Social Science and Human Research Bulletin

In the context of integration and the growing demand for sustainable development, transparent environmental, social and governance information is increasingly becoming an important condition for listed companies to access capital, strengthen investor confidence, and participate in global supply chains. This study aims to identify the structure of Vietnamese law relating to sustainability disclosure by listed companies, assess the current state of compliance and disclosure quality, and propose recommendations for improvement. The research method combines normative legal analysis, comparative examination against international practices, and descriptive synthesis based on publicly available reports from a group of representative listed companies, using a set of criteria grounded in sustainability reporting guidelines. The results show that the current legal framework has established disclosure obligations that are periodic, ad hoc, and upon request; however, sustainability-related content remains fragmented, lacks quantitative standards, lacks mechanisms to ensure independence, and sanctions are not sufficiently deterrent against the provision of misleading information. The discussion highlights the need to shift from an incentive-based approach to a mandatory one under a phased roadmap, unify a national reporting standard aligned with international standards, and strengthen oversight and assurance. The conclusion recommends a package of measures to refine rules on content, procedures, responsibilities, quality assurance, and disclosure infrastructure in order to reduce “greenwashing” risks and enhance market efficiency.

disclosure; environmental, social and governance; listed companies; securities market; anti-greenwashing; sustainability reporting standards.

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