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(DNTO) – When waste products can become new resources, carbon credits become new currency… businesses have more business models to ‘attract money’ from customers and partners. partners, investors.
New business models are ‘born’
Loc Troi is a large corporation operating in the agricultural sector, with 2021 revenue reaching 10,244 billion VND, including 16 subsidiaries with diverse activities and long-term cooperation agreements with 40 thousand farming households. . By developing a “paperless” transaction model with farmers and management activities through comprehensive digital transformation, Loc Troi has saved a lot of time and costs in the process of building a production chain. rice production with low emissions.
“Loc Troi’s carbon credits initially only met buyer standards, but now they can be sold,” said Mr. Vu Chi Cong, ESG Director of VinaCapital Group.
This person said that 10 years ago, agricultural waste such as sawdust, rice husks, and straw filled the fields, becoming a burden for production businesses, but now, it has become an asset. new resources with businesses that know how to handle them. Some businesses such as Vinh Hoan and Vietnam Food profit greatly from extracting chitosan, gelatin, collagen from shrimp shells, fish skin… for application in cosmetics and pharmaceuticals.
“In addition to new products and services, there are also new business models, businesses can establish subsidiaries in the fields of recycling and processing of production waste. When the demand is great enough, businesses can open their own product lines,” Mr. Cong suggested.
When everyone and everyone talks about sustainable development and where green production is required, according to a VinaCapital representative, consulting services on sustainable development are also a very attractive new business model. “That’s why in the past few years, large auditing firms have spent a lot of money to improve staff expertise and develop consulting services on sustainable development,” Mr. Cong said.
Or as Loc Troi itself, Ms. Pham Thi Ngoc Thuy, Executive Director of the Office of the Private Economic Department (Division IV) also suggested, this group can package the carbon credit business model to become a unit Consulting for other units is also a new business service for the enterprise.
Easy to get money from customers, partners, investors
ESG is often costly in the short term but brings profits and sustainable development in the long term. Photo: T.L.
Changing the current way of doing business is often costly in the short term. However, in the long run, green transformation will help businesses save energy, cut operating costs, reduce water waste, save input materials, optimize the supply chain, and realize Identify potential fields to design ecological product lines…
In addition, businesses can also avoid future taxes and fees related to carbon and waste. From there, optimize operations and profits.
Dr. Le Anh Tu, Director of PwC Vietnam Business Consulting, said that in the context of global climate change, stakeholders have raised their requirements for businesses.
From shareholders and financial and credit providers, they require businesses to provide clearer information on sustainable development practices. Through 2021, 86% of S&P 500 companies regularly issue some type of ESG-related reporting. The Asia-Pacific green bond market is growing exponentially, accounting for 24% of total global issuance in the first quarter of 2021, an increase of 18% over the same period, according to Moody’s.
From the customer side, internet searches for sustainable goods increased by 71% between 2017 and 2021. 32% of consumers are willing to pay more for goods and services from brands that reduce carbon emissions, according to Deloitte 2021. That’s why in 2018, Adidas announced the sale of 5 million pairs of “Parley for the Oceans” shoes. (using plastic collected from marine areas for production). According to Forbes, that will bring in more than $1 billion in revenue (when the price per pair is about $220).
Governments and regulatory agencies around the world are also increasingly placing strict requirements on environmental impacts in trade. For example, the EU Zero Deforestation Regulation (EUDR) applies to a variety of aspects imported products such as cocoa, coffee, palm oil and rubber… to products derived from them, such as chocolate, tires and shoes.
According to a VinaCapital representative, investors are also looking for companies with long-term sustainable strategies and are ready for green transformation. “Businesses that have invested in green technologies will be more attractive to investors because they are less dependent on fossil fuels, which are at greater risk of price increases and supply chain disruptions.” , Mr. Cong commented.
