The accounting and consulting firm said its latest study found up to 69 percent of privately held businesses (PHBs) in Vietnam are prepared to introduce “green” practices. The country ranks sixth in this regard, comparing very favourably with the world average of 51 percent.

East Asian economies are generally more willing to become environmentally friendly in touch times, at 61 percent, compared to the lowest average of 43 percent in Nordic countries, the study found.

The IBR is an annual survey of the views of senior executive in 7,200PHBs from 36 economies worldwide.

When asked to rate the environmental friendliness of their business community and their appetite for introducing green practices, the executives presented a global picture of those prepared to take the initiative on green practices and those unwilling to put their bottom line at risk.

Greece, Turkey, Argentina and China are economies with low perceptions of environmental friendliness within business community but where, despite this perception, PHBs are most willing to take the initiative and introduce green practices themselves.

In contrast, in other countries with similar perceptions about the environmental friendliness of their business communities like Russia, Armenia, Belgium, France and the UK, PHBs said they are much less likely to introduce green practices that might affect their bottom line.

“It is fascinating to see where in the world the greatest appetite for green practices lies. Despite the downturn, profit is clearly not the only factor driving PHBs and we should take great encouragement from their desire to build sustainable businesses,” said Atkinson, managing partner of Grant Thornton Vietnam.

He said those who persisted with their green agenda during the downturn would be best placed to seized competitive advantage when the upturn come.

The report found interesting global variations. Businesses worldwide rated the environment friendliness of their local business community at 30 percent, with those in Nordic countries topping the table at61 percent, and their Greek and Turkish counterparts tipping the scales at the other end at minus 41 percent and minus 42 percent respectively.