Banks lead Vietnam’s ESG push with record sustainability disclosures. (Photo: iStock)
Vietnam’s financial industry is gaining momentum in promoting sustainable and green economic development, spurred by government initiatives.
According to the State Bank of Vietnam (SBV), a record 33 financial institutions released sustainability reports in 2024—the highest number to date. Additionally, the government recently approved a resolution offering a 2% interest rate subsidy for qualifying businesses, while also working to improve green credit liquidity.
Vietnamese banks take the lead with sustainability reports
The number of Vietnamese commercial banks publishing sustainability reports has surged in 2024. Most of these institutions have incorporated ESG (Environmental, Social, and Governance) criteria in their disclosures, and over ten banks have released separate ESG reports. As of May 2024, six banks have already published their sustainability reports.