The journey towards sustainable development of commercial banks in Vietnam has just been honored at the contest "Green Bank for Green Life" taking place from November 13-14, 2024 at the Vietnam-Soviet Friendship Cultural Palace, Hanoi. This is the first time the banking industry has organized a specialized playground on green operations with the participation of many large banks.
With an excellent performance, the BIDV Trade Union team was honored to receive the highest award at the competition. This achievement not only affirms BIDV's professional capacity in green banking but also demonstrates BIDV's long-term commitment to the green growth strategy, which has been strongly implemented from the 2021-2025 period, with a vision to 2030.
BIDV's journey to "Green Bank"
BIDV is one of the pioneering commercial banks in Vietnam to put the green growth strategy into practice, laying the foundation for a comprehensive transformation in the banking industry. With the goal of becoming a leading “Green Bank”, BIDV has implemented many synchronous solutions, from innovating the organizational model, building a green product ecosystem to enhancing international cooperation on sustainable finance.
One of the highlights is BIDV's promotion of green credit development, supporting areas such as renewable energy, clean agriculture and low-emission consumption. By mid-2024, BIDV's green credit balance will reach over VND75,500 billion, accounting for 4.1% of the total outstanding loans of the entire BIDV banking system and 11% of the economy's green credit balance. These figures demonstrate BIDV's leading role in providing capital for projects that contribute to environmental protection.
Not only focusing on credit, BIDV also pioneered the issuance of green bonds according to international standards with a total issuance value of VND 5,500 billion in the period of 2023-2024. This is a strategic step to enhance the ability to mobilize long-term capital to serve sustainable projects.
To spread the spirit of green development, BIDV has also implemented a series of meaningful community programs. A typical example is the “1 million trees” initiative with 400,000 trees planted in many localities, contributing to minimizing the impact of climate change. The bank also organizes specialized preferential loan packages such as VND 10,000 billion for green agriculture or VND 5,000 billion to support clean water enterprises, creating conditions for enterprises to access capital for sustainable development.
In addition, BIDV continuously raises awareness of green growth internally through training and movement activities. This commitment is clearly demonstrated in its business strategy, aiming to become a “Net-Zero Bank” and accompanying the Vietnamese Government in international commitments to combat climate change.
With a long-term vision and achievements, BIDV is affirming its pioneering position in the field of green banking, laying a solid foundation for the sustainable development of Vietnam's financial sector.
Competition "Green bank for green life"
The “Green Bank for Green Life 2024” contest is not only a professional playground but also an opportunity for banks to share experiences and raise awareness of the role of green banking in sustainable development. With diverse competition formats, from team introduction dramatization, knowledge quizzes to eloquence contests, the teams have brought a vibrant, cohesive and meaningful atmosphere.
The award that BIDV received at the contest is a motivation for the bank to continue to pioneer in developing green banking, not only for economic benefits but also for the sustainable future of Vietnam and the world.
