How crucial is ESG to Vietnam, and specifically to Techcombank?
Techcombank, founded 31 years ago with an initial charter capital of VND20 billion ($800,000), has grown into one of Vietnam’s leading private banks. Our mission has always been to enable the country’s economic growth and achieve success alongside the Vietnamese people. This is reflected in our brand promise to always ‘Be Greater.’ We strive to embody this spirit in all that we do.
The Vietnamese are known for their strong aspirational spirit, constantly pushing themselves to achieve greater things and find success. This drive has fueled the nation’s economic growth, with Vietnam’s GDP soaring from around $13 billion to $430 billion in the last 30 years. Techcombank is proud to have played a part in this journey, offering financial products and services that empower individuals and businesses alike.
As Vietnam’s economy continues to thrive and its citizens prosper, sustainability has taken center stage, and ESG (Environmental, Social, and Governance) has become a key consideration. Techcombank recognizes the importance of this and is committed to leading the way in ESG practices. We understand that our long-term success is intrinsically linked to the sustainability of the nation. To this end, we have embarked on a journey to integrate ESG factors into the very heart of our business strategy and operations.
Why does Techcombank support the HCMC marathon as a strategic partner?
The recent 7th edition of the Techcombank Ho Chi Minh City (HCMC) International Marathon, held from December 6–8, was a tremendous success! Our partnership with the marathon over the past seven years stems from our belief in its ability to showcase the vibrancy of Vietnam and HCMC to the world. Through our support, we aim to boost the city’s economy, encourage community engagement, and promote healthy lifestyles.
With 18,000 runners from 64 Vietnamese provinces and beyond, the marathon embodied the ‘Be Greater’ promise. It brought the community together, uniting people in their pursuit of new challenges and personal achievements. The high participation rate is a testament to the aspirational spirit of the Vietnamese people, always striving for greatness.
How does Techcombank incorporate mass participation sports into its ESG strategy?
Our strategic partnership with the Ho Chi Minh City International Marathon is just one aspect of our broader “Run for a Greater Vietnam” initiative, which also includes support for the Hanoi Marathon. We recognize the power of these events to engage the community, boost the economy, and associate our brand with the aspirational spirit of Vietnam. By partnering with these marathons, we actively contribute to the “S” in ESG—making a positive social impact.
In 2024, the Hanoi and HCMC marathons, supported by Techcombank, attracted a combined total of 30,000 runners. This is a significant increase from the Techcombank HCMC Marathon’s inaugural event seven years ago, which had only 2,000 participants. Through collaboration with local governments, we have transformed these marathons into inspiring experiences that motivate thousands to adopt active lifestyles and push beyond their limits. This growth showcases the ability of mass participation sports to foster community engagement and social interaction.
The 3rd edition of the Techcombank Hanoi Marathon, held in September 2024, was especially meaningful as it took place shortly after Typhoon Yagi. We made the difficult but necessary decision to postpone the marathon by a week and donated approximately VND3 billion ($120,000) to relief efforts. Despite the challenging conditions, over 10,000 runners participated, a true testament to the resilience and pride of the Vietnamese people as Hanoi celebrated its 70th Liberation Day.
What actions has Techcombank taken to integrate sustainability into the HCMC Marathon?
When it comes to our support for mass participation sporting events like the HCMC Marathon, we are guided by the seven sustainability pillars defined by Global Sustainable Sport (GSS): Partnership, Participation, People, Planet, Power, Profile, and Prosperity. We strive to maximize the positive impacts across these pillars through our involvement.
Our support for the Hanoi and HCMC Marathons fosters partnerships with local governments and community organizations, encourages mass participation, promotes physical fitness and healthy lifestyles, boosts the local economy through tourism, and enhances Techcombank’s brand association with the aspirational spirit of Vietnam. We are mindful of the environmental impact of such events and are taking steps to mitigate it, including recycling waste and providing transportation for participants to and from the racecourse.
How does Techcombank intend to enhance its involvement in the HCMC Marathon and similar events to maximize its ESG impact?
Since I joined Techcombank as CMO in 2020, the marathon has evolved into a truly spectacular and inspiring event. The Techcombank HCMC International Marathon has grown from 4,000 runners to 18,000 this year, with side events spanning three full days. We are incredibly proud of what this event has become and aim to take it even further.
Our vision is to create an official city marathon that rivals those in Singapore, Tokyo, New York, and Sydney. By establishing an official HCMC marathon with Techcombank’s support, we believe the city will gain global recognition and attract visitors worldwide. We are working closely with the local government and building community support to make this dream a reality, uniting the community and showcasing the city’s vibrancy.
What other initiatives is Techcombank undertaking to advance its ESG priorities and support Vietnam’s sustainability goals beyond mass participation sports?
ESG and sustainability are now integral to Techcombank’s transformation strategy, recognized as key pillars by our management team. As a leading Vietnamese bank, we are committed to being a driving force for positive change. We actively seek opportunities to protect Vietnam’s environment, contribute to community development, support our people, and promote strong corporate governance within our industry.
As a leading financial institution, we have a unique opportunity to make a positive environmental impact. Firstly, we are a significant provider of debt financing for green projects, with funding for such initiatives surpassing $5 billion in Vietnam. Additionally, we introduced a Green Bond Framework to ensure that proceeds from Green Bond issuances benefit the environment. Techcombank is also committed to improving energy efficiency across its operations and helping customers adopt sustainable practices.
Our digital transformation strategy has not only enhanced productivity but also reduced our environmental footprint. The new energy-efficient head office buildings in Hanoi and HCMC, LEED Gold-certified by the USGBC, are expected to yield energy savings of approximately 26% compared to older offices. Furthermore, we launched the Visa EcoCard in 2024, enabling customers to track carbon emissions linked to their spending and easily offset their carbon footprint.
Techcombank’s social contributions extend beyond the ‘Run for a Greater Vietnam’ initiative. We have donated approximately VND148 billion ($5.92 million) to community and social development organizations. Internally, we prioritize gender diversity and talent development, with women holding 19% of board positions and 61% of managerial roles. We also invest in our employees’ growth, providing an average of 77 hours of training per employee annually.
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