In today’s global context, ESG (Environmental – Social – Governance) is becoming a “new passport” for businesses. It is not only a factor that international investors and partners consider when cooperating, but also a competitive standard within global supply chains.

However, in reality, many Vietnamese enterprises remain cautious when approaching ESG. The most common reasons are concerns about implementation costs and the lack of a clear roadmap to move from declaration to actual practice.

???? ESG Roadmap: Beyond fragmented activities

At the conference “Practicing ESG: Strengthening the Competitive Advantage for Vietnamese Manufacturing Enterprises in the Global Supply Chain”, Ms. Nguy Thi Khanh – Strategy Director of Green IN Vietnam emphasized:

• ESG cannot be reduced to fragmented activities; it requires a long-term vision of 5–10 years.

• With clear objectives, enterprises can allocate investments in stages, monitor progress, and evaluate effectiveness over time instead of pouring large sums into the initial phase.

• International standards such as GRI, ISO, or frameworks tailored for SMEs serve as “objective benchmarks” to determine investment levels, prioritize actions, and track progress.

She also highlighted that the choice of standard must align with market orientation and business partners. For example, enterprises exporting to Europe or joining global supply chains will face different requirements compared to those operating solely in the domestic market. In other words, ESG is a tool for strategy, not the ultimate goal.

???? ESG – From Option to Mandatory Requirement

From a macro perspective, Mr. Bui Thanh Minh – Deputy Director of the Office of Committee IV stated that ESG has gone beyond being just a “trend” and is gradually becoming a mandatory requirement.

In a world shaped by geopolitical tensions and trade disputes, major economies are tightening ESG standards and issuing their own regulations. This creates a “compliance maze” that enterprises must navigate to survive and thrive in international markets.

For Vietnam, the national commitment to achieve net-zero emissions by 2050, alongside a plan to significantly cut greenhouse gas emissions by 2030, represents both pressure and opportunity. These commitments are not only national responsibilities but also open up space for businesses to:

• Transform production models toward greener operations.

• Adopt green technologies to improve efficiency.

• Seek energy-saving solutions to optimize long-term costs.

???? Challenge or Strategic Leverage?

From multiple perspectives, ESG is both a challenge and a strategic lever. Early adopters will gain competitive advantages, build stronger trust with international partners, and expand opportunities to participate in global supply chains.

???? Clearly, instead of being hesitant about costs, Vietnamese enterprises should view ESG as a long-term investment, where sustainability generates greater value and enduring benefits for the future.