The Development of ESG in Vietnam’s Industrial Parks and the Application of Carbon Neutral Technology

During this year’s National People’s Congress, General Secretary of the Communist Party and President Xi Jinping stated, “New productive forces are inherently green productive forces. We must accelerate the green transformation of development methods to assist in achieving peak carbon and carbon neutrality.” Given this strategic direction and international consensus, the importance of Environmental, Social, and Governance (ESG) frameworks for enterprises lies in their ability to align with policy and market trends, enhance financing capabilities, improve risk management, seize market opportunities, and foster human capital development.

At BW, ESG is an integral part of our operations, supporting the elements of our corporate culture and even influencing our choice of partners. We set goals and establish a focus based on ESG, with sustainability and the environment, employees and the community, and corporate governance and management being at the core of all our work. In the industrial park sector in Vietnam, BW has been at the forefront, with many of our projects considering LEED certification.

Among them, BW Phu Nghia Logistics Park has earned LEED Silver certification, while several other projects—BW Xuyen Industrial and Logistics Park Phases I and II, BW Vinh Loc Industrial Park, BW Bac Ninh Industrial and Logistics Park, and BW Thuan Dao Logistics Park—are on track to meet LEED Gold certification standards. Despite the current legal framework in Vietnam not strongly supporting rooftop solar projects for industrial real estate operators, BW remains ahead of the curve and has already piloted two rooftop solar projects in BW My Phuoc 3 Industrial Park and BW Tan Phu Trung Logistics Park.

BW’s portfolio encompasses 50 projects across Vietnam, predominantly industrial and warehouse developments. Over the past two years, Chinese investors have accounted for more than 60% of the customer base. Recognizing China’s leadership in the green energy sector, BW aims to leverage this visit to gain insights into the latest technological advancements in China, particularly in factory operations and green energy, to better serve our clients