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International support for the implementation of green credit in Việt Nam

11/03/2020

     Green credit is considered as a potential area, which is being promoted by banks, especially in the context of climate change and environmental pollution being a global problem.

     Priority, but not yet developed

     Currently, the trend of investment, business and consumption of green products by individuals and businesses is encouraged by the Government. For the banking sector, green credit is also being deployed by banks, in which priority areas are high-tech agriculture, solar energy, environmentally friendly projects ... This is also an area that plays an important role in promoting sustainable development and realizing Vietnam's green growth strategy.

     Since 2015, one of the policies of the banking sector in credit activities is to pay attention to environmental protection, improve the efficiency of using resources and energy; improve environmental quality and protect human health, ensure sustainable development. In 2018, the State Bank approved the scheme for developing green banks in Việt Nam. However, the number of banks that have established a credit appraisal process for green projects is limited.

 

 

     Statistics of the State Bank show that only about 24% of green projects have been developed by banks for credit appraisal process, which is mainly carried out at a number of head offices and branches of banks such as Sacombank, BIDV, VietinBank, Vietcombank, Agribank, SHB, ACB, Viet A Bank, OCB, Kiên Long Bank, PVCombank, HSBC...

     In addition, 26% of banks have developed and implemented an environmental and social risk management process in credit provision, including banks licensed to operate in the form of 100% foreign owned banks such as HSBC, Standard Chartered...

     Application of international experience

     To improve this situation, international organizations are always eager to support partners in Việt Nam in terms of financial investment and professional experience. The Global Climate Partnership Fund (GCPF) is one of the pioneers in mobilizing investment capital to reduce CO2 emissions into the environment, with a strong global capacity profile and experience in supporting the Fund's partners.

     GCPF has now invested in two financial institutions: Nam Á Bank and TPBank. Through this cooperation, Nam Á Bank and TP Bank Support Fund builds an environmental and social risk management system (environmental and social - E&S) according to international standards. Nam Á Bank is currently organizing intensive training and consultancy from GCPF experts in the implementation of the green credit portfolio. In the first phase, Nam Á Bank focuses on loans in the energy-saving appliances, auto irrigation systems, trucks, environmentally friendly building materials and attic solar panels. In subsequent stages, Nam Á Bank will expand its coverage to other sectors with the potential to reduce CO2 emissions.

     LEED is a green building certificate issued by the Green Building Council, established in 2000 in the United States. This is the pioneering international standard in the construction of energy-saving and environmental protection facilities for people. TP Bank, the latest partner of GCPF in Việt Nam, has developed a green credit portfolio for renewable energy projects and in cooperation with the GCPF to launch new products in both areas of energy saving and renewable energy.

 

Nam Việt

(Source: Vietnam Environment Administration Magazine, English Edition III - 2019)

 

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