VietinBank issues the Sustainable Finance Framework
VietinBank issues the Sustainable Finance Framework
Combating and adapting to climate change and protecting the environment are global action trends that aim towards sustainable development goals. At the UN Climate Change Conference 2021 (COP26), Vietnam made a strong commitment to achieving net zero emissions by 2050.
In response to the Government's policies on green growth and sustainable development, VietinBank, as a leading bank, providing the economy with a 'bloodstream' of capital, has announced its Sustainable Finance Framework, contributing to fulfilling the commitment to accompany the Government and customers in reaching the goal of net-zero emissions.
Particularly, VietinBank's Sustainable Finance Framework has been assessed by Morningstar Sustainalytics, a leading ESG research, rating and data company, as "reliable, impactful and in accordance with the Sustainability Bond Guidelines 2021, Green Bond Principles 2021, Social Bond Principles 2023, Green Loan Principles 2023 and Social Loan Principles 2023" issued by the International Capital Market Association (ICMA), Loan Market Association (LMA), and Asia Pacific Loan Market Association (APLMA).
Accordingly, the Sustainable Finance Framework sets out VietinBank's orientations in funding and management of funds for sustainable development purposes according to 4 main pillars, from the purpose of capital use, the process of assessing and selecting funding items to capital use management and reporting. VietinBank's Sustainable Finance Framework is built on a comprehensive approach, applicable to both lending financial instruments and bonds, serving both Green and Social projects/solutions. In which, the Green capital use purpose groups include: Renewable energy, efficient energy use, circular economy, green transportation, green buildings, sustainable agriculture - forestry - fishery, and biodiversity conservation; Social capital use purpose groups include: Access to basic infrastructure, social housing, and access to essential services (Healthcare and education).
Prior to the issuance of the Sustainable Finance Framework, VietinBank considered sustainable development a core activity of the Bank. VietinBank has proactively developed policies and products to create a flexible mechanism in funding sustainable development in areas such as: Renewable energy, clean energy, sustainable water management, green agriculture, sustainable forestry, waste treatment, and pollution prevention.
During the period of 2018 - 2022, VietinBank's sustainable finance recorded a 100% growth rate. In 2024, VietinBank launched a green credit package worth VND 5,000 billion with many interest rate incentives and fees for solutions/projects that meet sustainable criteria.
The Sustainable Finance Framework will be the basis for VietinBank to standardize credit granting activities, issue bonds serving Green and Social purposes, in order to realize the Bank's commitment to sustainable development goals.
VietinBank
Combating and adapting to climate change and protecting the environment are global action trends that aim towards sustainable development goals. At the UN Climate Change Conference 2021 (COP26), Vietnam made a strong commitment to achieving net zero emissions by 2050.
In response to the Government's policies on green growth and sustainable development, VietinBank, as a leading bank, providing the economy with a 'bloodstream' of capital, has announced its Sustainable Finance Framework, contributing to fulfilling the commitment to accompany the Government and customers in reaching the goal of net-zero emissions.
Particularly, VietinBank's Sustainable Finance Framework has been assessed by Morningstar Sustainalytics, a leading ESG research, rating and data company, as "reliable, impactful and in accordance with the Sustainability Bond Guidelines 2021, Green Bond Principles 2021, Social Bond Principles 2023, Green Loan Principles 2023 and Social Loan Principles 2023" issued by the International Capital Market Association (ICMA), Loan Market Association (LMA), and Asia Pacific Loan Market Association (APLMA).
Accordingly, the Sustainable Finance Framework sets out VietinBank's orientations in funding and management of funds for sustainable development purposes according to 4 main pillars, from the purpose of capital use, the process of assessing and selecting funding items to capital use management and reporting. VietinBank's Sustainable Finance Framework is built on a comprehensive approach, applicable to both lending financial instruments and bonds, serving both Green and Social projects/solutions. In which, the Green capital use purpose groups include: Renewable energy, efficient energy use, circular economy, green transportation, green buildings, sustainable agriculture - forestry - fishery, and biodiversity conservation; Social capital use purpose groups include: Access to basic infrastructure, social housing, and access to essential services (Healthcare and education).
Prior to the issuance of the Sustainable Finance Framework, VietinBank considered sustainable development a core activity of the Bank. VietinBank has proactively developed policies and products to create a flexible mechanism in funding sustainable development in areas such as: Renewable energy, clean energy, sustainable water management, green agriculture, sustainable forestry, waste treatment, and pollution prevention.
During the period of 2018 - 2022, VietinBank's sustainable finance recorded a 100% growth rate. In 2024, VietinBank launched a green credit package worth VND 5,000 billion with many interest rate incentives and fees for solutions/projects that meet sustainable criteria.
The Sustainable Finance Framework will be the basis for VietinBank to standardize credit granting activities, issue bonds serving Green and Social purposes, in order to realize the Bank's commitment to sustainable development goals.
VietinBank