Orienting MB towards sustainable development, CEO Pham Nhu Anh regularly proposes building a green credit mechanism and bringing a green living culture into the business.
In the period of 2019-2020, when leading the large corporate customer block (CIB), Mr. Pham Nhu Anh recognized that green credit is an inevitable direction. According to him, renewable energy is a development trend in Vietnam and MB prioritizes credit for this field, especially wind power and solar power.
Three years ago, Mr. Pham Nhu Anh made many recommendations and proposals to management agencies to have a vision to build a mechanism for green credit, prioritizing credit growth limits for banks lending to green energy projects every year. The CEO of MB believes that there should be support programs or connections with foreign financial institutions to refinance and issue preferential green bonds for banks and businesses participating in green credit.
Mr. Pham Nhu Anh, General Director of Military Commercial Joint Stock Bank. Photo: MB
MB representatives also made many proposals to relevant agencies to create legal corridors and solutions to remove obstacles and promote the renewable energy sector, thereby helping this sector contribute more to the socio-economic development of Vietnam. Accordingly, there should be more open policies to support capital mobilization for businesses in this sector.
"It is necessary to consider not limiting the number of bond issuances because wind power projects take 2-3 years to construct, so limiting the number of issuances makes it impossible for investors to mobilize capital through the form of issuing corporate bonds," he shared.
This bank currently provides finance for more than 30 solar and wind power projects with a total scale of about 70,000 billion VND, helping investors generate about 3,600 MW of renewable energy, contributing to increasing clean energy sources. Renewable energy projects with branded investors in the South Central, Central Highlands and Southwest regions... all have the contribution of credit lines provided and arranged by MB.
In the coming time, the bank will continue to prioritize renewable energy sectors, especially after the Power Plan 8 was officially approved, creating many favorable conditions for this sector to develop. According to MB CEO, the credit priority of a green bank is not only for wind power and solar power but also many incentives for businesses with environmentally friendly activities. For example, customers who borrow with low-emission production technology, recycling technology, etc. will receive support from the bank in terms of fees and interest rates. MB also has a fund to serve these incentive packages.
According to Mr. Pham Nhu Anh, green credit is one of the three important factors of the Green Banking goal that MB is aiming for. Specifically, the bank forms an environmentally friendly lifestyle and spreads the green living culture to each officer and employee through the use of recycled materials and energy saving in the office. Currently, most of MB's internal activities are no longer paperless but digitalized.
In addition, this bank also helps customers and partners in the ecosystem solve environmental issues and sustainable development. Through interaction on a technology platform, both MB and customers save on paperwork and travel, thereby reducing emissions to the environment. The bank also supports customers in green transformation, possibly in the form of financial sponsorship or inviting consultants and companions.
"Through the bank's practical actions, MB's green banking model will actively contribute to the sustainable development of society, especially when MB's ecosystem owns nearly 24 million customers, equivalent to more than 24% of the country's population," Mr. Pham Nhu Anh added.
Wisdom
Comment (0)