VI
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has announced the issuance of its Green Bond Framework, in line with Vietnamese regulations on green bonds and voluntarily adhering to the Green Bond Principles set by the International Capital Market Association (ICMA Green Bond Principles).
At the 26th United Nations Climate Change Conference (COP26), the Vietnamese government made a landmark commitment to addressing climate change, pledging that Vietnam will achieve net zero emissions by 2050. In line with this commitment, and under the guidance of the Party, the Government, and the State Bank of Vietnam, Vietcombank is prioritizing sustainable development. The bank aims to be a leader in Environmental, Social, and Governance (ESG). The launch of its Green Bond Framework is a concrete step toward fulfilling Vietcombank’s commitment to sustainable development, with a focus on green credit growth and actively supporting Vietnam's goal of achieving net zero emissions.
Vietcombank’s Green Bond Framework is built around four main pillars:
- Use of proceeds from the bond issuance;
- Project evaluation and selection process;
- Management of the proceeds;
- Reporting on progress.
The capital raised from the Green Bond issuance will be used to fund projects with positive environmental impacts, including: renewable and clean energy; sustainable transportation; water management; green building projects; sustainable agriculture, forestry, fisheries, and biodiversity conservation; waste management and resource efficiency and energy efficiency projects.
Vietcombank’s Green Bond Framework was developed with technical support from the Global Green Growth Institute (GGGI) and has received a strong rating from S&P Global (Second Party Opinion), which issued a Medium Green rating - the second highest level in the six-level scale according to S&P Global's Shade of Green rating framework. S&P Global evaluates the framework’s effectiveness in addressing urgent environmental issues in Vietnam, such as carbon emissions and pollution.
Vietcombank believes that, through its scale, influence, and comprehensive approach to sustainability, the issuance of its Green Bond Framework will help address critical environmental and social challenges, contribute to sustainable development, and support Vietnam’s path to a more prosperous and environmentally sustainable future.
For more information, customers and partners can refer to the Vietcombank Green Bond Framework and the S&P Global assessment via the following links:
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