Environmental, Social, and Corporate Governance (ESG) Standards - Sustainable Development Orientation for Businesses

ESG, which stands for Environmental, Social, and Governance, is a set of standards used to assess the impacts of an organization’s environmental, social, and corporate governance practices. In the current socio-economic development, the community increasingly understands the necessity of sustainable development for the economy and each business. ESG standards act as a guideline to help stakeholders clearly understand how businesses manage risks and sustainable development opportunities. This paper presented basic knowledge about ESG and analyzes some successes and failures of typical businesses when applying ESG standards. This paper is expected to provide more orientation for Vietnamese businesses on implementing ESG standards.