The Vietnam-Asia DX Summit 2024, organized by the Vietnam Software and IT Services Association (VINASA) and the Ministry of Information and Communications, aims to raise environmental awareness and provide business solutions. The forum's first session focused on efficient data-driven business operations and recommendations for green transformation in accordance with international standards.
Experts from large enterprises and the Vietnam Institute of Economics discussed several current issues confronting domestic businesses, including institutional and government regulations, domestic and international trends, activities required to promote sustainable business development, and effective digitization methods for green transformation. Furthermore, experts shared their experiences and dual transformation activities within their own organizations. Vietnam's economy currently ranks third among Asia's open economies, but this has brought with it environmental challenges.
During the discussion, Mr. Quang Tran, Chief Data Officer of FPT IS, highlighted challenges faced by Vietnamese businesses in exporting goods due to failure to meet international environmental protection standards.
To address this issue, Mr. Quang Tran shared with businesses the significant benefits of implementing green transformation. "Businesses should spend time reviewing customer procurement requirements to see if there are any environmental plan requirements." Most companies listed on foreign stock exchanges require service providers to have an environmental strategy. This is something I believe everyone should read about, because it is not only something we must do, but also an opportunity for IT companies like ours."
Businesses may already be aware of the need for green transformation and compliance with the State's greenhouse gas inventory and ESG regulations outlined in Decree 06/2022. However, there are currently no specific regulations governing the implementation of greenhouse gas inventory or ESG reporting, making it difficult for organizations and businesses to begin effective dual transformation, as this process can be time-consuming and costly.
Based on his experiences at FPT IS, Mr. Quang Tran shared implementation strategies for businesses to meet international standards. As a result, businesses should actively research international standards such as ISO 1406x. Currently, European countries have made significant progress toward green transformation, with ISO standards for measuring, managing, and verifying corporate greenhouse gas emissions. The key is for each business to understand all activities in their production and operation stages, recording even the smallest steps, in order to select the most appropriate standards for their characteristics when reporting.
Each business must invest in both people and digital platforms to manage data, enabling efficient reporting and cost savings as part of the green transformation process. Investing in people to determine the standard path appropriate for the business's characteristics, as well as digital tools such as MACC (Marginal Abatement Cost Curves) to aggregate and provide investment guidance, or language support tools for report writing, to avoid wasting employee time and effort.
FPT IS currently provides Vietnam's first greenhouse gas inventory and solution development software, VértZero. The VértZero solution, which complies with global standards such as ISO 14064-1 and the GHG Protocol, assists businesses in fully digitizing all processes, including measurement, reduction, reporting, and automation. Furthermore, FPT IS is actively collaborating with leading green transformation companies, such as CarbonEX and Faeger from Japan, to promote green projects in Vietnam and around the globe.
Mr. Quang Tran emphasized the importance of green projects and green transformation for businesses in Vietnam. He stated, "If businesses find ways to inventory their greenhouse gases and participate in a transparent greenhouse gas inventory market according to international standards, I believe it will not only be beneficial for us but also provide an opportunity to access green funds and receive support from international organizations to re According to Mr. Quang, this is also the government's NetZero goal: "Every day in Vietnam, we use 100 million plastic cups - therefore, businesses need to review our emissions to develop a reduction roadmap, contributing to the national roadmap; by 2050, Vietnam must achieve net-zero emissions."
