Circular 13/2023/TT-BKHDT on Guidelines for Promoting Financial Resources for Sustainable Business Activities.
Circular 13/2023/TT-BKHDT guiding how to promote financial resources for sustainable business
Based on the provisions of Article 11 of Circular 13/2023/TT-BKHDT guiding the mechanism for organizing the implementation of the "Program to support private sector enterprises in sustainable business for the period 2022-2025" attached to Decision 167/QD-TTg issued by the Minister of Planning and Investment, regulations on promoting financial resources for sustainable business are as follows:
(1) Research and develop financial and credit products and services for sustainable business; mobilize domestic and foreign financial resources to support sustainable business; develop an information platform connecting sustainable business enterprise customers with credit institutions and investors.
(2) Organize conferences and seminars to consult on financial and credit products and services for sustainable business.
Circular 13/2023/TT-BKHDT guiding how to promote financial resources for sustainable business
What is the sustainable business model?
Based on the provisions of Clause 1, Article 2 of Circular 13/2023/TT-BKHDT, sustainable business can be understood as the business models specified in Program 167 (Program to support private sector enterprises in sustainable business for the period 2022-2025 specified in Decision 167/QD-TTg dated February 08, 2022, by the Prime Minister of the Government of Vietnam), including:
- The circular economy business model is a business model in which the stages of strategy building, corporate vision, design activities, production, consumption, and services aim to reduce the extraction of raw materials, fuels, and materials, extend product life cycles, limit waste generation, and minimize adverse impacts on the environment as stipulated in Article 142 of the Environmental Protection Law 2020; and implement one or more measures to achieve the circular economy criteria as stipulated in Article 138 of Decree 08/2022/ND-CP stipulating the details of some articles of the Environmental Protection Law;
- The inclusive business model is a business model that mobilizes low-income people to participate in the enterprise's value chain, production, and business facilities; in which low-income people can participate as suppliers, customers, distributors, or workers involved in production and business activities creating shared values;
- The sustainable development business model according to the environmental, social, and governance framework (hereinafter referred to as the ESG business model) is a business model oriented toward sustainable development, ensuring harmony in sustainable aspects of the economy, environmental protection, climate change response, resolving social security issues, and governance.
What are the principles of implementing the Program to support private sector enterprises in sustainable business for the period 2022-2025?
Based on the provisions of Article 3 of Circular 13/2023/TT-BKHDT, the principles of implementing the Program to support private sector enterprises in sustainable business for the period 2022-2025 stipulated in Decision No. 167/QD-TTg dated February 08, 2022, by the Prime Minister of the Government of Vietnam are as follows:
(1) Principles for evaluating and using the results of sustainable business model application in enterprises:
- The evaluation of the degree of sustainable business model application in enterprises is based on the voluntary principle;
- Organizations promoting sustainable business development use the tools published on the Enterprise Portal at the address http://business.gov.vn or develop tools satisfying the provisions of Article 4 of Circular 13/2023/TT-BKHDT to evaluate and support sustainable business enterprises. Enterprises scoring 50% or more of the total points of the tools will be supported according to the provisions of Articles 13 and 14 of Circular 13/2023/TT-BKHDT.
(2) Based on the ability to balance resources and support orientation priorities in the year, organizations promoting sustainable business development provide support to sustainable business enterprises according to the following principles:
- Sustainable business enterprises that register their needs first will be supported first;
- Sustainable business enterprises led by women, those employing many female workers, and social enterprises according to the law will be supported first.
(3) The implementation of support activities from the state budget follows the provisions of Circular 13/2023/TT-BKHDT and the Circular of the Ministry of Finance guiding the management and use of state budget funds for implementing Program 167.
(4) The implementation of support activities from contribution and sponsorship funds adheres to the agreement with the sponsor or the contributor (if there is an agreement) or according to the regulations of the organization promoting sustainable business development (if there is no agreement). The implementation mechanism (process, procedures, content and implementation costs, responsibilities of related parties) and the management and use of contribution and sponsorship funds must comply with the laws of Vietnam.
Circular 13/2023/TT-BKHDT will come into effect from January 27, 2024.
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