<b>Recognition</b><b> Over Performance: A Critical Review of ESG Practices</b><b> in Vietnam</b>

No Vietnamese companies studied within our samples have registered a net-zero target with the Science Based Target initiative (SBTi). In general, this paper explores contradictions in Environmental, Social, and Governance (ESG) practices, and using Vietnam as a case. It highlights a growing gap between corporate ESG acknowledgment and actual performance through a narrative literature review and analysis of data from global organizations, and Vietnam’s Top 100 Sustainable Companies (CSI2024) and TOP50 Corporate Sustainability Award companies (CSA2024). Results show that many Vietnamese firms prioritize public recognition over authentic sustainability efforts, posing challenges to effective ESG integration. Recommendations include global ESG standardization, mandatory third-party reporting, and inclusive governance to align with Sustainable Development Goals (SDGs) promoting robust business practices. Significant regulatory harmonization is needed to resolve ESG contradictions and achieve genuine sustainability.