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Thursday, July 25, 2024

Improving transparency in ESG ratings

By Ngoc Nguyen

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It is crucial to improve the quality of Environmental, Social, and Corporate Governance (ESG) reporting and disclosure in Vietnam. The issue was discussed at the ESG Masterclass workshop on “ESG Reporting & Ranking Framework” as part of the ESG Forum 2024 held in HCMC on June 13 by The Saigon Times in collaboration with the EuroCham Green Growth Sector Committee (GGSC) and the ESG & Sustainable Business Transition Alliance. Rising demand for sustainability reporting Vietnamese businesses are increasingly recognizing the necessity of embracing sustainable development practices and disclosing their sustainability efforts, driven by a significant shift in the global landscape and an imperative for internal adaptation. The introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM) has further catalyzed this movement by imposing a price on specific greenhouse gas emissions during the production of select imports, aiming to prevent carbon leakage and level the playing field for EU and non-EU producers. Several Asian countries and territories, such as Singapore, Malaysia, Hong Kong and the Philippines, have either mandated or encouraged sustainability reporting for listed companies, underlining the momentum toward sustainability in the region. Based on the KPMG Survey on Sustainability Reporting 2022, the Asia Pacific region led in sustainability reporting […]
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