VCSF 2023: The Global Green Race

On the morning of August 23rd, in Hanoi , the Vietnam Federation of Commerce and Industry (VCCI) and the Vietnam Business Council for Sustainable Development (VBCSD) organized the Sustainable Business Forum (VCSF) with the participation of over 300 domestic and international delegates.

VCSF 2023: Cuộc đua xanh toàn cầu - Từ chiến lược đến thực hành kinh doanh bền vững

The panel discussion "Promoting 'natural' initiatives towards a low-carbon economy " was held within the framework of the Vietnam Sustainable Business Forum 2023 (VCSF) on August 23rd. (Photo: Van Chi)

The 2023 VCSF (Vietnam Green Strategy) has the theme “The Global Green Race: From Strategy to Sustainable Business Practices”. This is the 10th consecutive year that VCSF has been held.

The VCSF was initiated just before Vietnam, along with 192 other countries worldwide , committed to implementing the 2030 Agenda with the 17 Sustainable Development Goals (SDGs) of the United Nations, as well as committing to mitigating climate change at COP 21 in 2015 in Paris (France). This serves as clear evidence of the creativity, pioneering spirit, and commitment of VCCI in general, and VBCSD in particular, in their persistent journey of supporting the Vietnamese business community on its path to sustainable development.

In September 2023, the United Nations SDG Summit will take place in New York, USA, to review the halfway point in the implementation of the 2030 Agenda and to outline a plan to accelerate action towards the 17 Sustainable Development Goals (SDGs).

At this point, it is clear that the world is still facing an increasing number of challenges stemming from climate change, food security crises, energy insecurity, epidemics, global economic downturns, geopolitical instability, and more. In particular, the decline in biodiversity, depletion of natural resources, and climate change are creating the most severe pressures on humanity. This also means that solving environmental and climate change problems will significantly contribute to ensuring the sustainable future that humanity desires.

From this perspective, business models that are "naturally oriented"—businesses that create a positive impact on the environment—are among the best solutions for achieving sustainable business development goals, thereby contributing to the prosperity and well-being of each nation and people. This is also the message conveyed throughout the topics presented and discussed at the VCSF Forum 2023.

According to Nguyen Quang Vinh, Vice Chairman of VCCI and Chairman of VBCSD, in the face of sustainable development requirements, the business community needs to redefine business success not only in financial figures but also in the ability to adapt, withstand, and recover from unprecedented challenges. Businesses also need to link their long-term success and growth with the sustainable interests of the community, society, and the environment.

"Once the mindset has shifted, businesses also need to focus on a number of priority actions, namely: transforming their value chains and supply chains towards greater sustainability; promoting accountability within businesses; and promoting dual transformation (digital transformation alongside green transformation)," VCCI Vice President Nguyen Quang Vinh emphasized.

The VCSF Forum 2023 program also encompasses diverse content from panel discussions within the plenary session and thematic sessions with topics such as "Promoting 'natural' flavor initiatives towards a low-carbon economy", "Enhancing business competitiveness through building green supply chains" and "Towards 'natural' flavor business and green growth from a foundation of ESG practices in enterprises".

With the participation of numerous speakers from pioneering businesses implementing sustainable business practices in Vietnam, the series of seminars disseminated best practices and offered solutions and policy recommendations to support the business community in more effectively implementing low-emission production and business models; strengthening sustainable supply chains; promoting clean energy transition; improving the effectiveness of sustainable corporate governance practices and ESG framework practices; and encouraging business participation in biodiversity conservation towards sustainable development goals.

These recommendations will be compiled by VBCSD-VCCI and reported to the Government, providing useful input for formulating new policies that facilitate the sustainable development of businesses.

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