From “Green” Spending Habits…
As the beloved “first-born” of the initiative to launch one of the first green bank cards in Vietnam, the MB Mastercard HiGreen powerfully spreads the inspiration to live “green” and “healthy.”
Green consumption is gradually becoming a “lifestyle” in the Vietnamese community. A survey on “Spending Habits in December 2021” by PwC in 26 countries and territories, including Vietnam, showed that consumers are increasingly concerned about the environment. A study by Nielsen Vietnam also indicated that 86% of Vietnamese consumers are willing to pay more for products from brands that positively impact the environment and society.
However, maintaining and forming “green” spending habits still face a barrier when the cost of owning green products is often quite high. The HiGreen Card spending orientation aims to make it easier for Vietnamese people to maintain a lifestyle that is responsible to the environment and society.
HiGreen is one of the first green bank cards, and it is also considered a product that marks a new step forward for MB in becoming a green bank. The modern digital ecosystem allows MB to develop according to ESG standards, creating a positive impact on customers and being environmentally friendly.
Investing in a green future means investing in health, in personal happiness, and in the sustainable development of society. After a while of using the MB Mastercard HiGreen card, Ms. Nguyen Thi Thu (Ba Dinh district, Hanoi) expressed her pride in having the card: “I feel extremely comfortable and fulfilled when every purchase I make is useful, contributing a part of value to the community. I truly feel happy when every daily action of mine is so meaningful.
Inspired by environmental protection activities themselves, the MB Mastercard HiGreen design creates an impression with an interface close to nature and environmentally friendly materials. Notably, the packaging and card body are made from 100% recycled plastic (recycled-PVC), helping to minimize the impact on the environment. When owning this “powerful green card,” the user has successfully contributed 55,000 VND of the card issuance fee to environmental and social projects.
MB’s initiative is even more compelling as they turn every customer’s spending action into a green action, making it convenient and easy to maintain a responsible lifestyle. Indeed, through each transaction made with the HiGreen card, MB and its partners will contribute an equivalent of 1% of the spending turnover to environmental and social projects (ESG).
Not stopping there, MB Mastercard HiGreen and its partners have helped customers have easier access to environmentally friendly products through a series of “green” promotions to encourage green spending habits in cardholders: Cocoon green cosmetics, Xanh SM’s green journey, Coolmate’s green fashion,…
…to Greener Initiatives Being Created
In addition to launching the HiGreen card, MB is also actively implementing many activities to resonate with the creation of a green lifestyle in the community, typically the HiGreen – Binh Minh Xanh run. This campaign was among the top 5 most talked-about charity sports campaigns and was honored at the Marketing for Development Awards (M4DA Awards 2023).
The bank is currently working with the social enterprise Think Playgrounds to use matching funds from the Running Challenge and the HiGreen card to transform spontaneous garbage dumps in the city into ecological playgrounds for the local community, turning running power into a giant waste disposal machine.
With the joint efforts of MB and the community, the landfill at the foot of Long Bien Bridge has been successfully transformed into Phuc Tan Park (Hoan Kiem District, Hanoi) and put into use. In the future, MB will continue to implement this solution in other cities across the country, such as Ho Chi Minh City, Quang Nam, Hue, etc. “MB believes that this is the most feasible solution of all the options discussed, capable of inspiring, adhering to the ESG strategy, and contributing to environmental improvement and providing a space for urban residents to play and exercise, who are heavily impacted by climate change, waste, and fine dust,” Mr. Vu Thanh Trung – Member of the MB Executive Board shared.
MB’s solution with the HiGreen campaign highlights 3 characteristics: creativity, resonance, and sustainability. It is just one solution, but it has received a powerful ripple effect while simultaneously solving real and practical environmental and social issues. Participating in the HiGreen run, Ms. Le Thanh Hang (Thanh Xuan district, Hanoi) shared: “Not to achieve KPIs or compete for achievements, I run regularly every day for my health and to support the community. I don’t have much materially to do charity work like billionaires or millionaires. I support by running. Not running alone, when her relatives and friends saw her running and sharing pictures on her personal page, many asked her about it and registered to follow.
The “Green” Effect Continues to Spread Strongly
MB identifies green credit growth as a task in its ESG strategy. In fact, the bank has been continuously making commitments to implement the ESG strategy methodically, according to international measurement standards, creating a positive impact on customers and the environment.
The bank effectively allocates credit capital, contributing to socio-economic development, promoting green credit development, and increasing the proportion of bank credit invested in renewable energy and clean energy. With practical and systematic plans in implementing the ESG strategy, MB is pioneering in leading the green finance trend in Vietnam.
In addition to activities that directly impact the environment, MB is completing a sustainable finance and climate risk management framework to ensure that investment and lending activities are socially and environmentally responsible. Also, developing a sustainable development strategy and applying ESG standards reflects MB’s long-term vision and determination to contribute to the country’s sustainable development.
