{"id":88602,"date":"2025-07-09T10:23:46","date_gmt":"2025-07-09T03:23:46","guid":{"rendered":"https:\/\/corporatecounsels.vn\/?p=88602"},"modified":"2025-07-09T16:53:47","modified_gmt":"2025-07-09T09:53:47","slug":"cach-nha-dau-tu-nuoc-ngoai-su-dung-cac-tieu-chi-esg-trong-quyet-dinh-tham-nhap-thi-truong-tai-viet-nam","status":"publish","type":"post","link":"https:\/\/corporatecounsels.vn\/vi\/cach-nha-dau-tu-nuoc-ngoai-su-dung-cac-tieu-chi-esg-trong-quyet-dinh-tham-nhap-thi-truong-tai-viet-nam\/","title":{"rendered":"C\u00e1ch Nh\u00e0 \u0110\u1ea7u T\u01b0 N\u01b0\u1edbc Ngo\u00e0i \u1ee8ng D\u1ee5ng ESG Khi V\u00e0o Th\u1ecb Tr\u01b0\u1eddng Vi\u1ec7t Nam"},"content":{"rendered":"

Khi c\u00e1c \u01b0u ti\u00ean \u0111\u1ea7u t\u01b0 to\u00e0n c\u1ea7u thay \u0111\u1ed5i, c\u00e1c y\u1ebfu t\u1ed1 v\u1ec1 M\u00f4i tr\u01b0\u1eddng, X\u00e3 h\u1ed9i v\u00e0 Qu\u1ea3n tr\u1ecb (ESG) \u0111\u00e3 tr\u1edf th\u00e0nh th\u01b0\u1edbc \u0111o quan tr\u1ecdng m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf s\u1eed d\u1ee5ng \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 c\u00e1c th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i. Vi\u1ec7t Nam, v\u1edbi n\u1ec1n c\u00f4ng nghi\u1ec7p \u0111ang ph\u00e1t tri\u1ec3n m\u1ea1nh m\u1ebd v\u00e0 cam k\u1ebft ng\u00e0y c\u00e0ng l\u1edbn \u0111\u1ed1i v\u1edbi ph\u00e1t tri\u1ec3n b\u1ec1n v\u1eefng, \u0111ang thu h\u00fat s\u1ef1 quan t\u00e2m ng\u00e0y c\u00e0ng nhi\u1ec1u t\u1eeb c\u00e1c ngu\u1ed3n v\u1ed1n ch\u00fa tr\u1ecdng v\u00e0o b\u1ec1n v\u1eefng. \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i khi th\u00e2m nh\u1eadp th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam, c\u00e1c ti\u00eau ch\u00ed ESG kh\u00f4ng ch\u1ec9 l\u00e0 nh\u1eefng ti\u00eau ch\u00ed h\u00ecnh th\u1ee9c m\u00e0 c\u00f2n tr\u1edf th\u00e0nh c\u00f4ng c\u1ee5 chi\u1ebfn l\u01b0\u1ee3c gi\u00fap qu\u1ea3n tr\u1ecb r\u1ee7i ro, ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c ti\u00eau chu\u1ea9n to\u00e0n c\u1ea7u v\u00e0 t\u00ecm ki\u1ebfm nh\u1eefng c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 b\u1ec1n v\u1eefng trong t\u01b0\u01a1ng lai.<\/span> <\/span><\/p>\n

B\u00e0i vi\u1ebft n\u00e0y ph\u00e2n t\u00edch c\u00e1ch c\u00e1c ti\u00eau ch\u00ed ESG \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng t\u1ea1i Vi\u1ec7t Nam nh\u1eb1m \u0111\u1ecbnh h\u01b0\u1edbng quy\u1ebft \u0111\u1ecbnh th\u00e2m nh\u1eadp th\u1ecb tr\u01b0\u1eddng, l\u00e0m r\u00f5 nh\u1eefng th\u00e1ch th\u1ee9c trong vi\u1ec7c tri\u1ec3n khai c\u00e1c khung \u0111\u00e1nh gi\u00e1 ESG \u1edf c\u1ea5p \u0111\u1ecba ph\u01b0\u01a1ng, \u0111\u1ed3ng th\u1eddi \u0111\u1ec1 xu\u1ea5t c\u00e1c th\u1ef1c ti\u1ec5n ti\u00eau bi\u1ec3u \u0111\u1ec3 t\u00edch h\u1ee3p ESG v\u00e0o chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0.<\/span> <\/span><\/p>\n

Ti\u00eau Ch\u00ed ESG L\u00e0 G\u00ec V\u00e0 T\u1ea1i Sao N\u00f3 Quan Tr\u1ecdng?<\/span><\/b> <\/span><\/h3>\n

Ti\u00eau ch\u00ed ESG \u0111\u00e1nh gi\u00e1 hi\u1ec7u qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng c\u1ee7a m\u1ed9t doanh nghi\u1ec7p d\u1ef1a tr\u00ean ba l\u0129nh v\u1ef1c ch\u00ednh:<\/span> <\/span><\/p>\n

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  • M\u00f4i tr\u01b0\u1eddng (Environmental): Ti\u00eau th\u1ee5 n\u0103ng l\u01b0\u1ee3ng, ph\u00e1t th\u1ea3i, qu\u1ea3n l\u00fd t\u00e0i nguy\u00ean v\u00e0 kh\u1ea3 n\u0103ng th\u00edch \u1ee9ng v\u1edbi bi\u1ebfn \u0111\u1ed5i kh\u00ed h\u1eadu.<\/span> <\/span><\/li>\n<\/ul>\n
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    • X\u00e3 h\u1ed9i (Social): Th\u1ef1c ti\u1ec5n lao \u0111\u1ed9ng, t\u00e1c \u0111\u1ed9ng c\u1ed9ng \u0111\u1ed3ng, \u0111a d\u1ea1ng nh\u00e2n s\u1ef1 v\u00e0 quy\u1ec1n con ng\u01b0\u1eddi.<\/span> <\/span><\/li>\n<\/ul>\n
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      • Qu\u1ea3n tr\u1ecb (Governance): C\u01a1 c\u1ea5u h\u1ed9i \u0111\u1ed3ng qu\u1ea3n tr\u1ecb, minh b\u1ea1ch ki\u1ec3m to\u00e1n v\u00e0 ch\u00ednh s\u00e1ch ch\u1ed1ng tham nh\u0169ng.<\/span> <\/span><\/li>\n<\/ul>\n

        C\u00e1c t\u1ed5 ch\u1ee9c \u0111\u00e1nh gi\u00e1 ESG h\u00e0ng \u0111\u1ea7u nh\u01b0 MSCI, Sustainalytics, FTSE Russell, c\u00f9ng v\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 ESG \u0111\u1ecba ph\u01b0\u01a1ng t\u1ea1i Vi\u1ec7t Nam, cung c\u1ea5p \u0111i\u1ec3m s\u1ed1 ti\u00eau chu\u1ea9n l\u00e0m c\u01a1 s\u1edf \u0111\u1ed1i chi\u1ebfu hi\u1ec7u qu\u1ea3 ESG c\u1ee7a doanh nghi\u1ec7p. \u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0, ti\u00eau ch\u00ed ESG \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn:<\/span> <\/span><\/p>\n

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        • Vi\u1ec7c gi\u1ea3m thi\u1ec3u r\u1ee7i ro uy t\u00edn <\/span> <\/span><\/li>\n<\/ul>\n
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          • Kh\u1ea3 n\u0103ng ti\u1ebfp c\u1eadn ngu\u1ed3n v\u1ed1n xanh v\u00e0 c\u00e1c kho\u1ea3n vay li\u00ean k\u1ebft v\u1edbi m\u1ee5c ti\u00eau ph\u00e1t tri\u1ec3n b\u1ec1n v\u1eefng<\/span> <\/span><\/li>\n<\/ul>\n
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            • M\u1ee9c \u0111\u1ed9 tin t\u01b0\u1edfng t\u1eeb nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0 c\u00e1c b\u00ean li\u00ean quan.<\/span> <\/span><\/li>\n<\/ul>\n
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              • Hi\u1ec7u qu\u1ea3 t\u00e0i s\u1ea3n d\u00e0i h\u1ea1n, \u0111\u1eb7c bi\u1ec7t trong c\u00e1c ng\u00e0nh c\u00f3 t\u00ednh bi\u1ebfn \u0111\u1ed9ng cao ho\u1eb7c ch\u1ecbu s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh nghi\u00eam ng\u1eb7t.<\/span> <\/span><\/li>\n<\/ul>\n

                Khi ESG chuy\u1ec3n t\u1eeb m\u1ed9t y\u1ebfu t\u1ed1 t\u1ef1 nguy\u1ec7n tr\u1edf th\u00e0nh y\u00eau c\u1ea7u tu\u00e2n th\u1ee7 t\u1ea1i nhi\u1ec1u qu\u1ed1c gia, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf ng\u00e0y c\u00e0ng t\u00edch h\u1ee3p ch\u1ec9 s\u1ed1 ESG v\u00e0o quy tr\u00ecnh \u0111\u00e1nh gi\u00e1 ti\u1ec1n giao d\u1ecbch v\u00e0 x\u00e2y d\u1ef1ng danh m\u1ee5c \u0111\u1ea7u t\u01b0.<\/span> <\/span><\/p>\n

                T\u1ea7m Quan Tr\u1ecdng C\u1ee7a ESG Trong M\u00f4i Tr\u01b0\u1eddng \u0110\u1ea7u T\u01b0 T\u1ea1i Vi\u1ec7t Nam<\/span><\/b> <\/span><\/h3>\n

                Vi\u1ec7t Nam \u0111ang t\u00edch c\u1ef1c t\u00e1i \u0111\u1ecbnh v\u1ecb m\u00ecnh nh\u01b0 m\u1ed9t trung t\u00e2m \u0111\u1ea7u t\u01b0 b\u1ec1n v\u1eefng. C\u00e1c ch\u00ednh s\u00e1ch qu\u1ed1c gia \u0111ang t\u1eebng b\u01b0\u1edbc ti\u1ec7m c\u1eadn v\u00e0 h\u1ed9i nh\u1eadp v\u1edbi c\u00e1c ti\u00eau ch\u00ed ESG to\u00e0n c\u1ea7u:<\/span> <\/span><\/p>\n

                  \n
                • Chi\u1ebfn l\u01b0\u1ee3c qu\u1ed1c gia v\u1ec1 T\u0103ng tr\u01b0\u1edfng Xanh (2021-2030) \u0111\u1ec1 ra c\u00e1c m\u1ee5c ti\u00eau chuy\u1ec3n \u0111\u1ed5i n\u0103ng l\u01b0\u1ee3ng, th\u00edch \u1ee9ng v\u1edbi bi\u1ebfn \u0111\u1ed5i kh\u00ed h\u1eadu v\u00e0 t\u00e0i ch\u00ednh b\u1ec1n v\u1eefng.<\/span> <\/span><\/li>\n<\/ul>\n
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                  • Ch\u00ednh ph\u1ee7 Vi\u1ec7t Nam \u0111\u00e3 cam k\u1ebft \u0111\u1ea1t m\u1ee9c ph\u00e1t th\u1ea3i r\u00f2ng b\u1eb1ng 0 (Net Zero) v\u00e0o n\u0103m 2050, l\u00e0m t\u0103ng s\u1ee9c h\u00fat c\u1ee7a c\u00e1c ng\u00e0nh kinh t\u1ebf xanh v\u00e0 c\u00e1c ng\u00e0nh ph\u00f9 h\u1ee3p v\u1edbi ti\u00eau ch\u00ed ESG.<\/span> <\/span><\/li>\n<\/ul>\n
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                    • \u1ee6y ban ch\u1ee9ng kho\u00e1n Nh\u00e0 n\u01b0\u1edbc (SSC) \u0111\u00e3 y\u00eau c\u1ea7u c\u00e1c doanh nghi\u1ec7p ni\u00eam y\u1ebft c\u00f4ng khai th\u00f4ng tin v\u1ec1 ESG, \u0111\u1ed3ng th\u1eddi gia t\u0103ng k\u1ef3 v\u1ecdng trong b\u00e1o c\u00e1o r\u1ee7i ro kh\u00ed h\u1eadu.<\/span> <\/span><\/li>\n<\/ul>\n
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                      • Lu\u1eadt thu\u1ebf b\u1ea3o v\u1ec7 m\u00f4i tr\u01b0\u1eddng c\u0169ng \u0111ang \u0111\u01b0\u1ee3c nghi\u00ean c\u1ee9u nh\u1eb1m th\u00fac \u0111\u1ea9y s\u1ea3n xu\u1ea5t s\u1ea1ch.<\/span> <\/span><\/li>\n<\/ul>\n

                        Nh\u1eefng xu h\u01b0\u1edbng n\u00e0y \u0111ang \u0111\u1ecbnh h\u00ecnh m\u1ed9t b\u1ed1i c\u1ea3nh m\u1edbi, n\u01a1i c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u00fa tr\u1ecdng v\u00e0o ESG c\u00f3 th\u1ec3 v\u1eeba \u0111\u1ed3ng h\u00e0nh c\u00f9ng \u01b0u ti\u00ean qu\u1ed1c gia, v\u1eeba t\u1eadn d\u1ee5ng \u0111\u01b0\u1ee3c gi\u00e1 tr\u1ecb l\u00e2u d\u00e0i t\u1eeb \u0111\u1ea7u t\u01b0 b\u1ec1n v\u1eefng.<\/span> <\/span><\/p>\n

                        C\u00e1ch Nh\u00e0 \u0110\u1ea7u T\u01b0 N\u01b0\u1edbc Ngo\u00e0i \u1ee8ng D\u1ee5ng Ti\u00eau Ch\u00ed ESG Trong Ph\u00e2n T\u00edch Th\u00e2m Nh\u1eadp Th\u1ecb Tr\u01b0\u1eddng<\/span><\/b> <\/span><\/h3>\n

                        Nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i th\u01b0\u1eddng s\u1eed d\u1ee5ng c\u00e1c ch\u1ec9 s\u1ed1 ESG nh\u01b0 nh\u1eefng c\u00f4ng c\u1ee5 s\u00e0ng l\u1ecdc quan tr\u1ecdng trong qu\u00e1 tr\u00ecnh ra quy\u1ebft \u0111\u1ecbnh, c\u1ee5 th\u1ec3 nh\u01b0 sau:<\/span><\/p>\n

                        1. S\u00e0ng l\u1ecdc r\u1ee7i ro tr\u01b0\u1edbc khi \u0111\u1ea7u t\u01b0<\/span><\/b><\/p>\n

                        Ti\u00eau ch\u00ed ESG gi\u00fap nh\u1eadn di\u1ec7n c\u00e1c d\u1ea5u hi\u1ec7u c\u1ea3nh b\u00e1o nh\u01b0 nguy c\u01a1 b\u1ecb x\u1eed ph\u1ea1t v\u1ec1 m\u00f4i tr\u01b0\u1eddng, vi ph\u1ea1m quy \u0111\u1ecbnh lao \u0111\u1ed9ng ho\u1eb7c sai s\u00f3t trong qu\u1ea3n tr\u1ecb. Doanh nghi\u1ec7p c\u00f3 \u0111i\u1ec3m ESG th\u1ea5p c\u00f3 th\u1ec3 ti\u1ec1m \u1ea9n r\u1ee7i ro ph\u00e1p l\u00fd v\u00e0 uy t\u00edn nghi\u00eam tr\u1ecdng, v\u01b0\u1ee3t xa c\u00e1c l\u1ee3i \u00edch t\u00e0i ch\u00ednh tr\u01b0\u1edbc m\u1eaft.<\/span><\/p>\n

                        2. L\u1ef1a ch\u1ecdn ng\u00e0nh ngh\u1ec1 \u0111\u1ea7u t\u01b0<\/span><\/b><\/p>\n

                        Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 xu h\u01b0\u1edbng \u01b0u ti\u00ean c\u00e1c ng\u00e0nh g\u00f3p ph\u1ea7n th\u00fac \u0111\u1ea9y m\u1ee5c ti\u00eau ESG, nh\u01b0 n\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o, s\u1ea3n xu\u1ea5t xanh, n\u00f4ng nghi\u1ec7p b\u1ec1n v\u1eefng v\u00e0 ch\u0103m s\u00f3c s\u1ee9c kh\u1ecfe. Ng\u01b0\u1ee3c l\u1ea1i, c\u00e1c ng\u00e0nh c\u00f3 m\u1ee9c ph\u00e1t th\u1ea3i carbon cao ho\u1eb7c ti\u1ec1m \u1ea9n r\u1ee7i ro g\u00e2y tranh c\u00e3i v\u1ec1 m\u1eb7t x\u00e3 h\u1ed9i th\u01b0\u1eddng \u0111\u01b0\u1ee3c ti\u1ebfp c\u1eadn m\u1ed9t c\u00e1ch th\u1eadn tr\u1ecdng.<\/span><\/p>\n

                        3. \u0110\u1ecbnh gi\u00e1 v\u00e0 c\u1ea5u tr\u00fac giao d\u1ecbch<\/span><\/b><\/p>\n

                        C\u00e1c doanh nghi\u1ec7p c\u00f3 hi\u1ec7u su\u1ea5t ESG cao th\u01b0\u1eddng \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 \u1edf m\u1ee9c cao h\u01a1n m\u1eb7t b\u1eb1ng chung. Ng\u01b0\u1ee3c l\u1ea1i, c\u00e1c ngh\u0129a v\u1ee5 ho\u1eb7c r\u1ee7i ro li\u00ean quan \u0111\u1ebfn ESG c\u00f3 th\u1ec3 l\u00e0 c\u01a1 s\u1edf \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m gi\u00e1 tr\u1ecb th\u01b0\u01a1ng v\u1ee5 ho\u1eb7c y\u00eau c\u1ea7u \u0111\u01b0a v\u00e0o c\u00e1c \u0111i\u1ec1u kho\u1ea3n b\u1ea3o \u0111\u1ea3m li\u00ean quan \u0111\u1ebfn ESG trong giao d\u1ecbch.<\/span><\/p>\n

                        4. ESG trong qu\u00e1 tr\u00ecnh th\u1ea9m \u0111\u1ecbnh<\/span><\/b><\/p>\n

                        C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p ng\u00e0y nay \u0111\u00e3 l\u1ed3ng gh\u00e9p c\u00e1c ch\u1ec9 s\u1ed1 ESG v\u00e0o qu\u00e1 tr\u00ecnh th\u1ea9m \u0111\u1ecbnh ph\u00e1p l\u00fd, t\u00e0i ch\u00ednh v\u00e0 v\u1eadn h\u00e0nh. Vi\u1ec7c n\u00e0y bao g\u1ed3m r\u00e0 so\u00e1t c\u00e1c b\u00e1o c\u00e1o ki\u1ec3m to\u00e1n n\u0103ng l\u01b0\u1ee3ng, ch\u00ednh s\u00e1ch ph\u00fac l\u1ee3i ng\u01b0\u1eddi lao \u0111\u1ed9ng v\u00e0 quy tr\u00ecnh ph\u00f2ng ch\u1ed1ng h\u1ed1i l\u1ed9.<\/span><\/p>\n

                        5. Chi\u1ebfn l\u01b0\u1ee3c d\u00e0i h\u1ea1n v\u00e0 k\u1ebf ho\u1ea1ch tho\u00e1i v\u1ed1n<\/span><\/b><\/p>\n

                        N\u0103ng l\u1ef1c ESG v\u1eefng ch\u1eafc c\u00f3 th\u1ec3 n\u00e2ng cao gi\u00e1 tr\u1ecb tho\u00e1i v\u1ed1n c\u1ee7a doanh nghi\u1ec7p trong t\u01b0\u01a1ng lai, \u0111\u1eb7c bi\u1ec7t l\u00e0 trong c\u00e1c th\u01b0\u01a1ng v\u1ee5 IPO ho\u1eb7c b\u00e1n l\u1ea1i cho c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 t\u1eadp trung v\u00e0o ESG. \u0110\u1ed3ng th\u1eddi, ch\u00fang c\u0169ng gi\u00fap doanh nghi\u1ec7p s\u1eb5n s\u00e0ng th\u00edch \u1ee9ng v\u1edbi c\u00e1c thay \u0111\u1ed5i ch\u00ednh s\u00e1ch trong t\u01b0\u01a1ng lai v\u00e0 \u00e1p l\u1ef1c t\u1eeb chu\u1ed7i cung \u1ee9ng.<\/span> <\/span><\/p>\n

                        Khung Ph\u00e1p L\u00fd V\u1ec1 ESG t\u1ea1i Vi\u1ec7t Nam<\/span><\/b> <\/span><\/h3>\n

                        Khung ph\u00e1p l\u00fd v\u1ec1 ESG t\u1ea1i Vi\u1ec7t Nam \u0111ang t\u1eebng b\u01b0\u1edbc \u0111\u01b0\u1ee3c ho\u00e0n thi\u1ec7n nh\u1eb1m th\u00fac \u0111\u1ea9y vi\u1ec7c t\u00edch h\u1ee3p c\u00e1c th\u1ef1c ti\u1ec5n ESG v\u00e0o ho\u1ea1t \u0111\u1ed9ng kinh doanh v\u00e0 \u0111\u1ea7u t\u01b0. Nhi\u1ec1u s\u00e1ng ki\u1ebfn ph\u00e1p lu\u1eadt v\u00e0 ch\u00ednh s\u00e1ch \u0111ang \u0111\u1eb7t n\u1ec1n t\u1ea3ng cho vi\u1ec7c n\u00e2ng cao t\u00ednh minh b\u1ea1ch v\u00e0 th\u00fac \u0111\u1ea9y ph\u00e1t tri\u1ec3n b\u1ec1n v\u1eefng:<\/span> <\/span><\/p>\n