Digital platform helps Vietnamese businesses practice ESG

Synergy technology platform helps Vietnamese businesses practice ESG announced by Crif D&B Vietnam (part of the global Crif Group) on the morning of December 12 in Ho Chi Minh City. Synergy uses 28 languages, including Vietnamese, designed by engineers in Vietnam. (ESG)Environmental, Social, and Governance) is an assessment framework to measure a business’s sustainability and environmental and social responsibility.

According to Ms. Truong Boi An, Sustainable Development Manager, Crif D&B Vietnam, currently the market does not have a Vietnamese platform capable of synthesizing data to serve ESG practices, applicable to small and medium enterprises (SMEs). ). Synergy is an open source platform, running directly on a recognized website and implemented according to the standards framework of the Global Reporting Initiative (GRI) – an organization specializing in providing frameworks for sustainable development.

According to Ms. An, Synergy is used by providing a set of questions including nearly 100 questions, specifically for SME businesses, the number of questions is about 60. Depending on the type and business field of the business, the platform will offer Questions suitable for 36 different fields. Businesses will be given accounts, logged in with their registered email and provided with quantitative and qualitative data on ESG-related activities such as wastewater treatment, energy management, and gas emissions. greenhouse… In addition, businesses also collect data on social activities and their contributions to sustainable development. Regarding management, businesses collect data on strategy and leadership vision on ESC practice…

Crif D&B Vietnam representative said that to monitor quantitative data, businesses must provide a basis for the data they answer. For example, when providing data on electricity consumption, businesses must have an image of an electricity bill to prove that the data provided is correct. The system will synthesize the declared information fields and produce a sustainable development report of the enterprise according to GRI’s criteria framework. The system will analyze and recommend that businesses propose a roadmap for higher level practices and improve low indicators. According to Ms. An, certificates of ESG practices with specific indicators will be issued online if businesses meet the criteria and are valid for one year.

Mr. Van Anh, Representative of Asia Saigon Food Ingredients Joint Stock Company, said that this platform is very practical for businesses that want to practice ESG. However, the process of implementing corporate ESG criteria takes time to follow a step-by-step roadmap. Therefore, the data provided to the platform must be done many times for each sustainable development report, causing costs. He suggested that it is necessary to set a time for making periodic reports so that businesses can do so at the most optimal cost.

The concept of ESG was born in the early 2000s, associated with the growth of responsible investment movements and concerns about sustainability. ESG is considered a core factor to help businesses maintain sustainable development in the global context and climate change.