On 21 July 2026, Mr. Nguyen Viet Thinh, CEO of CGS Vietnam and a Fellow Member of ACCA (FCCA), participated as a speaker at the “Advancing Sustainable Finance in Vietnam” Panel Discussion, jointly organized by the Vietnam Association of Certified Public Accountants (VACPA) and the Association of Chartered Certified Accountants (ACCA).
The event brought together representatives from government agencies, professional organizations, businesses, financial institutions, and audit firms to discuss emerging trends and evolving requirements shaping the development of sustainable finance in Vietnam.
During the technical discussion on the Green Taxonomy, the panelists – including Mr. Nguyen Viet Thinh – agreed that the Government’s issuance of Decision No. 21/2025/QD-TTg represents a significant first step in establishing Vietnam’s Green Taxonomy framework, providing an essential foundation for advancing sustainable finance in the country.
However, Mr. Thinh emphasized that effective implementation of the Green Taxonomy requires businesses to proactively establish transparent and verifiable ESG data systems while progressively aligning their sustainability reporting with international best practices. Doing so will enhance the quality of corporate disclosures and strengthen market confidence.
Reliable ESG Data is the foundation for effective Green Taxonomy implementation
According to Mr. Nguyen Viet Thinh and the other panelists, the Government’s issuance of Decision No. 21/2025/QD-TTg on the Green Taxonomy marks an important milestone in the development of Vietnam’s sustainable finance market. Nevertheless, regulation is only the starting point. To translate the Green Taxonomy into practical implementation, companies need to strengthen their capabilities in collecting and managing ESG data, improve the quality of sustainability disclosures, and prepare to meet future verification and assurance requirements.
Mr. Thinh noted that a project should not be classified as “green” solely because it meets technical eligibility criteria. It must also be supported by transparent, verifiable, and reliable data that enables stakeholders to make informed assessments.
Such information provides an essential basis for financial institutions, investors, and independent verification bodies to assess whether a project satisfies Green Taxonomy criteria. This, in turn, facilitates access to green credit, green bond issuance, and other sources of financing that support the green transition.
Furthermore, as ESG disclosure requirements continue to evolve, independent assurance will play an increasingly important role in enhancing the credibility of ESG information, reducing the risk of greenwashing, and strengthening market confidence.
Sustainability Reporting should be aligned with International Best Practices
Mr. Nguyen Viet Thinh also highlighted the growing importance of data quality and Sustainability Reporting as expectations for ESG transparency continue to rise.
According to Mr. Thinh, the GRI Standards remain the most widely adopted reporting framework among Vietnamese companies. At the same time, an increasing number of leading organizations have begun exploring and applying IFRS S1 and IFRS S2, reflecting a broader trend toward aligning sustainability disclosures with internationally recognized standards.
Mr. Nguyen Viet Thinh, CEO of CGS Vietnam, speaking at the Panel Discussion.
As a member of the judging panel for the Sustainability Reporting Awards (SRA) for listed companies, Mr. Thinh also observed that the quality of sustainability reports produced by Vietnamese companies has improved considerably in recent years. Nevertheless, significant challenges remain, particularly in relation to data quality, data collection capabilities, and the consistent application of international reporting practices.
He noted that standardizing ESG data and improving disclosure quality will enable businesses to enhance transparency, strengthen investor confidence, and better prepare for the increasingly demanding expectations of the market regarding ESG and sustainability information.
Green Taxonomy creates new expectations for Businesses and the Accounting & Auditing Profession
During the panel discussion, experts also examined the key provisions of Decision No. 21/2025/QD-TTg, including the Green Taxonomy criteria, mechanisms for verifying green activities, and the respective roles of businesses, financial institutions, and independent verification organizations in implementation.
Participants agreed that the Green Taxonomy will play a significant role in advancing Vietnam’s sustainable finance market. However, to translate policy into practice, further efforts are required to strengthen ESG data systems, improve measurement methodologies, develop robust verification mechanisms, and enhance the capabilities of accounting and auditing professionals in providing assurance services for ESG and sustainable finance information.
CGS Vietnam supports businesses on their Sustainability journey
CGS Vietnam’s participation in the “Advancing Sustainable Finance in Vietnam” Panel Discussion reflects the firm’s continued commitment to supporting the business community in keeping pace with emerging developments in Corporate Governance and Sustainability. The event also provided an opportunity to share practical insights gained through CGS Vietnam’s advisory and implementation experience across a wide range of organizations.
During the discussion, Mr. Nguyen Viet Thinh emphasized that transparent and verifiable ESG data is a fundamental prerequisite for the successful implementation of the Green Taxonomy. He further noted that progressively aligning sustainability reporting with international best practices will not only help businesses meet evolving market expectations but also strengthen corporate governance, enhance investor confidence, and expand access to green financing opportunities.
Drawing on its expertise in Corporate Governance and Environmental, Social and Governance (ESG) advisory services, CGS Vietnam remains committed to helping organizations strengthen governance frameworks, standardize ESG data, and improve the quality of sustainability disclosures – laying a solid foundation for sustainable growth and closer alignment with international best practices.
About CGS Vietnam
CGS Vietnam Governance Consulting Joint Stock Company provides specialized consulting services in Corporate Governance, Sustainability (ESG), Risk Management, and Internal Audit.
Backed by a team of experienced professionals with extensive knowledge of international best practices, CGS Vietnam partners with businesses to build effective governance systems, strengthen management capabilities, meet investor expectations, and achieve sustainable growth.
For more information about CGS Vietnam:
- Website: https://cgsvietnam.com/
- LinkedIn: https://www.linkedin.com/company/cgs-vietnam
- Hotline: (+84) 363 581 520
- Email: [email protected]