The award was presented to BIDV during the "Announcement of Sustainable Enterprises in Vietnam 2024 - CSI 2024" event held in Hanoi. This is recognition of BIDV's efforts in sustainable development and important contributions to the national sustainable development strategy.

Mr. Le Ngoc Lam, CEO of BIDV represents the bank to receive the award

Recognizing the role and significance of sustainable growth, green economy, and circular economy to the national economy, BIDV has incorporated the goal of "towards sustainable development" throughout its banking operations in its business strategy for the 2021-2025 period with a vision to 2030, under the message “pioneering in creating sustainable value”.

BIDV pursues a strategy to position its brand as a Green Bank; striving to become a market leader in ESG (environmental, social, governance) practices and sustainable finance. The bank aims to gradually align with international standards for green finance; and implements a roadmap towards becoming a Net-Zero Bank by 2045.

In order to promote sustainable development and make a positive contribution to the national green transition strategy, BIDV has established the ESG Steering Committee and the Project Management Unit to build and implement its sustainable development strategy and ESG practices. This is an important step toward shaping a comprehensive ESG implementation model, aiming to make BIDV a pioneering bank in Vietnam in promoting sustainable development.

BIDV continues to improve its legal framework in line with the direction of the government and the State Bank of Vietnam; ready to accompany Vietnamese businesses in building a green economy.

In addition to issuing a Sustainable Loan Framework, Green Bond Framework, etc., laying the foundation for implementing green credit packages and preferential financing programs for green building projects, BIDV continues to issue the Environmental and Social Risk Management System (ESMS) in trade finance, marking a pioneering step in supporting export-import businesses to strengthen global trade, enhance value chains, and promote sustainable growth.

BIDV is recognized as the leading commercial bank in the Vietnamese market in mobilizing green capital and lending to green projects, with the green credit outstanding leading the market.

In addition to providing green credit from commercial capital sources, BIDV is a strategic partner of many international financial institutions and is the leading bank in managing foreign entrusted funds for sustainable development purposes.

To date, BIDV has managed over 250 foreign entrusted funds from governments of countries such as Germany, Switzerland, France, Japan, South Korea, and major international financial institutions such as the WB, AFD, ADB, KFW, NIB, EIB, JICA, EDCF, WHO, UNICEF… with a total commitment value of USD19.7 billion.

In 2023-2024, through two successful bond issuances, BIDV mobilized VND5,500 billion (equivalent to USD220 million) in green and sustainable bond capital, continuing to maintain its position as the leading institution in issuing ESG bonds in the domestic market. From these proceeds, BIDV has launched preferential green credit programs for priority sectors such as renewable energy; clean energy; low-carbon production and consumption industries; and climate change adaptation. For businesses, BIDV has implemented green credit programs, such as a VND4.2 trillion (USD168 million) credit package for textile enterprises meeting international sustainability standards/certifications; a VND10 trillion (USD400 million) package for environmentally friendly projects that save and efficiently use resources; and a VND5 trillion (USD200 million) package to finance clean water production and supply projects.

Soc Trang 7 wind power plant financed by BIDV through a concessional loan from the AFD

For individual customers, BIDV has launched a VND10 trillion (USD400 million) credit package to support the purchase of green products, renewable energy, or production and business activities in green sectors. At the same time, the bank has also strengthened cooperation with major domestic and international electric vehicle manufacturers to implement loan policies for individuals for purchasing vehicles.

As of 30 September 2024, BIDV had provided green credit to 1,680 customers with 2,068 projects, with green outstanding credit reaching VND75.1 trillion (USD3 billion), accounting for approximately 3.9 percent of BIDV's total outstanding loans and about 11.3 percent of the total green credit outstanding in the economy. With its current green credit scale, BIDV plans to continue growing its outstanding loans and the proportion of green credit each year, striving to maintain its position as one of the leading banks in the share and scale of green credit provided to the market.

In addition to its business activities, BIDV also affirms its pioneering role in fulfilling social responsibility, implementing effective social security activities, with a focus on key areas in line with the government’s sustainable development direction. Furthermore, the bank actively promotes green initiatives related to gender equality and is committed to long-term collaboration to enhance the community’s capacity to cope with climate change.

The announcement of Sustainable Enterprises in Vietnam 2024 was organized by the Vietnam Chamber of Commerce and Industry (VCCI) in coordination with the Central Economic Commission, the Ministry of Labor, Invalids, and Social Affairs, the Ministry of Natural Resources and Environment, and the Vietnam General Confederation of Labor. To achieve the "Sustainable Development Enterprise" award, participating companies must meet the stringent criteria of the Corporate Sustainability Index (CSI) across multiple aspects: corporate governance, environment, labor, and society. The CSI 2024 significantly increases the ‘quantification’ of the indicators, meaning that additional quantitative indicators have been added, especially those related to the environment. Furthermore, the environmental indicators are more clearly classified into two groups: ‘compliance’- basic indicators, and ‘initiative’ — advanced indicators. Of the 153 indicators in the CSI 2024, 62 percent are compliance indicators, and 38 percent are advanced ones.