Sustainable Development

VPBank's commitment to environment and society

In alignment with the development orientation towards green economy model, the Government issued the National Strategy on Green Growth for the period 2011-2020 with a vision to 2050.

In alignment with the development orientation towards green economy model, the Government issued the National Strategy on Green Growth for the period 2011-2020 with a vision to 2050 (Decision No. 1393/QD-TTg dated September 25, 2012) in 2012 and the National Action Plan on Green Growth for the period 2014-2020 (Decision No. 403/QD-TTg dated March 20, 2014 of the Prime Minister).  Implementing this strategy, the State Bank of Vietnam (SBV) is delegated to improve the institution and enhance the financial and credit efficiency of commercial banks for green growth. The SBV therefore issued Directive No. 03/CT-NHNN dated March 24, 2015 on Promoting green credit growth and environmental – social risks management in credit granting activities and Decision No. 1552/QD-NHNN dated August 06, 2015 on the Action Plan of the Banking sector to implement the National Strategy on Green Growth towards 2020. Under these policies, commercial banks are encouraged to take the initiative in developing policies for managing environmental and social (E&S) risks as well as implementing measures to promote green credit growth.

To comply with the objectives of green credit growth and development as directed by the Government and the SBV; to ensure the prevention of E&S risks, thereby to contribute to the prosperous and sustainable development; and to fulfill the commitment to E&S responsibilities, VPBank was one of the first commercial banks that have developed the Environmental and Social risk Management System and promulgated Environmental and Social Policies declaring VPBank's compliance with E&S standards since 2016. The E&S policy was developed and issued by VPBank on the basis of compliance with the relevant National Laws and the Performance Standards of IFC, and has become an indispensable part of VPBank's credit risk management activities. In addition, in order to improve the E&S risk management system, VPBank continuously enhances the E&S risk identification and assessment capabilities of its staff, including staff members in charge of investment analysis and E&S compliance management, to prevent the potential risks.

With such efforts, VPBank pledges to:

  • Fully comply with the provisions of Vietnamese law and VPBank's commitment to international organizations on environment and society.
  • Not engage in any activities of, provide funding or other support to customers engaged in any of the listed activities making negative impacts on the environment and society (VPBank’s Exclusion List).
  • Integrate the evaluation of E&S risks into VPBank's business and risk management programs.
  • Communicate about E&S goals and implementation to all staff members and stakeholders.
  • Step by step cooperate with the Government as well as national and international organizations to research and develop green credit products to support and promote environmental protection and enhance social responsibilities in production, trade and services of the customers.

VPBank recognizes that sustainable financial principles are the fundamental precondition for better management of E&S risks in the Portfolio as well as for exploring new business opportunities. VPBank always accompanies the Government and international organizations in addressing important E&S issues of the Earth by developing policies and taking E&S risk management actions in our credit granting activities, and step by step developing green credit support products to eliminate projects with negative E&S impacts, mitigate ecological footprint and climate change, conserve biodiversity and carry out social responsibilities.

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