FPT IS’s effective solutions for twin transition in accordance with international standards
Digital transformation, green transformation, and the twin transition are current global business trends driven by the significant impact of human emissions on the climate and environment, not only in Vietnam but also worldwide. At the seminar “Digital-Green Transformation: Strategy, Standards, Efficient Implementation” during the Asia-Vietnam DX Summit 2024, FPT IS experts shared their experiences in achieving effective green transformation as per international standards.
The Vietnam-Asia DX Summit 2024, organized by the Vietnam Software and IT Services Association (VINASA) and the Ministry of Information and Communications, aimed to raise awareness of environmental protection and recommend strategies for businesses. Seminar 1 of the Summit specifically focused on operating businesses effectively based on data and provided recommendations for green transformation in accordance with international standards.
Experts from large enterprises and the Vietnam Institute of Economics highlighted several issues regarding the twin transition that domestic enterprises are facing. These issues include institutional challenges, government regulations, current local and international trends, activities needed to promote sustainable business development, and effective digitalization methods for green transformation. Additionally, experts shared their own experiences on the implementation of twin transition within their businesses.
The seminar “Digital-Green Transformation: Strategy, Standards, Effective Implementation” featured experts sharing their experiences on the twin transition process within their businesses.
Currently, Vietnam ranks as the third most open economy in Asia, but it faces significant environmental challenges. During the seminar discussion session, Mr. Nguyen Tran Tri Quang, FPT IS Chief Data Officer, highlighted several difficulties faced by Vietnamese businesses in exporting goods due to not meeting international environmental protection standards.
To address this issue, Mr. Quang discussed the significant benefits of implementing green transformation for businesses: “Businesses should take the time to check if their customers’ purchasing requirements include any environmental planning mandates. Most companies listed on foreign stock exchanges require service providers to have an environmental plan. This is something everyone should be aware of because it is not only a necessity but also an opportunity for IT businesses like ours.”
Mr. Nguyen Tran Tri Quang – FPT IS Chief Data Officer spoke at the event
Businesses in Vietnam may now be aware of implementing green transformation and complying with carbon accounting and ESG regulations set out by the State under Decree 06/2022. However, the lack of specific regulations for carbon accounting or ESG reporting makes it challenging for organizations and businesses to effectively start the twin transition process, which often requires significant time and expense.
Based on his experiences at FPT IS, Mr. Quang shared his ideas about how businesses can implement green transformation in accordance with international standards. He advised businesses to proactively study international standards such as the ISO 1406x series. European countries have advanced significantly in the green transformation process by adhering to ISO standards, which involve the measurement, management, and inspection of greenhouse gas emissions from their enterprises. The key, according to Mr. Quang, is for each business to thoroughly understand all activities in their production and operation stages, meticulously record even the smallest steps, and choose the standards that best suit their specific characteristics for reporting purposes.
During the green transformation process, every business needs to invest in both people and digital platforms for data management. This dual investment creates efficiency in the reporting process and reduces costs. Businesses should invest in people to identify a standard path that suits their unique characteristics, complemented by digital tools such as MACC (Marginal Abatement Cost Curves) to synthesize data and provide investment directions. Language tools can also be applied to support the report writing process, preventing the waste of staff time and effort.
FPT IS is pioneering the introduction of Vietnam’s first carbon accounting solution, known as VertZéro. Adhering to global standards such as ISO 14064-1 and GHG Protocol, VértZero enables businesses to comprehensively digitize their processes, including measurement, emissions reduction, reporting, and automation. Additionally, FPT IS actively collaborates with leading green transformation businesses, such as Japan’s CarbonEX and Faeger, with the objective of fostering green projects between Vietnam and the global community.
To accelerate the implementation of green projects and foster green transformation among businesses in Vietnam, Mr. Tran Duc Tri Quang reiterated the importance of taking action: “By adopting carbon accounting methods and engaging in transparent carbon accounting markets in line with international standards, businesses can not only benefit themselves but also gain access to green financing and support from international organizations to reduce emissions.” Mr. Quang emphasized that this aligns with the NetZero target set by the Government, “Consider this: in Vietnam, we use 100 million plastic cups daily. Businesses must assess their emissions and establish a roadmap to reduce them, contributing to the national goal of achieving net zero emissions by 2050.”
