Title: Corporate sustainability reporting in European, Swiss law and lessons for Vietnam
Título: Informes de sostenibilidad corporativa en el derecho europeo y suizo y lecciones para Vietnam
Autor: Diem Tang Thi Bich, LLM (Law) Lecturer, Faculty of Commercial Law, Ho Chi Minh City University of Law, Ho Chi Minh City, Vietnam, ttbdiem@hcmulaw.edu.vn, ORCID: 0009-0004-5090-9690
Fecha de recepción: 04/03/2026
Fecha de aceptación: 06/04/2026
Fecha de modificación: 08/04/2026
DOI: https://doi.org/10.56398/ajacieda.00482
Documento completo: “Corporate sustainability reporting in European, Swiss law and lessons for Vietnam”
Abstract:
Corporate sustainability reporting is increasingly treated as a legal instrument for environmental and climate accountability, particularly where adverse environmental and human-rights impacts arise along supply chains. In the European Union, the sustainability reporting framework has been designed to standardise corporate disclosures and to generate decision-useful environmental data thereby supporting the reallocation of capital, the management of systemic sustainability risks, and regulatory responses to greenwashing within the internal market. Switzerland, while influenced by European legislative developments, has adopted a more cautious approach regarding the scope of obliged entities and the degree of standardisation, reflecting a distinct calibration between regulatory ambition and compliance capacity.
This article analyses how sustainability reporting obligations are regulated in the EU and Switzerland and draws implications for Viet Nam. Using doctrinal legal analysis and comparative methodology, it systematises key legal choices concerning the scope of application, environmental and sustainability-related report content, double materiality, reporting standards, approval processes, external audit, and sanctions. The findings show that Viet Nam’s framework remains fragmented: sustainability disclosures are largely embedded in annual reports under securities law, while sector-specific reporting duties (notably in the environmental and labour fields) operate in parallel for state-administrative purposes. The absence of unified rules on minimum content, standards, double materiality, assurance, and enforcement undermines comparability and the reliability of environmental sustainability data. The article proposes a consolidated framework treating sustainability reporting as an independent periodic obligation, implemented through a roadmap calibrated to risk and compliance capacity, supported by mandatory minimum standards, assurance requirements, and sanctions.
The author used the AI tool Grok for limited editorial assistance, including checking and formatting footnotes and references and improving language expression.
Resumen:
La información sobre sostenibilidad corporativa se considera cada vez más un instrumento jurídico de rendición de cuentas en materia ambiental y climática, en particular cuando los impactos adversos sobre el medio ambiente y los derechos humanos surgen a lo largo de las cadenas de suministro. En la Unión Europea, el marco de información en materia de sostenibilidad ha sido diseñado para estandarizar las divulgaciones empresariales y generar datos ambientales útiles para la toma de decisiones, fomentando así la reasignación de capital, la gestión de riesgos sistémicos de sostenibilidad y las respuestas regulatorias frente al “greenwashing” en el mercado interior. Suiza, aunque influida por los desarrollos legislativos europeos, ha adoptado un enfoque más prudente respecto del alcance de las entidades obligadas y del grado de estandarización, lo que refleja una calibración particular entre la ambición regulatoria y la capacidad de cumplimiento.
Este artículo analiza cómo se regulan las obligaciones de información sobre sostenibilidad en la Unión Europea y en Suiza y, sobre esa base, extrae implicaciones para Vietnam. Mediante el análisis jurídico doctrinal y la metodología comparada, sistematiza las principales opciones normativas relativas al ámbito de aplicación, el contenido del informe en materia ambiental y de sostenibilidad, la doble materialidad, las normas de información, los procedimientos de aprobación, la auditoría/aseguramiento externo y el régimen sancionador. El análisis muestra que el marco de Vietnam sigue siendo fragmentado: las divulgaciones de sostenibilidad se integran en gran medida en los informes anuales exigidos por la normativa del mercado de valores, mientras que los deberes sectoriales de reporte, en particular en los ámbitos ambiental y laboral, operan en paralelo con fines de gestión administrativa estatal. La ausencia de reglas unificadas sobre el contenido mínimo, los estándares, la doble materialidad, el aseguramiento y la aplicación debilita la comparabilidad y la fiabilidad de los datos de sostenibilidad ambiental. El artículo propone un marco consolidado que trate la información en materia de sostenibilidad como una obligación periódica independiente, aplicada mediante una hoja de ruta calibrada al riesgo y a la capacidad de cumplimiento, respaldada por estándares mínimos obligatorios, requisitos de aseguramiento y sanciones.
La autora utilizó la herramienta de inteligencia artificial Grok únicamente como apoyo editorial limitado, en particular para revisar y dar formato a las notas a pie de página y a las referencias, así como para mejorar la redacción.
Keywords: Environmental law. Climate accountability. Corporate sustainability reporting. CSRD. ESRS. Double materiality. Greenwashing. European Union. Switzerland. Viet Nam.
Palabras clave: Derecho ambiental. Rendición de cuentas climática. Información sobre sostenibilidad corporativa. CSRD. ESRS. Doble materialidad. Ecopostureo. Unión Europea. Suiza. Vietnam.
Index:
1. Introduction
2. Research methodology
3. The theoretical basis of sustainability disclosure obligations
4. An overview of the legal framework on corporate sustainability reporting
4.1. EU CSRD
4.2. Swiss Law
5. Scope of application
5.1. EU CSRD
5.2. Swiss Law
6. The content of corporate sustainability reporting
6.1. EU CSRD
6.2. Swiss Law
7. Approval and audit of corporate sustainability reports
7.1. EU CSRD
7.2. Swiss Law
8. Sanctions
8.1. EU CSRD
8.2. Swiss Law
9. A Comparison of EU and Swiss law on corporate sustainability reporting obligations
10. Corporate sustainability reporting in Viet Nam
10.1. An overview of national strategies related to sustainable development
10.2. Regulations on corporate sustainability reporting
10.3. The current state of the legal framework on sustainability reporting
10.4. “Soft Law” on corporate sustainability reporting
10.5. Recommendations for regulating corporate sustainability reporting in Viet Nam
11. Conclusion
12. Funding source
13. Bibliography
Índice:
1. Introducción
2. Metodología de investigación
3. Fundamentos teóricos de las obligaciones de divulgación en materia de sostenibilidad
4. Panorama del marco jurídico sobre la presentación de informes de sostenibilidad empresarial
4.1. CSRD de la UE
4.2. Derecho suizo
5. Ámbito de aplicación
5.1. CSRD de la UE
5.2. Derecho suizo
6. Contenido de la presentación de informes de sostenibilidad empresarial
6.1. CSRD de la UE
6.2. Derecho suizo
7. Aprobación y auditoría de los informes de sostenibilidad empresarial
7.1. CSRD de la UE
7.2. Derecho suizo
8. Régimen sancionador
8.1. CSRD de la UE
8.2. Derecho suizo
9. Comparación entre el Derecho de la UE y el Derecho suizo sobre las obligaciones de presentación de informes de sostenibilidad empresarial
10. Presentación de informes de sostenibilidad empresarial en Vietnam
10.1. Panorama general de las estrategias nacionales relacionadas con el desarrollo sostenible
10.2. Normativa sobre la presentación de informes de sostenibilidad empresarial
10.3. Estado actual del marco jurídico aplicable a la presentación de informes de sostenibilidad empresarial
10.4. “Soft law” sobre la presentación de informes de sostenibilidad empresarial
10.5. Recomendaciones para regular la presentación de informes de sostenibilidad empresarial en Vietnam
11. Conclusión
12. Fuente de financiación
13. Bibliografía
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