Bank

Unlocking Sustainability: OCB Releases 2023 Standalone Sustainability Report

Orient Commercial Joint Stock Bank (HOSE: OCB) has unveiled its 2023 Sustainability Report, themed "The Journey of Green Banking Transformation." With this report, OCB establishes itself as a pioneer among Vietnamese banks in independently developing and publishing a comprehensive sustainability report.

Administrator

26 September, 2024

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With the theme “The Journey to Becoming a Green Bank”, the report thoroughly depicted OCB’s transformation towards greening its operations to strive for the goal of becoming a Green Bank, contributing to the sustainable development of Vietnam. In addition, the report also provides comprehensive information, including goals, orientations, achievements, activities, and prominent initiatives in 2023, as well as the bank’s future plans regarding crucial sustainable development issues. Through this report, OCB aims to convey its commitments, efforts, and concrete action plans to help stakeholders (including customers, shareholders, employees, regulatory authorities, and the community) gain a comprehensive understanding of the journey towards sustainable development that has been and is taking place in each business operation at OCB.

The content of the report is based on strict compliance with the information disclosure regulations according to Circular No. 96/2020/TT-BTC, while also referencing the Global Reporting Initiative (GRI) Standards, issued by the Global Sustainability Standards Board (GSSB) in 2016 and adjusted in 2021.

“We believe that OCB’s efforts to manage the bank’s environmental, social, and governance impacts also contribute to the United Nations Sustainable Development Goals (SDGs). Additionally, by proactively publishing an independent sustainable development report for the 2023 fiscal year, we demonstrate our commitment to transparency, objectivity, and integrity in all our activities. These are also the core values that we have consistently strived to uphold throughout our journey of growth and development,” shared Mr. Pham Hong Hai, CEO of OCB.

Sustainable Development Imprints at OCB in 2023

OCB laid the foundation for its goal of becoming a Green Bank early on and formulated a comprehensive strategy with the accompaniment of reputable international organizations such as IFC. The bank will undertake specific actions to contribute to enhancing the effectiveness and accelerating the green transition. It will provide financial products and services to relevant parties, digitize banking activities to improve service quality and reduce processing time while saving paper, and implement technical solutions (automatic equipment, sensors), communication programs, and ESG initiatives to efficiently utilize energy resources (electricity and water). Additionally, OCB will upgrade and supplement training programs to enhance the “Green” capacity of its officers and employees to meet the needs of the transformation, along with various other activities.

We are committed to steadfastly pursuing the sustainable development journey, integrating sustainable development principles into our business operations, governance, and management: Governing by best practices and standards; conducting banking activities with transparency, emphasizing responsibility and ethics in our work; achieving stable and sustainable growth through efficient business operations; contributing economic value to the nation, organizations, shareholders, and customers; positively impacting the environment through actions to conserve natural resources, mitigate climate change, and green the economy; and contributing to building a modern and civilized society by offering products and services that provide practical value and exceptional experiences to customers, as well as actively contributing to the community and society,” shared OCB’s CEO about the bank’s sustainable development strategy.