Exploring the Status Quo of Adopting the 17 UN SDGs in a Developing Country—Evidence from Vietnam

Helfaya, Akrum; Bui, Phuong

Abstract

This paper develops the multiple-theoretical framework of legitimacy, stakeholders, and voluntary perspective to assess the adoption of Vietnamese listed firms to the 17 United Nations’ Sustainable Development Goals (SDGs). The paper’s primary objective is to use content analysis to discover the status quo of the SDGs practices of the largest 100 Vietnamese listed firms on the two biggest Vietnamese stock exchanges (Ho Chi Minh Stock Exchange–HOSE and Hanoi Stock Exchange–HNX). By drawing a unique framework, the paper contributes to the extant literature review of SDG-related research. Our research framework enables corporate decision-makers significantly access corporate SDG adoptions and the implementation process. With the direct pressure of stakeholders, high environmental sensitivity industries are keen on disclosing SDG-related information. Notwithstanding, the findings reveal that Vietnamese listed firms indicate “green talks” in their corporate reporting rather than “green actions”. Thus, our findings encourage firms to engage in SDGs through substantive sustainability strategies and need greater attention from governments, practitioners, and policymakers.

• Journal Article Type: Article
• Acceptance Date: Nov 14, 2022
• Online Publication Date: Nov 18, 2022
• Deposit Date: May 30, 2023
• Journal: Sustainability
• Publisher: MDPI
• Peer Reviewed: Peer Reviewed
• Volume: 14
• Issue: 22
• Pages: 15358
• DOI: https://doi.org/10.3390/su142215358
• Keywords: Management, Monitoring, Policy and Law; Renewable Energy, Sustainability and the Environment; Geography, Planning and Development; Building and Construction