The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has officially issued a sustainable loan framework in consultation with Carbon Trust.

It becomes the first commercial bank in Vietnam to release a comprehensive framework for customers, creating opportunities to develop and introduce sustainable financial products that follow international standards.

Sustainability is increasingly central to the long-term development of many countries, stemming from growing awareness about global climate change. In this context, many enterprises and individuals are working together to find ways to mitigate the adverse effects of climate change and improve sustainability efforts.

Significant financing is required to catalyze sustainability initiatives at the speed and scale needed to address climate change. Financial institutions have an essential role in providing green and sustainable financial resources and empowering customers to pursue sustainability.

BIDV has promoted sustainable and green growth as a goal in its business strategy for the 2021-25 period and vision to 2030. As of December 31, 2022, it was the market leader in green financing, with 1,386 customers and projects and total year-end outstanding loans of $2.68 billion.