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Sustainable development, barriers to overcome

Trends and challenges

In recent years, businesses have applied the principles of sustainable development as a competitive advantage for the future. In Vietnam, sustainable development is an issue that attracts the attention of businesses and society. In the context of the COVID-19 pandemic having a strong impact on the economy and the environment, the keyword “sustainable development” was mentioned to help businesses overcome step-by-step recovery, and at the same time create common value for businesses. better community.

At the Vietnam Business Sustainable Development Forum (VCSF 2021), Deputy Prime Minister Vu Duc Dam emphasized: “Don’t consider sustainable development as just a “playground” for big businesses, but for all businesses. businesses and people.”

Roongrote Rangsiyopash – President and CEO of SCG Group said: “The Circular Economy is one of the solutions to solve the current global emergency. If we do not apply this model to our work and daily life, the above problems will become more and more serious.”

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From 2021, SCG will grasp the ESG 4 Plus strategy to defuse the crisis for a sustainable world, balancing 3 factors Environment – Society – Transparent governance in business activities.

Environment – Society – Governance Transparency (Environmental, Social, Governance; abbreviated ESG) is a set of standards to measure factors related to sustainable development and the impact of businesses on the community. Studies show that ESG is increasingly becoming a powerful driving force for consumers to come to a brand’s products and services. However, in order to implement ESG, businesses must find ways to overcome barriers.

Lack of connected information and business sustainability metrics are key factors that make it difficult for businesses to apply ESG criteria.

Currently, the indicators are still in percentage terms and the support and cooperation among stakeholders is still not close. This makes many businesses unable to coordinate with stakeholders in recycling and reuse activities.

Towards a sustainable economy

Overcoming those barriers, sustainable development has been identified by many businesses as the focus of their development strategy, typically SCG Group.

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For the packaging industry, SCG focuses on designing products that use less resources and prioritize reuse or recycling. This enterprise and many units in the field have built product recovery programs to ensure effective resource control and waste management, increasing the recycling rate in the production process.

Especially in the petrochemical industry, enterprises are constantly developing products based on monochromatic materials to increase reuse and recycling, and developing plastic recycling technological process to utilize waste as a raw material, and apply a digital platform to waste sorting and collection.

With the cement – building materials industry, the trend of integrating technology and innovation to develop products and services with the brand “SCG Green Choice” meets the needs of customers and the environment.

In addition, SCG also strengthens the implementation of social activities, spreading the sustainable orientation of the business to the community during the transition to the new normal. Thereby, SCG has once again demonstrated its commitment to “Enhancing the quality of life”.

Recently, SCG Group also built the “green” SCG Outdoor Gym in Binh Duong to provide a multi-purpose space to help local people improve their physical and mental health. In addition to practicing sports every day, the community sports ground is not only equipped with many specialized equipment suitable for all ages, but also covered with many trees.Through the community sports field, a good life will be brought. more beautiful for local people through many sustainable efforts.

Valued as a globally sustainable business based on the Dow Jones Sustainability Index (DJSI), SCG always adheres to the principles of sustainable development within a transparent corporate governance framework. SCG Group together with its member companies have reaped the results worthy of the values ​​that the group has pursued continuously for many years.

Minh Son

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