Stakeholder Concerns About ESG in Business

In the modern business world, ESG (Environmental, Social, and Governance) has become one of the top important factors. For businesses, understanding and addressing the ESG concerns of stakeholders is not only a social responsibility but also a key to sustainable development and long-term success. This article will analyze in detail the ESG concerns of stakeholders regarding businesses.

1. Customers
   a. Quality and Sustainability

Customers are increasingly concerned about the quality and sustainability of products. They want to know that the products they purchase are not only good for their health but also do not harm the environment. This drives businesses to ensure sustainable materials, environmentally friendly production processes, and recyclable packaging.

b. Social Responsibility

Customers expect businesses to fulfill their social responsibilities. They want to see that the company contributes positively to the community through charitable activities, community development, and other social support programs. This not only helps build brand image but also creates trust and loyalty from customers.

2. Employees
   a. Safe and Fair Working Conditions

Employees are concerned about a safe working environment, fair labor conditions, and non-discrimination. Businesses need to provide occupational safety measures, create a fair working environment, and promote diversity and inclusion.

b. Career Development

Training and career development programs are a major concern for employees. They want opportunities to learn and advance in their careers. Businesses need to invest in training programs and skill development, enabling employees to grow personally and contribute positively to the company's development.

3. Investors
   a. Sustainability and Profitability

Investors are not only concerned about profits but also value the sustainability of the business. They want to see that the company has a sustainable development strategy, protects the environment, and fulfills social responsibilities. These factors not only help mitigate risks but also enhance the long-term value of the business.

b. Transparent Governance

Transparency in governance is a top concern for investors. They expect the company to disclose financial and non-financial information clearly, transparently, and in compliance with legal regulations. This helps build trust and solid confidence from investors.

4. Partners
   a. Sustainable Cooperation

Partners are interested in sustainable and mutually beneficial cooperation. They want to see that the company implements fair cooperation policies and processes, respects the interests of stakeholders, and promotes sustainable development in cooperative relationships.

b. Support and Development

Partners expect support from the company, including technical, financial, and other resources for mutual development. This support not only helps partners enhance their capabilities but also strengthens long-term and sustainable cooperation.

5. Community and Government
   a. Environmental Protection

The community and government are concerned about the company's environmental protection activities. They expect the company to implement measures to minimize negative environmental impacts, use resources efficiently, and adopt clean technologies. This not only helps protect the environment but also contributes to the sustainable development of society.

b. Community Development

The community and government expect the company to contribute to community development by creating jobs, improving quality of life, and participating in social activities. Businesses need to implement community support programs, invest in infrastructure development projects, and engage in charitable activities.

c. Compliance with Laws and Regulations

The government expects businesses to comply with legal regulations and national standards, including those related to environmental protection, labor, and consumer rights. This compliance not only helps businesses avoid legal risks but also builds reputation and fosters trust from stakeholders.

Conclusion

The ESG concerns of stakeholders regarding businesses are diverse and complex. Addressing these concerns is not only the responsibility of businesses but also a determining factor for sustainable development and long-term success. For Vietnamese businesses, focusing on ESG will help enhance their reputation, attract investment, and build sustainable relationships with customers, employees, investors, partners, the community, and the government.

In the context of globalization and rapid market changes, listening to and addressing the ESG concerns of stakeholders will be a key factor helping businesses expand and assert their position in the international market. Let’s work together to build a sustainable future for businesses and the community!

Viet Australia
Viet Australia Auditing Company is an independent auditing organization licensed and established in 2007 in the Socialist Republic of Vietnam.