Standard Chartered named Best ESG Bank in Vietnam in 2022 by Asiamoney

“We are committed to reaching net zero carbon emissions from our operations by 2030, and from our financing by 2050. We acknowledge the need to ensure that these objectives are achieved whilst supporting economic growth and prosperity across societies and thus achieving a just transition. We have been making an impact in Vietnam by providing finance to where it matters most and focusing on ESG in our operations. I’m so happy that our efforts have been recognised by this prestigious accolade.” said Michele Wee, CEO of Standard Chartered Vietnam.

Earlier this year, Standard Chartered Vietnam was one of the first in Vietnam to launch a green mortage loan and carbon-neutral debit and credit cards. These are part of a series of green products that have been and will be launched by the bank to encourage clients to adopt a greener lifestyle and protect the environment.

In June, the bank inaugurated its new head office in Hanoi, which is a demonstration of the bank’s sustainability commitment. The building is recognised with the LEED certification and the WELL building standard, in line with the bank’s efforts to establish an energy-efficient, environmentally friendly, and healthier workplace. The bank also applies sustainable features and standards in the new head office, from the light system to the materials used for the facilities.

Standard Chartered Vietnam is also known for its support for clients and the authorities as they seek to accelerate their sustainability agenda.

In September, on the occasion of its Group CEO Bill Winters’ visit to Vietnam, the bank signed an MoU with the Ministry of Natural Resources (MoNRE) on climate change response cooperation. Under the MoU, the bank will support MoNRE with capacity building and private sector engagement in climate action and the development of green and sustainable finance frameworks as well as carbon market development and knowledge exchange.

The bank also signed minutes of cooperation in gender equity with the State Bank of Vietnam. The cooperation will include annual conferences that offer global perspectives on female leadership and skills upgrades for women; implementation of social responsibility programmes to support disadvantaged women; and sharing of diversity and inclusion best practices and experiences.

In February, Standard Chartered collaborated with the Ministry of Foreign Affairs (MoFA) and Standard Chartered Bank Vietnam to organise the Economic Outlook and Green Finance Policy Forum in Hanoi, which attracted representatives from state agencies, embassies, the Asian Development Bank, businesses, and economists.

The event benefited participants with interesting views on the global and regional trends on green finance and solutions and policy recommendations for the country on green financing in achieving sustainable development goals.

Currently, the bank is partnering with the British Chamber of Commerce in Vietnam to run a series of sustainability webinars that aim to promote sustainable development in Vietnam and the application of ESG among businesses. The series covering six webinars on topical matters related to ESG and sustainability has been launched last September and will run until the end of 2022 to support participating businesses and organisations devise effective strategies for their sustainable development.

In 2021, Standard Chartered exchanged MoUs worth a total of $8.5 billion with three Vietnamese businesses on projects to support their sustainability goals.

Standard Chartered Vietnam scoops prestigeous awards Standard Chartered Vietnam has been named the Best Service Provider - Cash Management for the second consecutive year and Best Payments and Collections Solution for Dragon Capital Vietfund Management in 2022 in the Asset Triple A Awards.

Standard Chartered expects Vietnam’s recovery to stay strong in August In its latest Global Research report on Vietnam, Standard Chartered Bank anticipates Vietnam’s economy to see a continued recovery in August, as the economic revival has shown signs of broadening.

Standard Chartered Bank forecasts Vietnam’s Q3 GDP growth at 10.8 per cent Standard Chartered Bank forecasts Vietnam’s GDP growth for Q3 and Q4 at 10.8 per cent and 3.9 per cent, respectively, taking full-year growth to 6.7 per cent. High global oil prices may have negative consequences on the economy.