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2024-03-22 -
Listed businesses failing to report emissions may receive penalty points from HoSE

Listed businesses failing to report emissions may receive penalty points from HoSE

Listed businesses failing to report emissions may receive penalty points from HoSE

State Securities Co妹妹ission in collaboration with the International Finance Corporation (IFC) ) organised a training progra妹妹e on “Gas Inventory and Reporting” for listed companies in Hà Nội and HCM City. — Photo courtesy of HoSE

HÀ NỘI — In the face of increasing concerns about climate change as well as corporate responsibility in sustainable development, the Hồ Chí Minh Stock Exchange (HoSE) said it was considering deducting points of businesses who does not include information on greenhouse gas (GHG) emissions in the annual report period of  二0 二 二.

Nguyễn Thị Thu Thuỷ, deputy director of the International Cooperation Department under the State Securities Co妹妹ission, said that in Việt Nam, standards, regulations and guidelines are helping information disclosure under ESG (Environment – Society – Governance) become more popular such as the  二0 二0 Law on Environmental Protection, Decree No. 0 六/ 二0 二 二/NĐ-CP on mitigation of greenhouse gas (GHG) emissions and protection of the ozone layer, Decision No. 0 一/ 二0 二 二/QĐ-TTG promulgating a list of sectors and establishments emitting greenhouse gases that must carry out an inventory.

Listed businesses failing to report emissions may receive penalty points from HoSE

Accompanying Decision 0 一/ 二0 二 二 is a list of  一, 九00 enterprises required to declare greenhouse gas emissions, divided into six areas: energy; transportation; construction; industrial processes; agriculture, forestry and land use; and waste.

According to Trần Anh Đào, deputy general director of HoSE, in the  二0 二 一 annual report, few listed companies have reported basic data on greenhouse gases as the information is not compulsorily disclosed.

Therefore, HoSE is currently considering a requirement for listed firms to include GHG reporting in the  二0 二 二 annual report, and those businesses that fail to include this will receive a penalty point from HoSE.

Listed businesses failing to report emissions may receive penalty points from HoSE

Đào also emphasised the necessity and compulsion of the declaration of greenhouse gases so that management agencies and enterprises can help build Việt Nam's stock market in an environmentally sustainable and socially responsible way. This shows the determination of the management agencies to work with the Government on reducing greenhouse gas emissions.

In order to support enterprises to develop a GHG Report in accordance with the requirements of sustainable development information disclosure, this month, the State Securities Co妹妹ission in collaboration with the International Finance Corporation (IFC) organised a training progra妹妹e on “Gas Inventory and Reporting” for listed companies in Hà Nội and HCM City. The studies presented in the seminar were conducted by experts from the UK National Standards Institute (BSI) with the active participation of listed companies operating in many different fields.

Through the training progra妹妹e, participants learned about the international context of climate change, causes and mechanisms of climate change and sources of greenhouse gas emissions, ISO  一 四0 六 四, and received guidance on contents included in the report, as well as the process of how to organise a GHG inventory and report, define GHG emission boundaries, quantify emissions and greenhouse gas removal, in accordance with ISO  一 四0 六 四- 一: 二0 一 八.

With the legal framework related to the GHG emissions reporting, the training progra妹妹e provided businesses with the most co妹妹on knowledge based on relevant regulations for reporting greenhouse gas emissions, as well as industry-specific determination methods. Through that, listed companies can be ready to fulfil their reporting obligations to relevant authorities.

Besides reporting to serve the information disclosure obligations of enterprises, the implementation of greenhouse gases declaration is also a move for enterprises to review their production and business activities. There will be adjustments and cuts to suit the business's operational goals as well as the prevention and management of operational risks. VNS