Within the framework of the Vietnam Sustainable Development Business Forum 2023 held in Hanoi on 23 August 2023, BIDV's representative, experts and speakers discussed important contents such as: promoting circular economy model, low emission; building a green supply chain; biodiversity conservation; sustainable energy transition; blue economy; practicing Environmental - Social - Governance (ESG) framework in businesses.

Speaking at the Forum, Mr. Le Ngoc Lam - CEO of BIDV said:

In recent years, sustainable finance has become a globally strong development trend, as well as in Vietnam. As the leading state-owned commercial bank, BIDV has always pioneered and effectively implemented the policies and directions of the Government and the State Bank of Vietnam in promoting the development of green credit and green banking. BIDV is willing to accompany the business community, contributing to the implementation of the national green transformation strategy.

BIDV’s CEO Mr. Le Ngoc Lam (second from right) delivers a speech at Vietnam Sustainable Development Business Forum 2023

Accordingly, BIDV identifies sustainable development, green finance and practicing ESG as core contents in the bank's development strategy. BIDV has developed and implemented an Action Program for ESG implementation and sustainable financing development for the period of 2023-2025, with a vision to 2030; established a unit specialized in ESG management according to international standards and practices.

In addition, BIDV has actively exchanged information and cooperated with ministries and authorities to connect opportunities for sustainable financing implementation; focusing on strengthening cooperation with international organizations in the field of sustainable development to deploy green capital in Vietnam. In particular, BIDV has successfully deployed funds from the World Bank (WB) with requirements on environmental protection in the lending process since 1996; signing a USD300 million loan agreement with the Asian Development Bank (ADB) to support small and medium enterprises to meet environmental - social requirements; a USD100 million SUNREF Green Credit Line agreement with the French Development Agency (AFD).

BIDV professionalized environmental and social risk management in credit extension; issuing the Sustainable Loan Framework to provide green loans, sustainability-linked loans to businesses. Currently, BIDV is actively completing a green bond issuance framework, aiming to be the first bank to successfully issue green bonds in the market.

BIDV has clearly identified sustainable finance, green project financing, emission reduction, and response to climate change as the most important contents in the business strategy of the whole bank’s system. As of 30 June 2023, BIDV was the market leader in green financing with a credit balance of about USD2.81 billion, accounting for 4.1% of BIDV's total outstanding loans to 1.447 customers.

BIDV is committed to creating favorable conditions for customers to access sustainable products and financial sources; ready to provide supportive information and professional consulting services to help businesses understand the benefits and potentials of transition to sustainability.