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COVER STORY

STILL IN THE

EARLY STAGES

The PwC and NUS Asia Pacific sustainability reporting study shows
that many Vietnamese companies need to step up their Environmental,

Social, and Governance (ESG) efforts.

PHOTO: VIET TUAN
s sustainability reporting require- cent, reported their climate-related risks or Social, and Governance] journey,” said Mr.
ments expand across Asia-Pacific, a opportunities targets and / or disclosed Bee Han Theng, Chairman and ESG Leader
A maturity journey lies ahead for com- their performance against these targets. at PwC Vietnam. “Less than half of the top
panies when it comes to disclosing how they Furthermore, only 36 per cent reported 50 companies have identified climate change
turn sustainability commitments into action, how their company is integrating climate- as a material topic, and only one-third have
according to a joint study by PwC Asia Pacific related risks in their overall risk management. disclosed climate risks and opportunities.
and the Centre for Governance and Sustain- “The study shows that, compared to Businesses in Vietnam must keep pace with
ability (CGS) at the National University of other countries in Asia-Pacific, many com- maturing stakeholder expectations for not
Singapore (NUS) Business School. Published panies in Vietnam are still in the much just climate action but climate at the core
in June, the study, “Sustainability counts: earlier stage of their ESG [Environmental, of the business strategy.”
Understanding sustainability reporting
requirements across Asia Pacific and insights
on the journey to date”, analyses the sustain- IDENTIFICATION AND MANAGEMENT
ability reports of the top 50 listed companies OF CLIMATE CHANGE RISKS / OPPORTUNITIES
by market capitalization issued in 2020 and Climate - related risks/opportunities Disclosure of process for managing climate - related
2021 across 13 Asia-Pacific economies: Aus-
tralia, mainland China, Hong Kong (China),
India, Indonesia, Japan, Malaysia, New
Zealand, the Philippines, Singapore, Taiwan
(China), Thailand, and Vietnam.

INTEGRATING CLIMATE RISKS
INTO BUSINESS OPERATIONS
While the majority of companies
acknowledged the seriousness of climate
issues, many have yet to reveal how they
embed climate measures into their business
operations and strategy. Out of 650 com- Australia China India Japan Malaysia Thailand Vietnam
panies analyzed, 84 per cent reported iden- Hong Kong (China) Indonesia New Zealand Philippines Singapore Taiwan (China)
tifying climate change as a sustainability
issue. However, less than half, or 41 per

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