The phrase Environmental, Social and Governance (‘ESG’ or ‘ESG criteria’) first appeared in 2003 in a United Nations report called ‘Who Cares Wins’ and is applied by investors and managers in the management and development of their own business. Over a period of operation, enterprises as well as countries realise that this is a necessary criterion for the sustainable development of an enterprise and one that investors consider themselves when choosing businesses in which they invest.

In Vietnam, the ESG criteria has been known since 2017, although it is still vague, but through the process of trading with transnational enterprises as well as investment funds, enterprises in Vietnam acknowledge that the ESG criteria is no longer a standard for sustainable development, but it is also considered a prerequisite for the subsistence of each enterprise, especially after the severe impacts of the Covid pandemic.

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The article is based on laws applicable at the time noted as above and may no longer be appropriate at the time the reader approaches this article as the applicable laws and the specific cases that the reader may wish to apply may have changed. Therefore, the article is for referencing only.


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