Approaching sustainable tourism development through ESG
On September 6th, at the Saigon Exhibition and Convention Center (SECC), the Ho Chi Minh City Department of Tourism and Oxalis Company organized the seminar “Approaching sustainable tourism development through ESG”. The seminar was one of the prominent events of the 18th Ho Chi Minh City International Travel Expo 2024 (ITE HCMC 2024), attracting many speakers and delegates.
In her opening remarks, Ms. Bùi Thị Ngọc Hiếu, Deputy Director of Department of Tourism of HCMC, pointed out that alongside rapid growth, the tourism industry is facing significant environmental and social challenges. Particularly after the COVID-19 pandemic, tourists’ mindset and behavior have increasingly focused on environmental and social criteria when choosing destinations.
Vietnam’s Tourism Development Strategy for 2030 has also identified sustainable, inclusive tourism development based on green growth, aiming to maximize tourism’s contribution to sustainable development goals.
In the journey towards sustainable and inclusive development, integrating principles and risk management frameworks such as ESG into strategies and goals is seen as the ‘gateway’ to the future growth of the tourism industry.
Especially with the global trend prioritizing environmental and social criteria when selecting destinations, the implementation of ESG commitments by Vietnamese tourism organizations and businesses will enhance competitiveness, attract tourists, and contribute to sustainable tourism development at the destination.
Speaking on the importance of ESG Sustainable Development globally and in Vietnam, Mr. Nguyễn Hoàng Nam, Deputy General Director and ESG Leader at PwC Vietnam emphasized that by applying ESG principles in tourism, businesses can minimize negative impacts on the environment and community. At the same time, they can create positive social values, such as improving local community livelihoods, protecting cultural and natural heritage, and enhancing the quality of life for local local people.
Regarding the application of the environmental criteria of ESG, Ms. Nguyễn Hà Dung, Deputy General Director of Oxalis, pointed out that this would help reduce negative environmental impacts by lowering emissions, protecting natural resources, and encouraging the use of renewable energy.
Mr. Inthy Deuansavanh, Founder and CEO of Inthira Group in Laos, stated that applying ESG criteria would contribute to local community development by creating jobs, preserving cultural and traditional values, and enhancing service quality for tourists.
“Particularly, the governance aspect helps strengthen transparency and improve corporate governance, ensuring business decisions are not solely based on short-term benefits but also aimed at long-term sustainability,” shared Mr. Đàm Văn Tuấn, Deputy General Director and Board Member of ACB Bank.
