Dr. Ph\u1ea1m H\u00e0<\/a> – Founding President & CEO, LuxGroup\u00ae<\/a><\/em><\/p>\n Trong nhi\u1ec1u th\u1eadp ni\u00ean, c\u00e1c quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 th\u01b0\u1eddng xoay quanh m\u1ed9t s\u1ed1 bi\u1ebfn s\u1ed1 quen thu\u1ed9c: r\u1ee7i ro, l\u1ee3i nhu\u1eadn, thanh kho\u1ea3n, t\u0103ng tr\u01b0\u1edfng v\u00e0 th\u1eddi gian. Nh\u1eefng nguy\u00ean t\u1eafc \u1ea5y v\u1eabn c\u00f2n nguy\u00ean gi\u00e1 tr\u1ecb, nh\u01b0ng ng\u00e0y nay ch\u00fang kh\u00f4ng c\u00f2n \u0111\u1ee7. M\u1ed7i quy\u1ebft \u0111\u1ecbnh ph\u00e2n b\u1ed5 v\u1ed1n nghi\u00eam t\u00fac ng\u00e0y c\u00e0ng ch\u1ecbu \u1ea3nh h\u01b0\u1edfng b\u1edfi bi\u1ebfn \u0111\u1ed5i kh\u00ed h\u1eadu, quy \u0111\u1ecbnh m\u1edbi, khan hi\u1ebfm t\u00e0i nguy\u00ean, ch\u1ea5t l\u01b0\u1ee3ng qu\u1ea3n tr\u1ecb, kh\u1ea3 n\u0103ng ch\u1ed1ng ch\u1ecbu c\u1ee7a l\u1ef1c l\u01b0\u1ee3ng lao \u0111\u1ed9ng, chuy\u1ec3n \u0111\u1ed5i c\u00f4ng ngh\u1ec7 v\u00e0 k\u1ef3 v\u1ecdng thay \u0111\u1ed5i t\u1eeb kh\u00e1ch h\u00e0ng, nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0 x\u00e3 h\u1ed9i. \u0110i\u1ec1u \u0111\u00f3 kh\u00f4ng c\u00f3 ngh\u0129a l\u00e0 t\u1eeb b\u1ecf k\u1ef7 lu\u1eadt t\u00e0i ch\u00ednh. Ng\u01b0\u1ee3c l\u1ea1i, n\u00f3 \u0111\u00f2i h\u1ecfi ph\u1ea3i m\u1edf r\u1ed9ng t\u1ea7m nh\u00ecn c\u1ee7a t\u00e0i ch\u00ednh. C\u00e2u h\u1ecfi kh\u00f4ng c\u00f2n ch\u1ec9 l\u00e0 \u201cKho\u1ea3n \u0111\u1ea7u t\u01b0 n\u00e0y c\u00f3 t\u1ea1o ra l\u1ee3i nhu\u1eadn h\u1ea5p d\u1eabn kh\u00f4ng?\u201d m\u00e0 tr\u1edf th\u00e0nh \u201cL\u1ee3i nhu\u1eadn \u0111\u00f3 c\u00f3 th\u1ec3 duy tr\u00ec \u0111\u01b0\u1ee3c bao l\u00e2u v\u00e0 trong \u0111i\u1ec1u ki\u1ec7n n\u00e0o?\u201d Ch\u00ednh s\u1ef1 kh\u00e1c bi\u1ec7t \u1ea5y t\u1ea1o n\u00ean tinh th\u1ea7n c\u1ed1t l\u00f5i c\u1ee7a \u0111\u1ea7u t\u01b0 b\u1ec1n v\u1eefng.<\/p>\n S\u1ef1 chuy\u1ec3n \u0111\u1ed5i \u0111\u1ea7u ti\u00ean v\u00e0 quan tr\u1ecdng nh\u1ea5t l\u00e0 ng\u1eebng coi ph\u00e1t tri\u1ec3n b\u1ec1n v\u1eefng nh\u01b0 m\u1ed9t ch\u01b0\u01a1ng tr\u00ecnh t\u00e1ch bi\u1ec7t kh\u1ecfi t\u00e0i ch\u00ednh. Qu\u00e1 th\u01b0\u1eddng xuy\u00ean, c\u00e1c v\u1ea5n \u0111\u1ec1 m\u00f4i tr\u01b0\u1eddng, x\u00e3 h\u1ed9i v\u00e0 qu\u1ea3n tr\u1ecb \u0111\u01b0\u1ee3c th\u1ea3o lu\u1eadn trong m\u1ed9t ph\u00f2ng h\u1ecdp kh\u00e1c v\u1edbi doanh thu, bi\u00ean l\u1ee3i nhu\u1eadn, CapEx, n\u1ee3 v\u00e0 \u0111\u1ecbnh gi\u00e1. Nh\u01b0ng tr\u00ean th\u1ef1c t\u1ebf, ch\u00fang ng\u00e0y c\u00e0ng giao nhau. Hi\u1ec7u qu\u1ea3 n\u0103ng l\u01b0\u1ee3ng c\u00f3 th\u1ec3 l\u00e0m thay \u0111\u1ed5i chi ph\u00ed v\u1eadn h\u00e0nh. Kh\u1ea3 n\u0103ng gi\u1eef ch\u00e2n nh\u00e2n s\u1ef1 c\u00f3 th\u1ec3 t\u00e1c \u0111\u1ed9ng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn n\u0103ng su\u1ea5t v\u00e0 ch\u1ea5t l\u01b0\u1ee3ng d\u1ecbch v\u1ee5. Qu\u1ea3n tr\u1ecb t\u1ed1t c\u00f3 th\u1ec3 gi\u1ea3m r\u1ee7i ro v\u00e0 n\u00e2ng uy t\u00edn. Khan hi\u1ebfm n\u01b0\u1edbc c\u00f3 th\u1ec3 l\u00e0m suy gi\u1ea3m gi\u00e1 tr\u1ecb t\u00e0i s\u1ea3n. R\u1ee7i ro kh\u00ed h\u1eadu c\u00f3 th\u1ec3 l\u00e0m t\u0103ng chi ph\u00ed b\u1ea3o hi\u1ec3m. Quy \u0111\u1ecbnh m\u1edbi c\u00f3 th\u1ec3 bu\u1ed9c doanh nghi\u1ec7p ph\u1ea3i t\u0103ng \u0111\u1ea7u t\u01b0. Khi nh\u1eefng m\u1ed1i li\u00ean h\u1ec7 n\u00e0y \u0111\u01b0\u1ee3c nh\u00ecn th\u1ea5y r\u00f5, sustainability kh\u00f4ng c\u00f2n l\u00e0 ph\u1ea7n ph\u1ee5 c\u1ee7a t\u00e0i ch\u00ednh m\u00e0 tr\u1edf th\u00e0nh m\u1ed9t bi\u1ebfn s\u1ed1 trong ch\u00ednh logic t\u00e0i ch\u00ednh.<\/p>\n \u0110i\u1ec1u gi\u1eef cho \u0111\u1ea7u t\u01b0 b\u1ec1n v\u1eefng kh\u00f4ng tr\u1edf n\u00ean chung chung ch\u00ednh l\u00e0 kh\u00e1i ni\u1ec7m materiality \u2014 t\u00ednh tr\u1ecdng y\u1ebfu. Kh\u00f4ng ph\u1ea3i m\u1ecdi y\u1ebfu t\u1ed1 ESG \u0111\u1ec1u quan tr\u1ecdng nh\u01b0 nhau \u0111\u1ed1i v\u1edbi m\u1ecdi doanh nghi\u1ec7p, v\u00e0 kh\u00f4ng ph\u1ea3i ch\u1ec9 s\u1ed1 n\u00e0o c\u0169ng c\u00f3 gi\u00e1 tr\u1ecb nh\u01b0 nhau. V\u1edbi doanh nghi\u1ec7p c\u00f4ng nghi\u1ec7p, ph\u00e1t th\u1ea3i, c\u01b0\u1eddng \u0111\u1ed9 s\u1eed d\u1ee5ng n\u0103ng l\u01b0\u1ee3ng, an to\u00e0n lao \u0111\u1ed9ng v\u00e0 quy \u0111\u1ecbnh c\u00f3 th\u1ec3 l\u00e0 nh\u1eefng y\u1ebfu t\u1ed1 tr\u1ecdng y\u1ebfu. V\u1edbi m\u1ed9t ng\u00e2n h\u00e0ng, qu\u1ea3n tr\u1ecb, an ninh m\u1ea1ng, chu\u1ea9n m\u1ef1c cho vay v\u00e0 h\u00e0nh vi kinh doanh c\u00f3 th\u1ec3 quan tr\u1ecdng h\u01a1n. V\u1edbi du l\u1ecbch v\u00e0 kh\u00e1ch s\u1ea1n, n\u01b0\u1edbc, \u0111a d\u1ea1ng sinh h\u1ecdc, kh\u1ea3 n\u0103ng ch\u1ed1ng ch\u1ecbu c\u1ee7a \u0111i\u1ec3m \u0111\u1ebfn, ch\u1ea5t l\u01b0\u1ee3ng nh\u00e2n s\u1ef1, quan h\u1ec7 c\u1ed9ng \u0111\u1ed3ng v\u00e0 r\u1ee7i ro kh\u00ed h\u1eadu c\u00f3 th\u1ec3 t\u00e1c \u0111\u1ed9ng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn m\u00f4 h\u00ecnh kinh doanh. V\u00ec v\u1eady, c\u00e2u h\u1ecfi \u0111\u00fang kh\u00f4ng ph\u1ea3i \u201cESG c\u00f3 quan tr\u1ecdng kh\u00f4ng?\u201d m\u00e0 l\u00e0 \u201cY\u1ebfu t\u1ed1 n\u00e0o th\u1ef1c s\u1ef1 l\u00e0m thay \u0111\u1ed5i economics c\u1ee7a doanh nghi\u1ec7p n\u00e0y?\u201d<\/p>\n K\u1ef7 lu\u1eadt \u0111\u00f3 c\u0169ng ph\u1ea3i \u0111\u01b0\u1ee3c gi\u1eef nguy\u00ean khi ph\u00e2n t\u00edch c\u1ed5 phi\u1ebfu ni\u00eam y\u1ebft. M\u1ed9t doanh nghi\u1ec7p c\u00f3 h\u1ed3 s\u01a1 sustainability r\u1ea5t t\u1ed1t ch\u01b0a ch\u1eafc \u0111\u00e3 l\u00e0 m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 t\u1ed1t, c\u0169ng nh\u01b0 m\u1ed9t c\u00f4ng ty c\u00f2n nhi\u1ec1u v\u1ea5n \u0111\u1ec1 ESG ch\u01b0a ch\u1eafc l\u00e0 kho\u1ea3n \u0111\u1ea7u t\u01b0 t\u1ed3i. Gi\u00e1 v\u1eabn quan tr\u1ecdng. K\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1eabn quan tr\u1ecdng. \u0110\u1ecbnh gi\u00e1 v\u1eabn quan tr\u1ecdng. Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n hi\u1ec3u li\u1ec7u c\u00e1c \u0111i\u1ec3m m\u1ea1nh hay \u0111i\u1ec3m y\u1ebfu v\u1ec1 sustainability \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u1ea3n \u00e1nh v\u00e0o gi\u00e1 hay ch\u01b0a, v\u00e0 li\u1ec7u d\u00f2ng ti\u1ec1n t\u01b0\u01a1ng lai c\u00f3 th\u1ec3 di\u1ec5n bi\u1ebfn kh\u00e1c v\u1edbi nh\u1eefng g\u00ec th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i \u0111ang k\u1ef3 v\u1ecdng hay kh\u00f4ng. M\u1ed9t doanh nghi\u1ec7p \u0111\u00e1ng ng\u01b0\u1ee1ng m\u1ed9 c\u00f3 th\u1ec3 b\u1ecb \u0111\u1ecbnh gi\u00e1 qu\u00e1 cao. M\u1ed9t doanh nghi\u1ec7p \u0111ang chuy\u1ec3n \u0111\u1ed5i m\u1ea1nh c\u00f3 th\u1ec3 b\u1ecb th\u1ecb tr\u01b0\u1eddng \u0111\u00e1nh gi\u00e1 th\u1ea5p. V\u00ec v\u1eady, \u0111\u1ea7u t\u01b0 b\u1ec1n v\u1eefng kh\u00f4ng thay th\u1ebf ph\u00e2n t\u00edch c\u01a1 b\u1ea3n; n\u00f3 l\u00e0m cho ph\u00e2n t\u00edch c\u01a1 b\u1ea3n s\u00e2u h\u01a1n.<\/p>\n \u1ede th\u1ecb tr\u01b0\u1eddng t\u01b0 nh\u00e2n, c\u00e2u h\u1ecfi c\u00f2n tr\u1edf n\u00ean th\u00fa v\u1ecb h\u01a1n v\u00ec nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 tr\u1ef1c ti\u1ebfp t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn doanh nghi\u1ec7p. Private equity, venture capital v\u00e0 sustainable debt kh\u00f4ng ch\u1ec9 l\u00e0 c\u00e1c k\u00eanh cung c\u1ea5p v\u1ed1n; ch\u00fang c\u00f3 th\u1ec3 thay \u0111\u1ed5i qu\u1ea3n tr\u1ecb, h\u1ec7 th\u1ed1ng khuy\u1ebfn kh\u00edch, CapEx, c\u00f4ng ngh\u1ec7, m\u00f4 h\u00ecnh v\u1eadn h\u00e0nh v\u00e0 chi\u1ebfn l\u01b0\u1ee3c t\u0103ng tr\u01b0\u1edfng. \u0110i\u1ec1u n\u00e0y d\u1eabn t\u1edbi kh\u00e1i ni\u1ec7m additionality \u2014 t\u00ednh b\u1ed5 sung. N\u1ebfu t\u00e1c \u0111\u1ed9ng t\u00edch c\u1ef1c v\u1eabn x\u1ea3y ra ngay c\u1ea3 khi kh\u00f4ng c\u00f3 kho\u1ea3n \u0111\u1ea7u t\u01b0 n\u00e0y, th\u00ec v\u1ed1n m\u1edbi c\u00f3 th\u1ef1c s\u1ef1 t\u1ea1o ra thay \u0111\u1ed5i kh\u00f4ng? \u0110\u00e2y l\u00e0 ti\u00eau chu\u1ea9n cao h\u01a1n nhi\u1ec1u so v\u1edbi vi\u1ec7c \u0111\u01a1n gi\u1ea3n mua m\u1ed9t doanh nghi\u1ec7p v\u1ed1n \u0111\u00e3 \u201cxanh\u201d r\u1ed3i b\u00e1o c\u00e1o l\u1ea1i nh\u1eefng k\u1ebft qu\u1ea3 s\u1eb5n c\u00f3. C\u00e2u h\u1ecfi nghi\u00eam t\u00fac ph\u1ea3i l\u00e0: \u0110i\u1ec1u g\u00ec \u0111\u00e3 thay \u0111\u1ed5i v\u00ec kho\u1ea3n v\u1ed1n n\u00e0y \u0111\u01b0\u1ee3c tri\u1ec3n khai? N\u0103ng l\u1ef1c n\u00e0o \u0111\u01b0\u1ee3c h\u00ecnh th\u00e0nh? R\u1ee7i ro n\u00e0o \u0111\u01b0\u1ee3c gi\u1ea3m? K\u1ebft qu\u1ea3 n\u00e0o tr\u1edf n\u00ean kh\u1ea3 thi?<\/p>\n T\u1eeb \u0111\u00f3, th\u00e1ch th\u1ee9c l\u1edbn nh\u1ea5t xu\u1ea5t hi\u1ec7n: \u0111o l\u01b0\u1eddng t\u00e1c \u0111\u1ed9ng. N\u00f3i r\u1eb1ng doanh nghi\u1ec7p gi\u1ea3m ph\u00e1t th\u1ea3i, t\u1ea1o vi\u1ec7c l\u00e0m, h\u1ed7 tr\u1ee3 c\u1ed9ng \u0111\u1ed3ng hay t\u1ea1o t\u00e1c \u0111\u1ed9ng x\u00e3 h\u1ed9i l\u00e0 t\u01b0\u01a1ng \u0111\u1ed1i d\u1ec5. Nh\u01b0ng c\u00e1c c\u00e2u h\u1ecfi kh\u00f3 h\u01a1n m\u1edbi th\u1ef1c s\u1ef1 c\u00f3 \u00fd ngh\u0129a. Bao nhi\u00eau t\u00e1c \u0111\u1ed9ng \u0111\u00e3 \u0111\u01b0\u1ee3c t\u1ea1o ra? So v\u1edbi baseline n\u00e0o? Trong kho\u1ea3ng th\u1eddi gian n\u00e0o? Ai th\u1ef1c s\u1ef1 t\u1ea1o ra thay \u0111\u1ed5i? Li\u1ec7u k\u1ebft qu\u1ea3 \u0111\u00f3 c\u00f3 x\u1ea3y ra d\u00f9 kh\u00f4ng c\u00f3 kho\u1ea3n \u0111\u1ea7u t\u01b0? C\u00f3 t\u00e1c \u0111\u1ed9ng ti\u00eau c\u1ef1c n\u00e0o \u0111i k\u00e8m hay kh\u00f4ng? D\u1eef li\u1ec7u \u0111\u00e1ng tin \u0111\u1ebfn m\u1ee9c n\u00e0o? \u0110\u1ea7u t\u01b0 b\u1ec1n v\u1eefng ch\u1ec9 tr\u1edf n\u00ean nghi\u00eam t\u00fac khi chuy\u1ec3n t\u1eeb activity sang outcome, t\u1eeb correlation sang causation, v\u00e0 t\u1eeb narrative sang measurable effect. M\u1ee5c ti\u00eau kh\u00f4ng ph\u1ea3i bi\u1ebfn m\u1ecdi kh\u00eda c\u1ea1nh c\u1ee7a kinh doanh th\u00e0nh m\u1ed9t con s\u1ed1 duy nh\u1ea5t, m\u00e0 l\u00e0 khi\u1ebfn nh\u1eefng tuy\u00ean b\u1ed1 v\u1ec1 impact c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ki\u1ec3m ch\u1ee9ng.<\/p>\n R\u1ee7i ro kh\u00ed h\u1eadu l\u00e0 v\u00ed d\u1ee5 r\u00f5 nh\u1ea5t cho th\u1ea5y sustainability \u0111ang tr\u1edf th\u00e0nh finance. Physical risks nh\u01b0 l\u0169 l\u1ee5t, b\u00e3o, nhi\u1ec7t \u0111\u1ed9 c\u1ef1c \u0111oan, khan hi\u1ebfm n\u01b0\u1edbc, n\u01b0\u1edbc bi\u1ec3n d\u00e2ng v\u00e0 gi\u00e1n \u0111o\u1ea1n h\u1ea1 t\u1ea7ng c\u00f3 th\u1ec3 ph\u00e1 h\u1ee7y t\u00e0i s\u1ea3n v\u00e0 ho\u1ea1t \u0111\u1ed9ng. Transition risks nh\u01b0 \u0111\u1ecbnh gi\u00e1 carbon, c\u00f4ng ngh\u1ec7 m\u1edbi, quy \u0111\u1ecbnh thay \u0111\u1ed5i, h\u00e0nh vi ti\u00eau d\u00f9ng m\u1edbi v\u00e0 \u0111i\u1ec1u ki\u1ec7n t\u00e0i tr\u1ee3 m\u1edbi c\u00f3 th\u1ec3 khi\u1ebfn m\u1ed9t m\u00f4 h\u00ecnh kinh doanh m\u1ea5t kh\u1ea3 n\u0103ng c\u1ea1nh tranh. C\u00e1c r\u1ee7i ro n\u00e0y cu\u1ed1i c\u00f9ng \u0111\u1ec1u ph\u1ea3i xu\u1ea5t hi\u1ec7n \u0111\u00e2u \u0111\u00f3 trong m\u00f4 h\u00ecnh t\u00e0i ch\u00ednh. Ch\u00fang c\u00f3 th\u1ec3 l\u00e0m gi\u1ea3m doanh thu, t\u0103ng Opex, \u0111\u00f2i h\u1ecfi CapEx m\u1edbi, n\u00e2ng ph\u00ed b\u1ea3o hi\u1ec3m, t\u0103ng chi ph\u00ed vay ho\u1eb7c l\u00e0m gi\u1ea3m terminal value. V\u00ec v\u1eady, climate analysis kh\u00f4ng ph\u1ea3i m\u1ed9t b\u00e0i t\u1eadp ngo\u00e0i valuation; n\u00f3 l\u00e0 m\u1ed9t \u0111\u1ea7u v\u00e0o c\u1ee7a valuation.<\/p>\n Nh\u01b0ng chuy\u1ec3n \u0111\u1ed5i kh\u00ed h\u1eadu kh\u00f4ng ch\u1ec9 t\u1ea1o ra r\u1ee7i ro. N\u00f3 c\u0169ng m\u1edf ra c\u01a1 h\u1ed9i. N\u0103ng l\u01b0\u1ee3ng t\u00e1i t\u1ea1o, hi\u1ec7u qu\u1ea3 n\u0103ng l\u01b0\u1ee3ng, giao th\u00f4ng s\u1ea1ch, m\u00f4 h\u00ecnh tu\u1ea7n ho\u00e0n, c\u00f4ng ngh\u1ec7 gi\u1ea3m carbon v\u00e0 h\u1ea1 t\u1ea7ng c\u00f3 kh\u1ea3 n\u0103ng ch\u1ed1ng ch\u1ecbu \u0111\u1ec1u c\u00f3 th\u1ec3 tr\u1edf th\u00e0nh nh\u1eefng l\u0129nh v\u1ef1c \u0111\u1ea7u t\u01b0 h\u1ea5p d\u1eabn n\u1ebfu gi\u1ea3i quy\u1ebft \u0111\u01b0\u1ee3c v\u1ea5n \u0111\u1ec1 th\u1ef1c b\u1eb1ng m\u00f4 h\u00ecnh kinh t\u1ebf kh\u1ea3 thi. T\u1eeb g\u00f3c nh\u00ecn CEO, t\u1eeb kh\u00f3a quan tr\u1ecdng \u1edf \u0111\u00e2y l\u00e0 viability \u2014 t\u00ednh kh\u1ea3 thi. M\u1ed9t gi\u1ea3i ph\u00e1p \u201cxanh\u201d ch\u1ec9 c\u00f3 th\u1ec3 m\u1edf r\u1ed9ng quy m\u00f4 khi economics \u0111\u1ee7 m\u1ea1nh. V\u1ed1n s\u1ebd kh\u00f4ng ch\u1ea3y m\u00e3i v\u00e0o nh\u1eefng m\u00f4 h\u00ecnh ch\u1ec9 d\u1ef1a tr\u00ean thi\u1ec7n ch\u00ed. Capital scales what works. V\u00e0 trong d\u00e0i h\u1ea1n, c\u00e1c gi\u1ea3i ph\u00e1p b\u1ec1n v\u1eefng c\u00f3 kh\u1ea3 n\u0103ng t\u1ed3n t\u1ea1i nh\u1ea5t s\u1ebd l\u00e0 nh\u1eefng m\u00f4 h\u00ecnh v\u1eeba t\u1ea1o impact, v\u1eeba c\u00f3 n\u0103ng l\u1ef1c t\u1ea1o cash flow th\u1ef1c s\u1ef1.<\/p>\n C\u00e2u h\u1ecfi chi\u1ebfn l\u01b0\u1ee3c s\u00e2u h\u01a1n kh\u00f4ng ph\u1ea3i doanh nghi\u1ec7p c\u00f3 bao nhi\u00eau m\u1ee5c ti\u00eau ESG, m\u00e0 l\u00e0 nh\u1eefng m\u1ee5c ti\u00eau \u1ea5y c\u00f3 \u0111\u01b0\u1ee3c ph\u1ea3n \u00e1nh trong capital allocation hay kh\u00f4ng. N\u1ebfu doanh nghi\u1ec7p n\u00f3i r\u1eb1ng climate resilience l\u00e0 \u01b0u ti\u00ean, CapEx \u0111\u00e3 thay \u0111\u1ed5i ch\u01b0a? N\u1ebfu qu\u1ea3n tr\u1ecb nh\u00e2n s\u1ef1 l\u00e0 tr\u1ecdng t\u00e2m, investment v\u00e0o con ng\u01b0\u1eddi c\u00f3 thay \u0111\u1ed5i kh\u00f4ng? N\u1ebfu c\u1ed9ng \u0111\u1ed3ng l\u00e0 m\u1ed9t ph\u1ea7n c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c, li\u1ec7u \u0111i\u1ec1u \u0111\u00f3 c\u00f3 \u0111\u01b0\u1ee3c nh\u00fang v\u00e0o operations hay ch\u1ec9 d\u1eebng \u1edf philanthropy? \u0110\u00e2y l\u00e0 l\u00fac theory of change tr\u1edf n\u00ean h\u1eefu \u00edch. Capital t\u1ea1o ra activities; activities t\u1ea1o ra outputs; outputs t\u1ea1o ra outcomes; v\u00e0 outcomes c\u00f3 th\u1ec3 t\u1ea1o ra impact d\u00e0i h\u1ea1n. Chu\u1ed7i nh\u00e2n qu\u1ea3 ph\u1ea3i \u0111\u1ee7 thuy\u1ebft ph\u1ee5c. N\u1ebfu l\u1eddi n\u00f3i v\u1ec1 sustainability kh\u00f4ng \u0111\u01b0\u1ee3c ph\u1ea3n \u00e1nh trong n\u01a1i \u0111\u1ed3ng v\u1ed1n th\u1ef1c s\u1ef1 \u0111i t\u1edbi, chi\u1ebfn l\u01b0\u1ee3c \u0111\u00f3 ch\u01b0a tr\u1edf th\u00e0nh hi\u1ec7n th\u1ef1c.<\/p>\n V\u1edbi CEO v\u00e0 CFO, \u0111i\u1ec1u n\u00e0y d\u1eabn \u0111\u1ebfn m\u1ed9t kh\u00e1i ni\u1ec7m r\u1ed9ng h\u01a1n v\u1ec1 return. T\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng h\u1ecfi m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 t\u1ea1o ra bao nhi\u00eau l\u1ee3i nhu\u1eadn. Sustainable finance b\u1ed5 sung th\u00eam hai chi\u1ec1u: l\u1ee3i nhu\u1eadn \u0111\u00f3 c\u00f3 kh\u1ea3 n\u0103ng ch\u1ed1ng ch\u1ecbu \u0111\u1ebfn \u0111\u00e2u v\u00e0 n\u00f3 t\u1ea1o ra h\u1ec7 qu\u1ea3 g\u00ec. M\u1ed9t m\u1ee9c return cao nh\u01b0ng d\u1ef1a tr\u00ean vi\u1ec7c khai th\u00e1c c\u1ea1n ki\u1ec7t t\u00e0i nguy\u00ean, l\u00e0m suy gi\u1ea3m ni\u1ec1m tin, b\u1ecf qua r\u1ee7i ro ph\u00e1p l\u00fd hay ph\u00e1 h\u1ecfng ch\u00ednh h\u1ec7 th\u1ed1ng t\u1ea1o ra cash flow c\u00f3 th\u1ec3 kh\u00f4ng gi\u00e1 tr\u1ecb nh\u01b0 v\u1ebb ngo\u00e0i ban \u0111\u1ea7u. Th\u00e1ch th\u1ee9c kh\u00f4ng ph\u1ea3i ch\u1ecdn gi\u1eefa return v\u00e0 responsibility. Th\u00e1ch th\u1ee9c l\u00e0 hi\u1ec3u m\u1ed1i quan h\u1ec7 gi\u1eefa ch\u00fang. Return ph\u1ea3n \u00e1nh n\u0103ng su\u1ea5t kinh t\u1ebf. Resilience ph\u1ea3n \u00e1nh kh\u1ea3 n\u0103ng duy tr\u00ec gi\u00e1 tr\u1ecb qua bi\u1ebfn \u0111\u1ed9ng. Impact ph\u1ea3n \u00e1nh nh\u1eefng thay \u0111\u1ed5i m\u00e0 kho\u1ea3n \u0111\u1ea7u t\u01b0 t\u1ea1o ra ngo\u00e0i b\u00e1o c\u00e1o t\u00e0i ch\u00ednh.<\/p>\n \u0110\u00f3 l\u00e0 l\u00fd do \u0111\u1ea7u t\u01b0 b\u1ec1n v\u1eefng kh\u00f4ng n\u00ean b\u1ecb thu h\u1eb9p th\u00e0nh ESG compliance hay m\u1ed9t ng\u00f4n ng\u1eef truy\u1ec1n th\u00f4ng m\u1edbi. \u1ede c\u1ea5p \u0111\u1ed9 t\u1ed1t nh\u1ea5t, n\u00f3 l\u00e0 m\u1ed9t h\u00ecnh th\u1ee9c k\u1ef7 lu\u1eadt \u0111\u1ea7u t\u01b0 cao h\u01a1n. N\u00f3 bu\u1ed9c ng\u01b0\u1eddi l\u00e3nh \u0111\u1ea1o ph\u1ea3i h\u1ecfi y\u1ebfu t\u1ed1 sustainability n\u00e0o th\u1ef1c s\u1ef1 material, ch\u00fang \u1ea3nh h\u01b0\u1edfng ra sao \u0111\u1ebfn cash flow v\u00e0 cost of capital, impact c\u00f3 \u0111\u01b0\u1ee3c \u0111o l\u01b0\u1eddng kh\u00f4ng, climate risk n\u1eb1m \u1edf \u0111\u00e2u trong asset base, v\u00e0 nh\u1eefng cam k\u1ebft \u0111\u00e3 c\u00f4ng b\u1ed1 c\u00f3 \u0111\u01b0\u1ee3c ph\u1ea3n \u00e1nh trong ph\u00e2n b\u1ed5 v\u1ed1n hay kh\u00f4ng. N\u00f3 c\u0169ng bu\u1ed9c doanh nghi\u1ec7p ph\u00e2n bi\u1ec7t gi\u1eefa temporary return v\u00e0 durable value. Trong m\u1ed9t th\u1ebf gi\u1edbi m\u00e0 c\u00f4ng ngh\u1ec7, quy \u0111\u1ecbnh, th\u1ecb tr\u01b0\u1eddng v\u00e0 k\u1ef3 v\u1ecdng x\u00e3 h\u1ed9i thay \u0111\u1ed5i nhanh, \u0111\u00e2y c\u00f3 th\u1ec3 l\u00e0 m\u1ed9t trong nh\u1eefng kh\u00e1c bi\u1ec7t quan tr\u1ecdng nh\u1ea5t gi\u1eefa doanh nghi\u1ec7p t\u1ea1o l\u1ee3i nhu\u1eadn h\u00f4m nay v\u00e0 doanh nghi\u1ec7p c\u00f2n kh\u1ea3 n\u0103ng t\u1ea1o l\u1ee3i nhu\u1eadn ng\u00e0y mai.<\/p>\n Nh\u00ecn theo c\u00e1ch \u0111\u00f3, Sustainable Investing<\/em> tr\u1edf th\u00e0nh b\u01b0\u1edbc ph\u00e1t tri\u1ec3n t\u1ef1 nhi\u00ean ti\u1ebfp theo c\u1ee7a financial leadership. Leading with Finance<\/em> \u0111\u1eb7t c\u00e2u h\u1ecfi: Where should the next dollar go?<\/strong> Strategic Financial Analysis<\/em> h\u1ecfi ti\u1ebfp: Which business or opportunity deserves that dollar?<\/strong> V\u00e0 Sustainable Investing<\/em> ti\u1ebfn th\u00eam m\u1ed9t b\u01b0\u1edbc: What kind of long-term value will that dollar create?<\/strong> Ba c\u00e2u h\u1ecfi \u1ea5y t\u1ea1o th\u00e0nh m\u1ed9t tri\u1ebft l\u00fd l\u00e3nh \u0111\u1ea1o r\u1ed9ng h\u01a1n: hi\u1ec3u v\u1ed1n, ph\u00e2n t\u00edch gi\u00e1 tr\u1ecb v\u00e0 ph\u00e2n b\u1ed5 v\u1ed1n cho gi\u00e1 tr\u1ecb b\u1ec1n v\u1eefng. Ng\u01b0\u1eddi ph\u00e2n b\u1ed5 v\u1ed1n t\u1ed1t nh\u1ea5t kh\u00f4ng ch\u1ec9 t\u00ecm m\u1ee9c return cao nh\u1ea5t, m\u00e0 hi\u1ec3u \u0111\u01b0\u1ee3c ch\u1ea5t l\u01b0\u1ee3ng, kh\u1ea3 n\u0103ng ch\u1ed1ng ch\u1ecbu v\u00e0 h\u1ec7 qu\u1ea3 c\u1ee7a m\u1ee9c return \u0111\u00f3.<\/p>\n V\u00ec v\u1eady, t\u01b0\u01a1ng lai c\u1ee7a leadership s\u1ebd \u0111\u00f2i h\u1ecfi nhi\u1ec1u h\u01a1n financial literacy. N\u00f3 c\u1ea7n kh\u1ea3 n\u0103ng k\u1ebft n\u1ed1i strategy, finance, sustainability v\u00e0 impact trong c\u00f9ng m\u1ed9t logic th\u1ed1ng nh\u1ea5t. \u0110\u00e2y ch\u00ednh l\u00e0 l\u1eddi h\u1ee9a s\u00e2u s\u1eafc nh\u1ea5t c\u1ee7a \u0111\u1ea7u t\u01b0 b\u1ec1n v\u1eefng: kh\u00f4ng ph\u1ea3i \u0111\u1ea7u t\u01b0 \u00edt nghi\u00eam ng\u1eb7t h\u01a1n, m\u00e0 \u0111\u1ea7u t\u01b0 v\u1edbi t\u1ea7m nh\u00ecn d\u00e0i h\u01a1n, tr\u01b0\u1eddng quan s\u00e1t r\u1ed9ng h\u01a1n v\u00e0 s\u1ef1 hi\u1ec3u bi\u1ebft s\u00e2u h\u01a1n v\u1ec1 \u0111i\u1ec1u g\u00ec khi\u1ebfn gi\u00e1 tr\u1ecb c\u00f3 th\u1ec3 t\u1ed3n t\u1ea1i. Kh\u00f4ng ph\u1ea3i l\u1ef1a ch\u1ecdn gi\u1eefa l\u1ee3i nhu\u1eadn v\u00e0 m\u1ee5c \u0111\u00edch, m\u00e0 nh\u1eadn ra r\u1eb1ng trong nhi\u1ec1u tr\u01b0\u1eddng h\u1ee3p, l\u1ee3i nhu\u1eadn d\u00e0i h\u1ea1n ph\u1ee5 thu\u1ed9c v\u00e0o m\u1ee5c \u0111\u00edch, kh\u1ea3 n\u0103ng ch\u1ed1ng ch\u1ecbu, qu\u1ea3n tr\u1ecb t\u1ed1t v\u00e0 vi\u1ec7c s\u1eed d\u1ee5ng ngu\u1ed3n l\u1ef1c c\u00f3 tr\u00e1ch nhi\u1ec7m<\/strong>.<\/p>\n Cu\u1ed1i c\u00f9ng, c\u00e2u h\u1ecfi l\u1edbn nh\u1ea5t kh\u00f4ng c\u00f2n l\u00e0 \u0111\u1ed3ng v\u1ed1n c\u00f3 th\u1ec3 t\u1ea1o ra bao nhi\u00eau gi\u00e1 tr\u1ecb trong qu\u00fd t\u1edbi hay n\u0103m t\u1edbi. C\u00e2u h\u1ecfi l\u00e0 gi\u00e1 tr\u1ecb \u0111\u00f3 c\u00f3 \u0111\u1ee7 m\u1ea1nh \u0111\u1ec3 t\u1ed3n t\u1ea1i qua bi\u1ebfn \u0111\u1ed9ng, chuy\u1ec3n \u0111\u1ed5i v\u00e0 thay \u0111\u1ed5i c\u1ee7a m\u1ed9t th\u1ebf gi\u1edbi ng\u00e0y c\u00e0ng b\u1ea5t \u0111\u1ecbnh hay kh\u00f4ng. \u0110\u00f3 l\u00e0 b\u01b0\u1edbc chuy\u1ec3n t\u1eeb financial value<\/strong> sang durable value<\/strong> \u2014 t\u1eeb vi\u1ec7c t\u00ecm ki\u1ebfm l\u1ee3i nhu\u1eadn \u0111\u1ebfn ki\u1ebfn t\u1ea1o m\u1ed9t n\u1ec1n t\u1ea3ng \u0111\u1ec3 l\u1ee3i nhu\u1eadn c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c \u0111\u01b0\u1ee3c t\u1ea1o ra trong t\u01b0\u01a1ng lai. V\u00e0 \u0111\u00f3 c\u0169ng l\u00e0 \u0111i\u1ec1u khi\u1ebfn \u0111\u1ea7u t\u01b0 b\u1ec1n v\u1eefng tr\u1edf th\u00e0nh m\u1ed9t ph\u1ea7n kh\u00f4ng th\u1ec3 t\u00e1ch r\u1eddi c\u1ee7a ngh\u1ec7 thu\u1eadt ph\u00e2n b\u1ed5 v\u1ed1n hi\u1ec7n \u0111\u1ea1i.<\/p>\n","protected":false},"excerpt":{"rendered":" V\u00ec sao th\u1ebf h\u1ec7 ph\u00e2n b\u1ed5 v\u1ed1n ti\u1ebfp theo ph\u1ea3i k\u1ebft n\u1ed1i l\u1ee3i nhu\u1eadn, kh\u1ea3…<\/p>\n","protected":false},"author":5,"featured_media":28634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[184,535,545],"tags":[284,261,369,262],"_links":{"self":[{"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/posts\/28636"}],"collection":[{"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/comments?post=28636"}],"version-history":[{"count":2,"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/posts\/28636\/revisions"}],"predecessor-version":[{"id":28638,"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/posts\/28636\/revisions\/28638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/media\/28634"}],"wp:attachment":[{"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/media?parent=28636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/categories?post=28636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/luxgroup.vn\/vi\/wp-json\/wp\/v2\/tags?post=28636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}