BIDV General Director Le Ngoc Lam receiving the award on behalf of the bank
Recognizing the importance of sustainable growth, the green economy, and the circular economy for Vietnam’s long-term development, BIDV has made a strong commitment to sustainability. In its 2021-2025 business strategy and vision for 2030, BIDV has embraced the goal of “striving for sustainable development” across all its banking operations, with the message “pioneering the creation of lasting value. ” BIDV is pursuing a brand positioning strategy as a Green Bank, aiming to be a market leader in ESG (Environmental, Social, and Governance) practices and sustainable finance. The bank is also committed to aligning with international standards for green finance and has set a goal of becoming a Net-Zero Emissions Bank by 2045.
To accelerate its sustainable development journey and actively contribute to the country’s green transition strategy, BIDV established an ESG Steering Committee and a Project Management Unit for the development and implementation of its Sustainability and ESG Practice Strategy. This significant step forward shapes a comprehensive ESG implementation model, aiming to position BIDV as a pioneer in promoting sustainable development in Vietnam. BIDV is also committed to enhancing its legal framework in line with the government and State Bank of Vietnam’s guidelines and is ready to accompany Vietnamese enterprises in building a green economy. In addition to issuing the Sustainable Lending Framework and Green Bond Framework, which paved the way for the deployment of green credit packages and preferential capital financing programs for green projects, BIDV has also introduced its Environmental and Social Risk Management System (ESMS) in trade finance. This marks a pioneering step in supporting import-export businesses in boosting global trade, strengthening value chains, and achieving sustainable growth.
Soc Trang 7 Wind Power Project financed by BIDV with concessional loans from the French Development Agency (AFD)
BIDV is recognized as a leading commercial bank in Vietnam for its success in mobilizing green capital and financing green projects. In addition to providing green credit from commercial sources, BIDV is a strategic partner of numerous international financial institutions and a leader in managing foreign trust funds for sustainable development purposes. Currently, BIDV manages over 250 foreign trust funds from the governments of Germany, Switzerland, France, Japan, and South Korea, as well as prominent international financial institutions such as WB, AFD, ADB, KFW, NIB, EIB, JICA, EDCF, WHO, and UNICEF. The total value of these commitments stands at 19.7 billion USD (equivalent to 500 trillion VND). In 2023-2024, through two successful issuances, BIDV raised 5,500 billion VND (equivalent to 220 million USD) in green and sustainable bonds, reinforcing its position as the leading issuer of ESG bonds in the domestic market.
Leveraging this capital, BIDV has launched preferential green credit programs for priority sectors, including renewable energy, clean energy, low-carbon production, and climate-resilient consumption. For businesses, BIDV has introduced several green credit packages, such as a 4.2 trillion VND package for textile and garment enterprises that meet international sustainability standards, a 10 trillion VND package for environmentally friendly projects that promote resource efficiency, and a 5 trillion VND package for financing projects in the production and supply of clean water. For individual customers, BIDV offers a 10 trillion VND credit package for loans related to green energy products, renewable energy, or green production and business. Additionally, BIDV has strengthened collaborations with leading domestic and international electric vehicle manufacturers to provide attractive financing options for individuals purchasing electric cars.
As of September 30, 2024, BIDV has provided green financing to 1,680 customers with 2,068 projects/plans, resulting in a green credit balance of 75.1 trillion VND. This accounts for approximately 3.9% of BIDV’s total credit balance and 11.3% of the total green credit balance in the economy. With its current green credit foundation, BIDV aims to continue increasing its green credit balance and market share annually, striving to maintain its position as a leading provider of green finance in Vietnam.
Beyond its business operations, BIDV has demonstrated its pioneering role in fulfilling its social responsibilities and contributing to community development. The bank effectively carries out social welfare activities, focusing on key areas aligned with the government’s sustainable development orientation. Furthermore, BIDV actively promotes green initiatives related to gender equality and is committed to long-term support and capacity-building for the community to enhance climate change resilience.
The Announcement of Sustainable Enterprises in Vietnam in 2024 was organized by the Vietnam Chamber of Commerce and Industry (VCCI) in coordination with the Central Economic Commission, the Ministry of Labor, Invalids, and Social Affairs, the Ministry of Natural Resources and Environment, and the Vietnam General Confederation of Labor.
To be awarded the “Sustainable Enterprise” title, enterprises must meet the rigorous screening criteria of the Corporate Sustainability Index (CSI) across various aspects: corporate governance, environment, labor, and society. The CSI 2024 significantly increased the “quantification” of the indices, adding more quantitative indices, especially environmental indices. Additionally, the environmental indices were clearly divided into two groups: “compliance” – basic indices and “initiatives” – advanced indices. Of the 153 CSI 2024 indices, 62% are compliance indices, and 38% are advanced indices.
Masan High-Tech Materials: Honored as a “Sustainable Enterprise” for Seven Consecutive Years
On November 29, Masan High-Tech Materials, a leading provider of advanced materials, was once again recognized for its sustainability efforts, securing a place in the prestigious Top 100 Sustainable Businesses in Vietnam (CSI 100). This acknowledgment underscores the company’s unwavering commitment to environmental stewardship, social responsibility, and strong governance practices.
The Power of Partnership: Ampotech and Avenue Sign MOU to Drive Energy and Sustainability Forward
In October 2024, Ho Chi Minh City witnessed a pivotal moment as Ampotech Co. Ltd. (Ampotech) and Avenue Joint Stock Company, a leading provider of IT solutions, formalized their strategic alliance by signing a Memorandum of Understanding (MoU). This momentous occasion marked the beginning of a partnership focused on driving energy efficiency and sustainable innovation in the commercial and industrial sectors.
The Future of Work: Equipping FPT’s Security Guards with AI Knowledge
“These are the insightful words of Mr. Hoang Nam Tien, the esteemed Vice Chairman of the School Board at FPT University, shared at a recent event.”
The Digital Pioneer: Forging a Creative and Unified Digital Culture
In the digital age, the ever-evolving landscape of technology has significantly impacted all industries, particularly the banking sector. Military Commercial Joint Stock Bank (MB) has fostered a robust digital culture, enabling it to not only keep pace with staffing demands but also create an innovative and cohesive work environment.
The Green Production Incentive
Innovation is an objective necessity and a strategic choice for Vietnam to develop rapidly and sustainably, transforming its economy from ‘brown’ to ‘green’ to achieve its Net Zero goal by 2050.
