Practical implementation of sustainable financial solutions at BIDV
Speaking at the Workshop "Unblocking green credit flows" organized by Lao Dong Newspaper in coordination with the State Bank of Vietnam on the afternoon of April 25, Mr. Vuong Thanh Long - Deputy Head of Capital and currency Business, Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) said - BIDV has built a rich portfolio of green finance products, suitable for the actual needs of businesses.
"BIDV develops and provides preferential loans for green projects that meet sustainability criteria, including green credit, sustainable linkage loans (SLL) with interest rates associated with specific ESG KPI targets, as well as ESG bond issuance consulting services.
BIDV deploys credit packages with technical assistance services and preferential policies to address the practical difficulties that many businesses face in meeting ESG criteria. BIDV combines capital provision with in-depth technical consulting, helping businesses prepare sustainability reports, inventory greenhouse gas emissions and complete green certificates. BIDV's preferential credit policies and packages are also applied to key industries that need green transformation such as textiles, green works, and clean water, with a scale of up to about 20,000 billion VND. We also reduce service fees for transactions applying environmental and social risk assessment" - Mr. Vuong Thanh Long said.
Mr. Vuong Thanh Long said that BIDV has cooperated closely with international financial institutions such as ADB, AFD and many other partners to implement preferential loan programs. At the same time, we provide comprehensive consulting services to help businesses access international funding sources and implement sustainable financial strategies, thereby creating favorable conditions for businesses to participate in international financial markets.
BIDV actively connects businesses with the ESG service ecosystem through a network of prestigious partners. We provide a list of ESG consulting and auditing partners that meet international standards, supporting connections with ESG confirmation and rating service providers. At the same time, proactively build a platform to connect businesses and experts in the ESG space, helping businesses be ready to participate in sustainable financial opportunities.
BIDV provides consulting and support services with full information on green finance and ESG. BIDV organizes in-depth seminars, providing updated documents on policies, regulations and market trends. At the same time, it guides businesses to build green transformation roadmaps, assess ESG risks and prepare green loan applications, helping businesses prepare to participate in sustainable financial opportunities.
BIDV also cooperates with technology partners to deploy green and digital technology solutions in ESG management for corporate customers. BIDV supports businesses in accessing green technologies to reduce carbon and optimize energy and resources. In addition, BIDV connects businesses with ESG measurement and reporting platforms, including ESG data tracking tools and greenhouse gas inventories, supporting businesses to report sustainable development effectively.
BIDV commits to continue expanding its portfolio of green finance products
According to Mr. Vuong Thanh Long - all of the above solutions aim to build a comprehensive ecosystem, fully meeting all needs of businesses in the green transformation journey, from information access, raising thinking, awareness, to grasping standards, criteria, conditions, solutions on technology, digitalization, measurement, ESG reporting, ... Including an important step is successful access to preferential green financial products and packages.
BIDV leaders said that with a clear strategic orientation and a system of practical solutions being implemented synchronously, BIDV identifies green finance as both a development goal and a method to realize its commitment to accompany businesses in the green transformation journey.
Effective use of green financial instruments not only helps businesses save costs, but also increases awareness and good practices, meeting ESG requirements, thereby enhancing the capacity to expand international cooperation and competition opportunities.
"In the coming time, BIDV is committed to continuing to expand its portfolio of green/sustainable financial products to serve customers. At the same time, it promotes the integration of ESG factors in all banking activities. We will continue to accompany and support businesses in accessing appropriate financial resources, improving their implementation capacity and working together towards the goal of sustainable, inclusive and prosperous development" - Mr. Vuong Thanh Long emphasized.
