Title: ESG Integration in Vietnam and ASEAN: Current Status, Sectoral Differences and Practical Implications
Authors: Dr. Le Thi Thanh Binh
Volume: 9
Issue: 11
Pages: 43-51
Publication Date: 2025/11/28
Abstract:
This paper examines the current status and integration of Environmental, Social and Governance (ESG) practices in Vietnam, placing the country in a comparative perspective with selected ASEAN peers. Drawing on recent reports and secondary data, the study adopts a descriptive and comparative approach to analyse ESG policy frameworks, firm-level practices and sectoral patterns in Vietnam, as well as developments in Singapore, Thailand, Malaysia, Indonesia and the Philippines. The findings show that Vietnam has rapidly improved its ESG awareness and policy basis, with a Net Zero 2050 commitment, a national green growth strategy and emerging sustainability reporting requirements for listed firms and financial institutions. At the same time, ESG adoption at firm level remains uneven and concentrated in large enterprises and a few leading sectors such as banking, renewable energy and export-oriented manufacturing, while small and medium-sized enterprises lag behind. Compared with ASEAN frontrunners, Vietnam can be characterised as a fast-moving follower that still faces constraints in regulatory depth, reporting quality, green finance market development and ESG data infrastructure. The paper identifies key challenges, including financial and cost barriers, limited ESG expertise, weak data systems and a lack of clear, sector-specific guidance. Based on these results, it proposes practical implications and recommendations for policymakers, financial institutions and enterprises to strengthen ESG implementation in Vietnam and to narrow the gap with advanced ASEAN countries.