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| The first Women Board Members & Senior Leaders Forum (WDS) was held in Vietnam on October 31. (Source: VBCWE) |
The event was hosted by the Vietnam Institute of Directors (VIOD) with the support of the Ho Chi Minh City Stock Exchange (HOSE), the International Finance Corporation (IFC), the Vietnam Business Network for Women's Empowerment (VBCWE), the New Zealand Institute of Directors and the Global Network of Women Board Directors (WCD).
With the theme: “Sustainable Development - Perspective from Green Leadership Thinking”, the Forum is a milestone to focus on sharing trends and values of an organization, an enterprise on ESG sustainable development, including the role of corporate governance culture, inclusive diversity with the participation of female board members.
In her opening speech at the Forum, Ms. Tran Anh Dao - Deputy General Director in charge of operations of Ho Chi Minh City Stock Exchange (HOSE) said that this event marked an important milestone in our common journey towards gender balance in the field of corporate governance, to explore innovative strategies, good practices and feasible solutions to promote gender diversity in particular and board diversity in general. Ms. Dao believes that collective efforts will create lasting impacts, not only on the issue of women on boards of directors but also on the whole society.
Ms. Ha Thu Thanh, Chairwoman of VIOD and Vice Chairwoman of VBCWE, shared that the presence of female leaders in a Board of Directors (BOD) and executive board with diverse gender structure helps raise social awareness, can promote business efficiency and sustainability of enterprises.
To develop quickly but sustainably, businesses cannot do without a visionary leader who focuses on the pillars of sustainable development, in which corporate culture is a core factor that not all leaders realize. Female leaders often have their own strengths - empathy and resilience. The positive benefits from published ESG reports also show that companies with effective and gender-diverse board structures often perform better.
Ms. Thanh believes that businesses need to build a strong, talented female workforce, which is the key to promoting more women on the Board of Directors. Companies can attract and retain talented, qualified women by developing a gender diversity strategy that is tailored to their own environment and needs.
Ms. Aroshi Nanayakara, Chairwoman of the Women Board Members Network Chapter Sri Lanka, said that female representation in the corporate environment has increased over the years, and companies with a high proportion of female leaders tend to have better financial performance, including higher profits and stock performance (according to sources from McKinsey, IFC).
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| Ms. Aroshi Nanayakara, Chairwoman of the Women's Board Members Network Chapter Sri Lanka, had an online discussion at the Forum. (Source: VBCWE) |
According to PwC research, more than 75% of CEOs believe that diversity drives innovation, improves customer satisfaction and business results. Higher numbers of women can increase the ability to build relationships and foster trust. Companies with more women tend to have better risk management, better governance and a more engaged workforce.
Mr. Pham Viet Anh - Chairman of the Board of Directors of PetroVietnam Transportation Corporation (PVTrans) shared a number of messages at the forum, gender diversity in the company's Board of Directors is an increasingly necessary need for companies to develop and grow in today's environment, enhance corporate governance, financial efficiency and help businesses make better decisions.
With their inclination, women help businesses understand consumers, attract and retain talent, and manage more ethically and responsibly. Diversity on the board of directors leads to better decision-making and problem-solving, and brings about innovation and creativity, thereby improving the company’s reputation and relationships with stakeholders. There are many aspects of diversity on the board of directors, depending on the size and conditions, companies need to consider when selecting and electing board members to ensure diversity on their board.
Also at the Forum, a multi-dimensional discussion session with lessons and practical models on the role of gender diversity in corporate governance towards sustainable development took place. Under the guidance of Mr. Tran Bang Viet - CEO of Dong A Solutions, speakers including Ms. Cao Thi Ngoc Dung - Member of the Board of Directors of VIOD, Chairman of the Board of Directors of Phu Nhuan Jewelry Joint Stock Company (PNJ), Mr. Pham Viet Anh - Chairman of the Board of Directors, PetroVietnam Transportation Joint Stock Corporation (PVTrans), Ms. Kirsten Patterson - Chairman of GNDI, CEO - New Zealand Institute of Directors shared real-life stories of their units, along with their own experiences in Green Leadership and Sustainable Development.
At the discussion session, speakers shared and discussed useful information about green growth and sustainable development through the perspective of corporate culture and corporate governance, which was shared by speakers representing businesses and leaders of the business community to Vietnamese female entrepreneurs.
Not stopping at the 2023 Women Board Members Forum, the story of Green Leadership and Sustainable Development will be continued with the 2023 Annual Forum with the theme "Unleashing Green Finance and Green Governance" on November 22, 2023.
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