PAN Group and Standard Chartered Vietnam collaborate to implement ESG financial solutions

The PAN Group and Standard Chartered Vietnam collaborate to implement ESG financial solutions and services at COP28

Within the framework of the World Climate Action Summit at COP28 held in the UAE, The PAN Group and Standard Chartered Vietnam proceeded to sign a MoU, to collaborate on the implementation of ESG financial solutions and services.

Accordingly, Standard Chartered Vietnam supports PAN in accessing financial solutions and services based on ESG factors to meet the investment needs in the Group's sustainable development projects.

In addition to green credits and/or sustainable-linked loans, the programme also provides funding for initiatives including developing cashew nut production lines, promoting value-added aquaculture products, and increasing rice farmers’ income.

In light of this, the projects included in the programme need to meet specific criteria and adhere to Standard Chartered Vietnam's sustainable finance framework, as well as the principles of green lending or green bonds.

This collaborative effort presents mutually beneficial opportunities. Specifically, The PAN Group can expand its financial options for the Group's development projects and subsidiaries through ESG-related solutions. Likewise, by collaborating with PAN on ESG financial solutions, Standard Chartered Vietnam can support PAN’s line-up of green projects. This, in turn will help Vietnamese businesses gain access to the green finance market, which reinforces the government's strong commitment to sustainable development goals, emission reduction, and carbon neutrality.

This partnership took place within the framework of the World Climate Action Summit at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), witnessed by Prime Minister Pham Minh Chinh along with representatives from Vietnam.

With the participation of over 130 heads of state from various countries to discuss and seek long-term solutions in response to climate change, COP28 is regarded as the most important multilateral conference on climate change this year.

It is also anticipated to be the most comprehensive COP meeting, fostering collaboration and dialogue among regions worldwide to identify viable and practical resolutions to the climate crisis.

For its part, since Vietnam's announcement at COP26 (in 2021) of its commitment to reach net-zero emissions by 2050, the Vietnamese government, along with its ministries, sectors, and localities, has taken bold and specific efforts to achieve this goal.

Striving for sustainability amid the pandemic While the global health crisis continues to impact the business community, a number of manufacturers in Vietnam have been focusing on sustainability by emphasising a strong corporate culture and contributing to the country’s sustainable development.

Investment in Mekong subregion expected to recover post pandemic At the 10th Mekong forum on strengthening development cooperation and economic recovery in the Mekong region on September 23, the attendants discussed ways to recover the economies of the Mekong subregion countries in collaboration with policy adjustments.

Agricultural enterprises focus on emissions mitigation Many agricultural enterprises, especially food exporting and processing enterprises, are working to save energy, contributing to meeting the country’s greenhouse gas (GHG) emissions target.

Financial stability key to green finance for plastics industry Foreign investors continue to eye the plastics industry in Vietnam, making it an enticing prospect for numerous merger and acquisition moves. The sector is prioritising the acquisition of more green investment to enhance its global competitiveness.

MB leads the charge in green finance at VIOD 6th annual forum Military Commercial Joint Stock Bank (MB) has just been distinguished with the "Board of the Year" award, a testament to its role in propelling businesses towards environmentally sustainable practices on November 22.