Speaking at the launch, Mr. Tran Cong Minh Bao, GRI's Country Director for Vietnam, said small and medium-sized enterprises (SMEs) account for about 98 percent of all businesses in Vietnam. However, most face constraints in financial resources, human capital, and governance capacity, making it difficult to prepare and publish sustainability reports in line with international standards. As a result, sustainability reporting has largely remained the domain of large corporations.
The new standards are expected to help Vietnamese companies, particularly SMEs, standardize sustainability data and comply with green requirements imposed by major export markets and multinational buyers.
According to the Ministry of Industry and Trade, Vietnam's exports reached US$290.5 billion as of July 15, up 21.4 percent year on year. Alongside robust export growth, key markets such as the European Union and the United States, as well as global corporations, are tightening requirements related to environmental, social, and governance (ESG) performance, supply chain traceability, and emissions transparency.
The GRI Sustainability Reporting Standards aim to help Vietnamese businesses, particularly SMEs, meet green requirements and join global supply chains.
Mr. Tran Cong Minh Bao said the GRI standards were designed with flexibility in mind, allowing businesses to prioritize the sustainability issues most relevant to their industries. Companies can begin with fundamental indicators, such as energy consumption and greenhouse gas emissions, before expanding to more comprehensive reporting.
Mr. Werner Bardill, Consul General of Switzerland in Ho Chi Minh City, said sustainability reporting has become a key determinant of corporate competitiveness. Global buyers and multinational companies increasingly evaluate not only product quality but also the entire production process, including labor conditions, environmental impacts, and corporate governance.
He said adopting the GRI standards would improve transparency, enhance Vietnamese companies' ability to integrate into global value chains, and expand access to sustainable finance.
