Cherish the sustainable values

Conveying the key message “Fostering sustainable values”, BIDV’s 2022 annual report demonstrates BIDV’s green banking and sustainable development strategy, clearly evidenced through the bank’s brand positioning. BIDV’s annual report fully, transparently, and comprehensively incorporates information on objectives, strategies, situations, business performance, and ASEAN Corporate Governance Scorecard-based corporate governance report and sustainable development report with 3 key dimensions, including (i) Sustainable economic growth; (ii) Investment for community development; (iii) Contribution for environmental protection in compliance with regulations on information disclosure and international standards and practices.

Given transparent and consistent information, organized, professional, and creative content and format, BIDV Annual Report remains one of the official and reliable information channels for investors, shareholders, partners, and customers, affirming the position of the most well-established and largest bank in terms of total assets in Vietnam.

The annual Report’s scoring criteria for this year adhere to Circular No. 96/2020/TT-BTC of the Ministry of Finance guiding information disclosure on the stock market, carried out by a group of independent experts and reviewed by Big Four global accounting firms to ensure accuracy, objectivity, and deep-dive selection. 2023 marks the third year greenhouse gas emission reduction is included in the scoring criteria in the Annual Report category. This year, 116 businesses with the best Annual Reports were voted into the final round. Among them, 30 enterprises with the best Annual Reports, including 10 in the financial sector and 20 in the non-financial sector, were selected by the Voting Council.

Mr. Tran Phuong - Deputy CEO of BIDV - stated:

“BIDV’s business development strategy until 2025, vision to 2030 defines “towards sustainable development” as a consistent goal in the bank’s operations, making green credit and green finance a priority in the development strategy. This message has also been clearly shown in BIDV’s 2022 Annual Report with transparent updates on business operations as well as sustainable development at BIDV.

BIDV Deputy CEO Tran Phuong shared his opinions at the Corporate Governance Seminar towards sustainable development

Nurture a green future

As a leading bank in deposit and credit market share, BIDV has always taken the lead in effectively implementing the guiding policies of the Government and the SBV to promote socio-economic development. The establishment of the Steering Committee for building and implementing the Sustainable Development Strategy and overall ESG practices shows BIDV’s strong commitment and clear roadmap on the journey to become the leading bank in green, sustainable development, and ESG practices in Vietnam.

BIDV is the first domestic bank to issue a “Sustainable Loan Framework” in consultation with Carbon Trust, facilitating the development and introduction of sustainable financial products following international standards to customers. BIDV also issued the “Green Bond Framework” following the green bond principles of the International Capital Market Association (ICMA), which received high recognition from Moody’s with a SQS2 rating (very good). In October 2023, BIDV successfully issued green bonds worth VND 2,500 billion (about more than US$100 million) to finance projects focusing on environmental protection focus. BIDV is also a pioneering bank cooperating with the Ministry of Natural Resources and Environment in promoting green finance, sustainable development and climate resilience. As of 30 September 2023, BIDV led the market in green credit with more than 1,800 green projects and a total green loan balance of over VND 73 trillion, accounting for over 13% of the total green loan balance of the economy.

Since 2005, BIDV has also pioneered mobilizing international trust funds to re-lend green credit projects towards sustainable development goals. As of 30 November 2023, BIDV mobilized more than USD 490 million from major international organizations such as WB, AFD, EIB... to fund green projects (with priority given to renewable energy and energy efficiency projects), taking the lead among commercial banks in deploying international funds to finance green credit.

At the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), “addressing climate finance” was identified as one of the four key focuses for discussion by the Conference. Promoting the pioneering role, within COP28, in the presence of Prime Minister Pham Minh Chinh and leaders of relevant ministries, BIDV awarded a cooperation agreement to the Asian Development Bank (ADB) and Standard Chartered Bank (SCB) on promoting green finance and sustainable finance activities. This event reaffirmed BIDV’s strong commitment to sustainable development. This is also BIDV’s message to the domestic and international community about the prioritized partnerships to promote sustainable finance, making a positive contribution to implementing the Government’s commitment to emission reduction and environmental protection; striving to become the leading bank in the Vietnamese market in sustainable development, green credit and ESG practices.