Photo: UNDP

The overall objective of the CBI is to provide a platform for governments, businesses, and enterprises to work together. This includes voluntary announcements on contributions from companies towards climate change for identifying investment needs and potential funding opportunities. The CBI can also be used to address the need for capacity building to support the transformation towards sustainable green business.

Sustainable development and environmentally friendly production are now the global trends in business. Corporations are increasingly committed to speeding up the transition to a green economy. In 2017, Heineken Vietnam announced that 99.01% of its byproducts and waste from production were reused or recycled; in 2019, the chairman of Unilever Global Group pledged to cut 50% of its primary plastic use by 2025 while increasing the recycled plastic component in packaging production; the list goes on. Vietnamese enterprises have also made positive changes in awareness and action towards sustainable development.

According to Mr. Vu Dai Thang, Deputy Minister of the Ministry of Planning and Investment, “consumer trends are also changing towards smarter and more sustainable products. Consumers are increasingly concerned about environmental protection and require more action. They are creating an increasingly stronger trend of using eco-friendly products. Those commitments and trends will make an important contribution to ensure that we have a safer, better life, for today and for future generations,” he stressed.

Through the CBI, a system of data, reports, and business assessments will be developed on awareness, actions against climate change, and environmental protection in Viet Nam.

Photo: UNDP

“COVID-19 recovery presents emerging opportunities for Viet Nam to attract investments to re-ignite Viet Nam's economy, especially for SMEs. We should take this opportunity to pursue triple-win options, that promote: i) green recovery of the economy, fueled by the stimulus package provided by the government; ii) transformation towards more sustainable production processes and production of green products to meet increasing demands by consumers, and , iii) enhanced climate actions to protect our planet, and critically, to reduce the risks to future pandemics and extreme weather events due to climate change,” said Ms. Caitlin Wiesen, UNDP Resident Representative in Viet Nam.

CBI experts will evaluate the information that businesses register, then classify them into 3 levels: (i) enterprises that are aware of climate change prevention and environmental protection (‘Climate-Aware Company’); (ii) enterprises that have made changes and adaptations in production and business activities towards combating climate change and protecting the environment (‘Climate-Actions Taker’); and (iii) enterprises that have made many contributions to combating climate change and protecting the environment (‘Climate Leader’). All businesses can register in the CBI through its website at http://cbi.undp.org.vn/.

As of June 2020, 115 businesses have already signed up to join the CBI program. Registered businesses include a number of global companies, branches of foreign businesses, large domestic enterprises, small and medium-sized businesses, microenterprises, and startups.

Attending the launching event were leaders and representatives from MPI, UNDP, and many businesses such as IKEA, Solar BK, MBI Motors, Aya Cup, Mavin Group, Tundra Fonder, Ernst & Young, and Vietin Bank. The attendees also joined roundtables on how to build a green business, opportunities and challenges for enterprises in the transformation to sustainable development, and global trends and changes in policy and environment, as well as ways to support green business in Viet Nam./.

Khac Kien