TPBank recreates the greening step by step of a "humane" digital bank
The Sustainable Development Report (PTBV) clearly depicts the entire green transformation journey of Tien Phong Commercial Joint Stock Bank (TPBank, MCK: TPB) through practical activities, proud achievements and strong commitments on the journey of comprehensive and sustainable ESG practice.
This is the first year TPBank has published a report on its sustainable development achievements. Accordingly, TPBank's sustainable development report is built with reference to the Global Reporting Initiative (GRI)'s Sustainable Development Reporting Standards - The Universal Standards 2021; the Guidelines of the Task Force on Climate-Related Financial Disclosures (TCFD) of the Financial Stability Board (FSD); and the Environmental & Social Disclosure Guidelines developed by the State Securities Commission in collaboration with the International Finance Corporation (IFC). At the same time, the report demonstrates the bank's strategic results in contributing to the realization of the 17 United Nations Sustainable Development Goals (UN SDGs) by 2030.
Sharing about TPBank's sustainable development strategy, the bank representative said: "In addition to the commitment to bring optimal value to customers and shareholders and create the best conditions for the development of employees, TPBank always sets the mission of "banking for humanity" - developing for people and contributing to national prosperity as the guiding principle of action. On the journey of growth, TPBank steadfastly pursues a sustainable development strategy with a modern, pioneering and drastic spirit, aiming for green - transparent - effective successes".
TPBank deeply integrates ESG into its operational strategy
TPBank will begin to develop and implement a comprehensive ESG Governance Framework, while continuing to improve the Environmental and Social Risk Management System (ESMS) according to international standards, from 2023.
The Bank deeply integrates ESG factors into strategy development, decision-making and implementation, aiming to maximize benefits for all stakeholders. TPBank actively implements ESG initiatives such as reducing carbon emissions by digitizing over 90% of banking operations and developing a digital banking ecosystem, as well as accompanying customers and partners in green transformation.
With its social commitments, TPBank has been constantly striving to improve access to financial services for the community, especially low-income people, vulnerable groups, and small and medium enterprises. The Bank is honored to be recognized as "Best Trade Partner Bank - Gender-Inclusive Finance 2024" by IFC, receive the award for leading in supporting small and medium enterprises (SMEs) from ADB, and top the ranking of strong banks in Vietnam by The Asian Banker.
Sustainable development is the top priority in long-term planning.
From now until 2028, TPBank will continue to make strong breakthroughs with a unique development formula: Understanding customers - Creating experiences - Leading technology, while firmly pursuing ESG goals to accompany the development of the community and society.
Regarding the environment, TPBank pioneers in implementing green credit and financing renewable energy to promote a low-carbon economy, while optimizing digital banking operations to reduce carbon emissions and develop an environmentally friendly transaction network.
Socially, the bank promotes financial inclusion, improves people's access to financial services, maintains responsible investment and focuses on building a team of highly qualified and socially responsible employees.
In terms of governance, TPBank ensures transparency, improves efficiency and comprehensive risk management according to international standards, focuses on developing financial technology and applying digital technology in line with Vietnam's green growth strategy. The digital and sustainable future of people, businesses and the country is a great driving force for TPBank to persevere in its journey of promoting continuous innovation and enhancing competitiveness, bringing lasting value to shareholders, customers and investors.
TPBank identifies that practicing and integrating ESG factors not only benefits the environment and society, but also helps improve operational efficiency and sustainable development in the future. Therefore, the bank sets sustainable development as one of the top and priority tasks of its long-term plan, in which ESG practice is the most practical tool that TPBank has been implementing to achieve sustainable development goals, thereby contributing to the common prosperity of the country.
Details of TPBank's 2023 Sustainable Development Report can be found HERE.
