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cOVer stOrY

PHOTO: CUSHMAN & WAKEFIELD VIETNAM

PArt & PArceL tion include Deutsches Haus, Friendship
Tower, President’s Place, Phu My Hung
Tower, and Saigon Center 2, which are all
Environmental, Social, and Governance (ESG) criteria have located in the heart of District 1, and in
become critical in Vietnam’s real estate sector. Hanoi include Techcombank Tower, Capital
Place, and Landcaster Luminaire. According
to the Vietnam Green Building Council
HOA LAN Reports
(VGBC), as of the end of 2021, Vietnam
had about 200 green buildings. Ms. Bui
he application of Environmental, in particular. “Right now, investors need a also noted that in order to achieve its envi-
Social, and Governance (ESG) cri- business strategy associated with long-term ronmental goals, Vietnam needs more high-
t teria in Vietnam’s real estate sector value, not only for their business but also quality, sustainable buildings to reduce
has become a mandatory requirement and for society and the environment,” said Ms. environmental damage and costs.
is considered to boost investment oppor- Bui. Also, international investors trying to With the strong adoption of ESG strate-
tunities in the sector. “Companies in the enter Vietnam increasingly want to see busi- gies in its business, Mr. Angus Liew,
real estate sector with well-managed ESG ness strategies tied to long-term and sus- Chairman of Gamuda Land Vietnam, said
strategies can expect cost reductions, tainable value creation and an ESG-focused it has brought its procurement process to
reduced regulatory intervention, and approach. Many major global pension funds digital platforms to make it transparent
increased employee retention, attraction, are also putting pressure on developers and and to give its management employees
and productivity,” said Ms. Trang Bui, owners to apply ESG principles. access to how tenders and auctions are
General Manager of Cushman & Wakefield There are a number of green certificate called. In terms of working with customers,
(C&W) Vietnam. systems now recognized by the Ministry of the company has applied an online property
Construction (MoC), such as Green Mark, deal solution on its website, initially for the
treNd tOwArds esG LOTUS, Leadership in Energy & Environ- Gamuda City project in Hanoi. In the years
A recent C&W Vietnam report shows mental Design (LEED), and Excellence in to come, Gamuda Land will conduct lot of
that about 40 per cent of emissions in Design for Greater Efficiencies (EDGE), green economy initiatives. “In the future,
Vietnam come from the real estate sector, which help assess the performance of build- all buildings in our developments will be
both commercial and residential. Reducing ings in terms of energy use, emissions, designed to be green and energy-efficient,”
the effects of climate change is therefore design, and level of construction and work- he said. “Our target is a 50 per cent reduction
undoubtedly in the long-term interests of ing environment. Office blocks in Ho Chi in carbon emissions in our projects by 2030
businesses in general and those in real estate Minh City to have received LEED certifica- compared to other projects.”

12 | VIETNAM ECONOMIC TIMES | JULY 2022 www.en.vneconomy.vn