Dr. Vo Tri Thanh: Businesses that want to be "green" must "work and run at the same time", sitting and waiting will definitely lead to elimination.
Dr. Vo Tri Thanh has just shared the story of what businesses need to do to transform green and develop a circular economy.
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Dr. Vo Tri Thanh - Director of the Institute for Brand and Competitive Strategy Research.
Accordingly, at the event organized by Vietnam Business Research Joint Stock Company (Viet Research) in collaboration with Dau Tu Newspaper, Dr. Vo Tri Thanh - Director of the Institute for Brand and Competitive Strategy Research shared about the development of enterprises in the green era. Accordingly, Mr. Thanh said that green transformation is considered an inevitable trend, bringing countless benefits and opportunities to enterprises.
“In the past, we talked about income and growth, which are very important, but now we talk about sustainable development. In the past, we talked about linearity, now we talk about circular economy. Green transformation is a revolution, and the first thing we have to think about is the technological revolution. However, in both green transformation and digital transformation, the most revolutionary thing is not the technological revolution but the institutional revolution. Because it creates a completely different world, a completely different way of operating.
As a business, you cannot ignore the market. Consumers now have completely different demands; green, safe, and humane products will be more attractive. So which class is the priority for green products? It is the middle class and GenZ. GenZ is now very green. Previous countries have set criteria and standards for "green", if businesses do not adapt, do not ensure sufficient conditions, it means they cannot sell products", Mr. Thanh emphasized.
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Dr. Vo Tri Thanh also affirmed that if a business does not comply with the market shift towards green trends but still sells products, it will certainly not be able to compete after a while. Because the business may not be able to borrow capital or will have difficulty borrowing capital because green capital will be given priority.
However, green development has great benefits but also endless challenges. It can be mentioned as the contradiction between regulations, the non-adaptability of traditional business models... Faced with this reality, Mr. Thanh said that businesses themselves need to be very proactive.
"Recently, I went to survey some localities to report to the Government on sustainable economy. Many businesses shared that they are very aware of sustainable development and circular economy but are still waiting for the mechanism to do it. Up to now, the action plan or circular economy pilot is still "on the table" and has not been approved. But if we keep waiting, when will it be? Because the market does not wait for us, "Vietnam 2045 aspiration" does not wait, NetZero commitment does not wait either.
Accordingly, businesses need to be proactive, if they keep waiting, the market will automatically eliminate them. Up to now, many businesses have started to make green transformation, circular economy and they are still doing it. In this context, businesses have to "work and run at the same time", cannot wait", said the Director of the Institute for Brand Strategy and Competition Research.
The results of a quick survey of businesses by Viet Research show that 65.5% of businesses believe that investing in brand image helps create a difference and attract potential candidates. A reputable brand not only affirms the position of the business in the labor market, but also contributes to retaining employees by creating a positive and sustainable working environment.
Over the next three years, 75.9% of businesses predict that environmental and sustainable development policies will have a major impact on the way employees work. Businesses clearly recognize that integrating sustainability factors not only helps limit environmental impacts but also contributes to building a friendly and responsible corporate image towards the community.
Huyen Thanh
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