A necessary requirement for sustainable development.
Emphasizing the importance of ESG, Dr. Tran Van Khai, Vice Chairman of the National Assembly 's Committee on Science, Technology and Environment, shared that ESG is no longer an option but has become a "passport" helping businesses integrate, attract capital, and enhance competitiveness. However, ESG is only truly valuable when implemented effectively, avoiding the practice of simply "greenwashing." Therefore, according to Dr. Khai, green transformation must be closely linked to digital transformation, in which technology plays a key role in helping businesses improve productivity, ensure data transparency, access green capital, and gradually make ESG a core competitive advantage for Vietnamese businesses.
Economic experts estimate that globally, 79% of investors consider ESG factors in their investment decisions. To attract capital, businesses must seriously practice ESG. Currently, many businesses are chasing the ESG trend with flashy reports and green commitments. However, the market is increasingly scrutinizing, and customers and investors demand evidence and concrete actions. Therefore, to maintain trust and attract capital, businesses must act genuinely, not just talk the talk. If implemented correctly, ESG will transform from a compliance burden into a competitive advantage; serious practice will elevate brand image and meet customer expectations. In particular, transparent governance can turn ESG from a compliance pressure into a sharp weapon to win over customers and investors. That is the long-term value that ESG brings.
Sharing his perspective from a business standpoint, TPBank CEO Nguyen Hung stated that measuring and implementing ESG is not easy, but it is entirely feasible if businesses have determination and a clear roadmap. While previously ESG was a choice for pioneering businesses, sooner or later, all businesses will have to participate. Sharing this view, Ms. Nguyen Thi Hai Binh, CEO of STP Group, said that ESG is still a relatively new field in Vietnam, and currently, specific guidelines on ESG are limited. To achieve in-depth ESG implementation, businesses need to approach it simultaneously across three pillars: people, processes, and technology.
The solution to the bottleneck.
Based on the above reality, Dr. Tran Van Khai emphasized that green transformation is only successful when linked to digital transformation; therefore, science and technology are the key to effectively implementing ESG. If businesses have outdated management and production methods, their efficiency will be low and they will harm the environment. Conversely, applying modern technologies (such as AI, Big Data, IoT) will help businesses simultaneously digitize and green, improving productivity and sustainability. Currently, digital technology is revolutionizing the way ESG is assessed and managed: IoT measures environmental indicators in real time, AI analyzes big data on environmental and social activities to provide early warnings of risks and propose optimal solutions. Thanks to transparent, unalterable digitized ESG data, businesses can easily share verification reports with investors and regulatory agencies, thereby strengthening credibility and opening up opportunities to access green capital.
Sharing his views on the application of science and technology in ESG implementation, Professor Nguyen Duc Trung, Rector of the Ho Chi Minh City University of Banking, said that the application of digital technology, data, and modern industrial solutions such as artificial intelligence will help businesses better manage ESG factors, from controlling emissions and optimizing resources to improving management efficiency and information transparency. Once businesses have mastered the technology, ESG will no longer be a burden but become a tool to enhance competitiveness.
Meanwhile, according to Associate Professor Dr. Mac Quoc Anh - Director of the Institute of Economics and Business Development, the biggest bottleneck today is that we cannot measure or quantify the effectiveness of ESG. And technology is the solution to this bottleneck. Applying digital solutions, building data infrastructure and digital spaces will help businesses integrate data, thereby optimizing management and saving costs. Technology is not only a monitoring tool but also a "lever" for businesses to implement a dual transformation: Digital transformation coupled with green transformation.
Experts emphasize that current science and technology, innovation, and digital transformation are entirely based on the goal of sustainable development. For example, the application of artificial intelligence (AI) to monitor and measure emission and waste standards in real time. As a result, ESG will soon become a mandatory requirement, integrated into laws, decrees, and circulars. Technology will be the most important factor in guiding the business community to keep pace with the digital economy, digital government, and digital society.
Source: https://daidoanket.vn/vai-role-khoa-hoc-cong-nghe-trong-thuc-thi-esg.html
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