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Sunday, July 14, 2024

Commitments no longer optional

By Minh Thao

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The construction industry is a major consumer of natural resources and energy. Adopting Environmental, Social, and Corporate Governance (ESG) is essential for companies in this sector to protect the environment and meet sustainability standards. The push for sustainable construction Experts emphasize that short-term investments will not yield instant results. ESG requires a systematic, long-term investment over three to five years to achieve significant benefits. At the ESG Series Masterclass workshop on “How to Incorporate ESG in the Construction Sector?” on June 13, Douglas Lee Snyder, executive director of the Vietnam Green Building Council, highlighted the substantial environmental impact of construction projects compared to manufacturing and transportation. The workshop was part of the ESG Forum 2024, titled “From Ideas to Action,” organized by The Saigon Times, in collaboration with the EuroCham Green Growth Sector Committee (GGSC) and the ESG & Sustainable Business Transition Alliance. Globally, construction accounts for over 40% of greenhouse gas emissions, while in Vietnam, this figure is 33%. The production of building materials like steel, metals and glass is responsible for around 30% of the environmental impact. Steel production, in particular, is highly polluting, emitting 1.8 tons of carbon to turn out each ton of crude steel. “With […]
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