HSBC and Mobile World sign sustainability-linked trade agreement

The loan is provided to support TGDD’s working capital in recognition of their efforts to reduce greenhouse gas emissions across it operations, while implementing action to minimise plastic bags in its stores.

TGDD is Vietnam’s leading mobile phone and consumer electronics retail chain with over 3,000 points of sales nationwide and millions of products sold annually.

TGDD’s ESG Key Performance Indicators were developed in line with international Sustainability-Linked Loan Principles (SLLP) and validated by an external Second Party Opinion firm.

“The transaction with TGDD reflects HSBC’s ongoing efforts to support Vietnamese corporates to adopt more sustainable business practices,” said Tim Evans, CEO and head of Banking at HSBC Vietnam. “Building the strategic relationship with Mobile World Group for nearly 20 years has helped us appreciate their long-term strategy and leverage our solutions to meet their increasing demands.”

Vu Dang Linh, CFO of Mobile World Group said, “Sustainability is more than just a trend—it is our responsibility to the environment and society. This sustainability-linked trade loan provides working capital to The Gioi Di Dong in the recognition of our strategy to reduce greenhouse gas emission intensity and reduce use of plastic bags across our retail network.”

IFC’s record climate financing in Vietnam supports green transition Boosting its support for Vietnam's green transition and sustainable development, the International Finance Corporation (IFC) scaled up its long-term investment in the country with a strong focus on climate finance in the last fiscal year.

Green finance to be unlocked As Vietnam progresses towards sustainability, integrating green finance is key to balancing economic growth with environmental preservation. The country’s unique social, political, economic, and environmental context presents both pros and cons for leveraging green finance solutions that align with global best practices while addressing local realities.

EIB and SBV deepen green finance cooperation to support energy transition The European Investment Bank (EIB), the financing arm of the European Union, and the State Bank of Vietnam (SBV) on March 12 announced commitments to deepening their cooperation on sustainable finance through technical assistance under the EIB’s Greening Financial Systems (GFS) programme.