Latest news with #VietnamCountryReport
Yahoo
17-04-2025
- Business
- Yahoo
Cascale, Aii report shows Vietnam gains ground in apparel's low-carbon shift
The report titled "Vietnam Country Report: Macroeconomic, Socioeconomic, and Industry Analysis" provides an in-depth look at Vietnam's economic and industrial landscape. It is the first of a series that integrates insights from Cascale's sustainability assessment tool, Higg Facility Environment Module (FEM), exclusively featured on Worldly. An analysis of over 1,200 verified Higg FEM submissions from 2023 reveals a significant carbon footprint due to coal usage, with 12% of facilities directly using coal and 94% dependent on Vietnam's coal-heavy electricity grid. Despite this, renewable energy makes up less than 2% of energy consumption within the sector, presenting a substantial opportunity for transitioning to greener practices as outlined in the Industry Decarbonization Roadmap (IDR) by Cascale and Aii. As per the report, Vietnam's economic forecast shows a promising 6.5% growth rate by 2025, surpassing its regional counterparts. The manufacturing industry remains a cornerstone of this growth, accounting for nearly 23.88% of GDP in 2023. Foreign Direct Investment (FDI) also reflects strong investor confidence, with $31.4bn recorded in the initial 11 months of 2024. The apparel and footwear industry generates three million workers and was estimated to contribute $71bn in export revenues for Vietnam in 2024. However, it also confronts serious sustainability issues, such as high energy use and carbon emissions. Vietnam has pledged to enhance its renewable energy usage by 65-70% by 2045, aiming to cut greenhouse gas emissions by approximately 70-80%, demonstrating its commitment to supply chain decarbonisation aligned with the IDR. The IDR ensures that resources are allocated effectively, enabling the realisation of low-carbon sourcing and additional advantages. This involves concentrating efforts on the critical 10% of sites within the textile and apparel supply chain, some of which are located in Vietnam, as these are responsible for more than 80% of the worldwide manufacturing emissions. The report recommends prioritising the uptake of renewable energy and the implementation of circular economy practices. It urges brands to cultivate enduring partnerships with their supply chain collaborators, which will promote fairness and catalyse reformative business methods. There is an emphasis on investing in the enhancement of employee skills, especially in areas related to sustainability and environmentally friendly technologies. The report also recommended staying informed about changes in Vietnam's regulatory landscape to guarantee adherence to regulations and to take advantage of emerging market prospects. Cascale CEO Colin Browne said: 'This isn't merely about compliance—it's about long-term competitiveness. Brands increasingly prefer suppliers who meet robust sustainability standards. Manufacturers investing in sustainability today will secure long-term brand partnerships tomorrow.' In March this year, Cascale revised its Higg Brand and Retail Module (Higg BRM), which is part of the Higg Index, to correspond with EU sustainability reporting rules and legislation. "Cascale, Aii report shows Vietnam gains ground in apparel's low-carbon shift" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
17-04-2025
- Business
- Yahoo
Cascale, Aii report shows Vietnam gains ground in apparel's low-carbon shift
The report titled "Vietnam Country Report: Macroeconomic, Socioeconomic, and Industry Analysis" provides an in-depth look at Vietnam's economic and industrial landscape. It is the first of a series that integrates insights from Cascale's sustainability assessment tool, Higg Facility Environment Module (FEM), exclusively featured on Worldly. An analysis of over 1,200 verified Higg FEM submissions from 2023 reveals a significant carbon footprint due to coal usage, with 12% of facilities directly using coal and 94% dependent on Vietnam's coal-heavy electricity grid. Despite this, renewable energy makes up less than 2% of energy consumption within the sector, presenting a substantial opportunity for transitioning to greener practices as outlined in the Industry Decarbonization Roadmap (IDR) by Cascale and Aii. As per the report, Vietnam's economic forecast shows a promising 6.5% growth rate by 2025, surpassing its regional counterparts. The manufacturing industry remains a cornerstone of this growth, accounting for nearly 23.88% of GDP in 2023. Foreign Direct Investment (FDI) also reflects strong investor confidence, with $31.4bn recorded in the initial 11 months of 2024. The apparel and footwear industry generates three million workers and was estimated to contribute $71bn in export revenues for Vietnam in 2024. However, it also confronts serious sustainability issues, such as high energy use and carbon emissions. Vietnam has pledged to enhance its renewable energy usage by 65-70% by 2045, aiming to cut greenhouse gas emissions by approximately 70-80%, demonstrating its commitment to supply chain decarbonisation aligned with the IDR. The IDR ensures that resources are allocated effectively, enabling the realisation of low-carbon sourcing and additional advantages. This involves concentrating efforts on the critical 10% of sites within the textile and apparel supply chain, some of which are located in Vietnam, as these are responsible for more than 80% of the worldwide manufacturing emissions. The report recommends prioritising the uptake of renewable energy and the implementation of circular economy practices. It urges brands to cultivate enduring partnerships with their supply chain collaborators, which will promote fairness and catalyse reformative business methods. There is an emphasis on investing in the enhancement of employee skills, especially in areas related to sustainability and environmentally friendly technologies. The report also recommended staying informed about changes in Vietnam's regulatory landscape to guarantee adherence to regulations and to take advantage of emerging market prospects. Cascale CEO Colin Browne said: 'This isn't merely about compliance—it's about long-term competitiveness. Brands increasingly prefer suppliers who meet robust sustainability standards. Manufacturers investing in sustainability today will secure long-term brand partnerships tomorrow.' In March this year, Cascale revised its Higg Brand and Retail Module (Higg BRM), which is part of the Higg Index, to correspond with EU sustainability reporting rules and legislation. "Cascale, Aii report shows Vietnam gains ground in apparel's low-carbon shift" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Associated Press
17-04-2025
- Business
- Associated Press
Cascale's Higg FEM Reveals Opportunities for Low-Carbon Transition in Vietnam
AMSTERDAM and HONG KONG and Oakland, Calif., April 17, 2025 /3BL/ - Issued today, the ' Vietnam Country Report: Macroeconomic, Socioeconomic, and Industry Analysis ' report, developed by Cascale with support from the Apparel Impact Institute (Aii), highlights the evolving macroeconomic landscape, sustainability challenges facing apparel and footwear manufacturing, and the rapid expansion of the consumer goods market in Vietnam. A strong economic outlook coupled with bold sustainability initiatives reveals a country poised to play a crucial role in global decarbonization efforts, even as tariffs threaten to put 5.5% of Vietnam's GDP at risk and raise prices for American consumers (New York Times, April 6). Tariffs and other key topics impacting Vietnam will be on the agenda at the Cascale Forum: Ho Chi Minh City on May 14-15, as Cascale members and non-members alike – including manufacturers, leading brands, service providers, and supply chain partners – come together for an immersive event to address urgent sustainability challenges and opportunities. The report includes critical analysis of data from Cascale's Higg Facility Environment Module (FEM) tool, exclusively available on Worldly. It is the first in a series of actionable reports filtering Higg FEM insights through a regional lens. In 2023, over 1,200 verified Higg FEM submissions showed coal exacerbates carbon emissions in the region: 12% of apparel and footwear facilities use coal for energy, while 94% rely on electricity purchased from Vietnam's coal-dependent grid. Although renewable energy accounts for less than 2% of the sector's energy use, the analysis underscores opportunities for transformation to a low-carbon economy, including through the Industry Decarbonization Roadmap (IDR) developed by Cascale and Aii. The report shows Vietnam can couple growth with sustainable manufacturing. Vietnam's economy is expected to grow by 6.5% in 2025, outpacing regional peers. The manufacturing sector continues to be a key driver, contributing 23.88% to GDP in 2023. Additionally, Foreign Direct Investment (FDI) remains robust, reaching US$31.4 billion in the first 11 months of 2024, signaling investor confidence in Vietnam's economic resilience. Employing around three million workers and generating an estimated US$71 billion in export revenues for 2024, the apparel and footwear sector is a vital component of Vietnam's economy but faces significant sustainability challenges, including high energy consumption and carbon emissions. With commitments in place for a 65-70% increase in renewable energy by 2045 – reducing greenhouse gas emissions by a projected 70-80% – Vietnam is committed to supply chain decarbonization, in line with the IDR. The report brings Cascale and Aii's IDR into focus as a potential solution. By uniting manufacturers, brands, retailers, and stakeholders around shared goals, the IDR emphasizes collective accountability and pre-competitive collaboration to accelerate systemic change across the supply chain. With a science-based target of reducing supply chain emissions by 45% by 2030, the IDR drives measurable progress through various interventions, solutions, and programs. The IDR ensures resources are targeted, so low-carbon sourcing and other benefits can be realized. This means prioritizing action in the 10% of facilities across the textile and apparel supply chain – including some in Vietnam – that account for over 80% of global manufacturing emissions. By aligning with these initiatives, facilities in Vietnam can play a pivotal role in the global transition to a low-carbon economy.'This isn't merely about compliance—it's about long-term competitiveness,' said Colin Browne, Cascale CEO. 'Brands increasingly prefer suppliers who meet robust sustainability standards. Manufacturers investing in sustainability today will secure long-term brand partnerships tomorrow.' ABOUT CASCALE Cascale is the global nonprofit alliance empowering collaboration to drive equitable and restorative business practices in the consumer goods industry. Formerly known as the Sustainable Apparel Coalition, Cascale owns and develops the Higg Index, which is exclusively available on Worldly, the most comprehensive sustainability data and insights platform. Cascale unites over 300 retailers, brands, manufacturers, governments, academics, and NGO/nonprofit affiliates around the globe through one singular vision: To catalyze impact at scale and give back more than we take to the planet and its people. LinkedIn | X | Instagram | Facebook | YouTube Visit 3BL Media to see more multimedia and stories from Cascale
Yahoo
17-04-2025
- Business
- Yahoo
Cascale's Higg FEM Reveals Opportunities for Low-Carbon Transition in Vietnam
AMSTERDAM, HONG KONG AND OAKLAND, CA / / April 17, 2025 / Cascale Industry Decarbonization Roadmap (IDR) could help deliver on sustainability goals as consumer goods manufacturing continues to drive GDP growth, projected at 6.5% in 2025. Issued today, the "Vietnam Country Report: Macroeconomic, Socioeconomic, and Industry Analysis" report, developed by Cascale with support from the Apparel Impact Institute (Aii), highlights the evolving macroeconomic landscape, sustainability challenges facing apparel and footwear manufacturing, and the rapid expansion of the consumer goods market in Vietnam. A strong economic outlook coupled with bold sustainability initiatives reveals a country poised to play a crucial role in global decarbonization efforts, even as tariffs threaten to put 5.5% of Vietnam's GDP at risk and raise prices for American consumers (New York Times, April 6). Tariffs and other key topics impacting Vietnam will be on the agenda at the Cascale Forum: Ho Chi Minh City on May 14-15, as Cascale members and non-members alike - including manufacturers, leading brands, service providers, and supply chain partners - come together for an immersive event to address urgent sustainability challenges and opportunities. The report includes critical analysis of data from Cascale's Higg Facility Environment Module (FEM) tool, exclusively available on Worldly. It is the first in a series of actionable reports filtering Higg FEM insights through a regional lens. In 2023, over 1,200 verified Higg FEM submissions showed coal exacerbates carbon emissions in the region: 12% of apparel and footwear facilities use coal for energy, while 94% rely on electricity purchased from Vietnam's coal-dependent grid. Although renewable energy accounts for less than 2% of the sector's energy use, the analysis underscores opportunities for transformation to a low-carbon economy, including through the Industry Decarbonization Roadmap (IDR) developed by Cascale and Aii. The report shows Vietnam can couple growth with sustainable manufacturing. Vietnam's economy is expected to grow by 6.5% in 2025, outpacing regional peers. The manufacturing sector continues to be a key driver, contributing 23.88% to GDP in 2023. Additionally, Foreign Direct Investment (FDI) remains robust, reaching US$31.4 billion in the first 11 months of 2024, signaling investor confidence in Vietnam's economic resilience. Employing around three million workers and generating an estimated US$71 billion in export revenues for 2024, the apparel and footwear sector is a vital component of Vietnam's economy but faces significant sustainability challenges, including high energy consumption and carbon emissions. With commitments in place for a 65-70% increase in renewable energy by 2045 - reducing greenhouse gas emissions by a projected 70-80% - Vietnam is committed to supply chain decarbonization, in line with the IDR. The report brings Cascale and Aii's IDR into focus as a potential solution. By uniting manufacturers, brands, retailers, and stakeholders around shared goals, the IDR emphasizes collective accountability and pre-competitive collaboration to accelerate systemic change across the supply chain. With a science-based target of reducing supply chain emissions by 45% by 2030, the IDR drives measurable progress through various interventions, solutions, and programs. The IDR ensures resources are targeted, so low-carbon sourcing and other benefits can be realized. This means prioritizing action in the 10% of facilities across the textile and apparel supply chain - including some in Vietnam - that account for over 80% of global manufacturing emissions. By aligning with these initiatives, facilities in Vietnam can play a pivotal role in the global transition to a low-carbon economy. "This isn't merely about compliance-it's about long-term competitiveness," said Colin Browne, Cascale CEO. "Brands increasingly prefer suppliers who meet robust sustainability standards. Manufacturers investing in sustainability today will secure long-term brand partnerships tomorrow." ABOUT CASCALE Cascale is the global nonprofit alliance empowering collaboration to drive equitable and restorative business practices in the consumer goods industry. Formerly known as the Sustainable Apparel Coalition, Cascale owns and develops the Higg Index, which is exclusively available on Worldly, the most comprehensive sustainability data and insights platform. Cascale unites over 300 retailers, brands, manufacturers, governments, academics, and NGO/nonprofit affiliates around the globe through one singular vision: To catalyze impact at scale and give back more than we take to the planet and its people. LinkedIn | X | Instagram | Facebook | YouTube View additional multimedia and more ESG storytelling from Cascale on Contact Info:Spokesperson: CascaleWebsite: info@ SOURCE: Cascale View the original press release on ACCESS Newswire Sign in to access your portfolio
