Sustainability (ESG) Report Advisory & Preparation in Accordance with GRI Standards
A GRI-recognized sustainability disclosure partner in Vietnam — turning ESG reporting into a strategic language for investors and global markets.
1. Sustainability Reporting — no longer an “optional extra”
In recent years, most leadership teams of Vietnamese enterprises have faced a familiar question from investors, banks or international customers: “Where is your company’s Sustainability Report? Does it follow GRI standards?”. A simple question, yet it reflects a harsh reality: without a report that meets the standards, a business loses access to green capital flows, misses opportunities to sign export contracts, and is classified by rating organizations into the “high non-financial risk” category.
Many companies have tried preparing internal reports on their own, but the results typically stumble along the same script: not knowing where to start, writing at great length but with generic content, figures that do not reconcile across departments, and ultimately shelving the report because it fails the review round of the Stock Exchange or investment funds. That is why Carbon Credit Vietnam’s Sustainability Report Advisory & Preparation service in accordance with GRI standards was created — turning the reporting process into a project with a clear roadmap, assured quality and long-term strategic value.
2. Why do businesses need to prepare a Sustainability Report under GRI?
Preparing an ESG report in accordance with GRI standards is not a box-ticking exercise. It is an investment with long-term returns, delivering at least five concrete and measurable groups of benefits:
Fulfilling disclosure obligations
Under Circular 96/2020/TT-BTC for listed companies, and being prepared for the likelihood that Vietnam will soon mandate standalone sustainability reporting in line with international trends (the EU’s CSRD, global IFRS S1/S2).
Unlocking green capital flows
Green bonds, green credit and international ESG funds all require sustainability reports prepared to international standards as the foundational documentation for ESG due diligence dossiers.
Securing export orders
To the EU, the United States, Japan and South Korea — as multinational corporations (Apple, Samsung, Uniqlo, IKEA…) increasingly tighten ESG disclosure requirements for suppliers across their supply chains.
Improving ESG ratings
On international rating platforms (MSCI ESG, Sustainalytics, FTSE Russell, S&P Global CSA) — a factor that increasingly has a direct impact on the cost of capital and corporate valuation.
Strengthening internal governance
The GRI reporting process forces businesses to review their value chain, identify non-financial risks, and establish sustainable KPIs—high-value management tools that many businesses have never had before.
3. The legal context and market trends in Vietnam
Vietnam’s legal framework for ESG disclosure is being completed at a rapid pace. Circular 96/2020/TT-BTC requires listed companies to disclose sustainability-related information in their Annual Reports. Decree 06/2022/ND-CP, as amended by Decree 119/2025/ND-CP (effective 01/8/2025), establishes a complete mechanism for greenhouse gas emissions governance, the allowance allocation roadmap and the carbon market — all of which must be reflected in the Sustainability Reports of enterprises on the mandatory list.
In the marketplace, 78% of the world’s 250 largest companies (G250) and 68% of the 5,800 largest enterprises across 58 countries are using GRI Standards as their disclosure framework (KPMG Survey of Sustainability Reporting 2022). In Vietnam, GRI is the standard expected by institutional investors, the Stock Exchanges and most rating organizations. GRI-based reporting is increasingly becoming the mandatory “common language” in dialogues between Vietnamese businesses and the world.
4. Who should engage this service
Carbon Credit Vietnam’s Sustainability Report Advisory & Preparation service is designed for:
Companies listed on HOSE/HNX that must comply with Circular 96/2020/TT-BTC and want to elevate their Annual Report into a standalone Sustainability Report aligned with international standards.
Businesses exporting to markets with high ESG disclosure requirements (EU, United States, Japan, South Korea) — particularly in steel, cement, textiles and garments, footwear, seafood, wood products, and electronics.
Companies preparing for an IPO, issuing green bonds, or borrowing green credit — which need a GRI report as the foundational documentation for their capital-raising dossier.
FDI enterprises and domestic corporations whose parent companies require GRI-based reporting for consolidation into the group’s global sustainability report.
Financial institutions, banks and insurance companies building ESG disclosure capabilities and climate risk governance across their lending/investment portfolios.
5. Why choose Carbon Credit Vietnam — a GRI-recognized partner
Carbon Credit Vietnam Joint Stock Company is an Official Member of the GRI Community (GRI Community Member) — the global network of the Global Reporting Initiative bringing together organizations committed to transparency in sustainability reporting. 100% of our key experts hold the GRI Certified Sustainability Professional credential — having completed GRI Academy’s official training program and passed the international certification examination. This is an endorsement that very few consulting firms in Vietnam possess.
Recognition from GRI delivers three direct advantages to our clients: (i) Access to standard updates (GRI 101 Biodiversity 2024, GRI 102 Climate Change 2025, GRI 103 Energy 2025…) as soon as they are issued; (ii) Participation in the GRI Community’s global technical consultation groups, ensuring our advisory methodology always stays aligned with current standards; (iii) Reports we advise on are notified directly to GRI and appear on the GRI Disclosure Database — enhancing credibility with international investors. Alongside our GRI expertise, the Carbon Credit Vietnam team also brings a Finance – Audit background (MBA, CPA, CFA) — ensuring ESG data achieves a level of rigor equivalent to financial data, can be cross-referenced against the Financial Statements, and is ready for any third-party assurance round.
6. The GRI Standards 2021 methodology we apply
GRI Standards 2021 is a three-tier set of standards:
The Universal Standards (GRI 1, 2, 3) apply mandatorily to every reporting organization, the Sector Standards (GRI 11–14) apply to specific industries, and the Topic Standards (GRI 200s, 300s, 400s) apply to each material topic. This methodology revolves around four core concepts — Impact (effects on the outside world), Material Topic, Due Diligence, and Stakeholder.
To achieve the highest level of reporting
“In Accordance with GRI Standards” — the organization must fully meet 9 mandatory requirements, apply 8 reporting principles (Accuracy, Balance, Clarity, Comparability, Completeness, Sustainability Context, Timeliness, Verifiability), publish a GRI Content Index and Statement of Use, and formally notify GRI. Carbon Credit Vietnam accompanies businesses through every one of these requirements — leaving no criterion overlooked.
7. Carbon Credit Vietnam’s 6-step service process
Every Sustainability Report project at Carbon Credit Vietnam is delivered through a rigorous six-step process, closely following the GRI Academy methodology and enriched with practical experience from projects in Vietnam:
Step 1 — Current-State Survey & ESG Gap Analysis
Our team of experts works directly with the Executive Board and key departments (HSE, Human Resources, Finance, Operations, Procurement, Communications) to benchmark the current state of disclosure against the 9 requirements of GRI Standards 2021 and the Vietnamese legal regulations currently in force. The result is a Gap Analysis report that clearly identifies the shortfalls, the priority level for remediation, and an implementation roadmap suited to the company’s capacity — avoiding both “going through the motions” and inefficient scattered investment.
Step 2 — Identifying Material Topics & Shaping the ESG Strategy (Materiality Assessment)
This is the core technical step that many reports on the market treat superficially. We carry out the full 4-step process under GRI 3: understanding the organization’s context and value chain, identifying actual and potential impacts, assessing them against the four criteria of scale–scope–irremediable character–likelihood, and finalizing the list of Material Topics after submission to the Board of Directors/Executive Board for approval. In parallel, we advise on shaping an ESG strategy aligned with the business strategy — ensuring the report does not stand apart from the company’s development direction.
Step 3 — Establishing the Governance Framework, Policies & Internal KPI Set
We build the structure of the ESG Committee/Sustainability Steering Committee, a RACI matrix (who performs – who is accountable – who is consulted – who is informed), and a core set of policies including the Environment & Climate Change Policy, Human Rights & Diversity Policy, Supplier Code of Conduct, and Stakeholder Engagement Regulations. The sustainability KPI system is designed to integrate into each department’s performance evaluation system — turning ESG commitments into concrete responsibilities at every level of management.
Step 4 — Data Collection, Report Drafting & Quality Assurance
We design a standardized data collection toolkit (KPI definitions, units of measurement, calculation formulas, data sources, responsible persons), facilitate cross-departmental workshops, and apply a cross-check process against source documents. After the collection phase, our team of Certified Sustainability Professionals drafts the report in accordance with GRI 2, GRI 3 and the relevant Topic Standards, applying data storytelling thinking — turning dry figures into a compelling narrative. The English version is edited in parallel by specialists fluent in industry terminology, avoiding word-by-word translation errors.
Step 5 — Knowledge-Transfer Training & Support Through Report Publication
A report only delivers value when the internal team understands and masters the methodology behind it. We deliver a 1–2 day knowledge-transfer training course for the internal ESG team, along with a dedicated 90-minute briefing session for the Board of Directors/Executive Board. Afterwards, we support the company in publishing the report through official channels, send the notification to GRI for inclusion on the GRI Disclosure Database, accompany the company in investor dialogue sessions, and respond to questions from ESG rating organizations.
Step 6 — Trend Updates & Continuous Improvement for the Next Cycle
ESG is a journey, not a destination. Carbon Credit Vietnam maintains a regular information channel with clients — updating them on new versions of the GRI Standards, changes to Vietnamese regulations (Decree 119/2025/ND-CP, guiding Circulars), global trends (CSRD, IFRS S1/S2, CBAM), and lessons from newly published reports. Clients join quarterly thematic webinars, receive a professional newsletter, and are entitled to free consultation on any issues that arise before the next reporting cycle.