Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has just become one of the first private banks in Vietnam to successfully issue green bonds, creating medium and long-term capital sources for projects that benefit the environment and develop a green economy.
HDBank is one of the first banks to build an environmental and social risk management system to promote green credit and sustainable finance - Photo: VGP/PD
HDBank has successfully issued VND3,000 billion worth of green bonds with terms of 2 years, 3 years and 5 years, on the principle of voluntary compliance with the principles of green bond issuance of the International Capital Market Association (ICMA) and the Credit Market Association (LMA). Green bonds issued by HDBank have attracted strong interest from large professional investors in the market, with the volume of successful orders reaching 100% in a short time. The capital mobilized from green bonds will be lent to projects that meet the standards in HDBank's "Sustainable Finance Framework", in order to contribute to environmental protection and promote green economic development. Creating momentum for sustainable development Previously, HDBank also became one of the first banks in Vietnam to announce a "Sustainable Finance Framework" in line with ICMA and LMA standards, developed with technical support from the International Finance Corporation (IFC) - a member of the World Bank (WB) and received a "very good" rating from international rating agency Moody's. Mr. Pham Quoc Thanh, CEO of HDBank said: "The announcement of the Sustainable Finance Framework and pioneering the issuance of green bonds in Vietnam are clear demonstrations of HDBank's commitment to the sustainable development strategy. This not only creates momentum to promote green growth, but also mobilizes medium and long-term capital from green bonds to support projects that bring environmental benefits, reduce CO2 emissions and accompany the Government in the goal of achieving carbon neutrality by 2050". Along with those pioneering efforts, in Vietnam, HDBank is one of the first banks to build an environmental and social risk management system to promote green credit and sustainable finance. Over the years, HDBank has been highly appreciated by international financial organizations such as IFC, ADB, DEG, Proparco, etc. for its efforts in climate finance and gender equality. Currently, HDBank is also the first bank in Vietnam to establish an ESG Committee (on environment, society and governance) under the Board of Directors to lead and monitor sustainable development initiatives; pioneering the issuance of a separate report on sustainable development in 2024. In the stock market, 2024 also marks 5 consecutive years that HDBank is a bank in the Top 20 of the Vietnam Sustainability Index (VNSI) developed and evaluated by the Ho Chi Minh City Stock Exchange (HoSE). Source: https://baochinhphu.vn/hdbank-phat-hanh-thanh-cong-3000-ty-dong-trai-phieu-xanh-102250103120329701.htm
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