sustainability standards of the industry, country, and targeted international markets. In some businesses, data is scattered across departments and sometimes not digitized. Therefore, they need to establish procedures for data collection, verification, and validation, ensuring internal coordination.
Regarding external support, the PwC survey revealed that businesses desire financial support policies linked to sustainable development (59%), green standards and certifications (56%), and sustainable development legislation accompanied by incentives (55%).
"The road ahead still requires a comprehensive, integrated ESG strategy with smart data and close collaboration. ESG is not just about complying with standards, but about building businesses ready for the future," Nam concluded.
Vien Thong
