OCB announces independent sustainability report 2023

Recently, Orient Commercial Joint Stock Bank (HOSE: OCB) announced the 2023 Sustainable Development Report with the theme: "Green Banking Transformation Journey" and became one of the pioneering banks to build and publish an independent sustainable development report across the system.

Sustainable development milestones at OCB in 2023 - Photo: VGP/LN

With the theme "Green Banking Transformation Journey", the report fully describes each step of OCB 's transformation in greening the bank's operations towards the goal of becoming a "Green" Bank, contributing to the sustainable development of Vietnam . In addition, the report also provides complete information including goals, orientations, achievements, outstanding activities and initiatives in 2023 as well as the bank's future plans for important sustainable development issues. Thereby, OCB wishes to convey the message of commitments, efforts and many specific action programs, helping stakeholders (including customers, shareholders, employees, management agencies and the community) have a full view of the sustainable development journey that has been and is taking place in each business and operational activity at OCB. The content of the report is prepared on the basis of meeting and strictly complying with the regulations on information disclosure according to Circular 96/2020/TT-BTC, and referring to the Global Reporting Initiative (GRI) Standards, issued by the Global Sustainability Standards Board (GSSB) in 2016 and adjusted in 2021. "We believe that OCB's efforts to manage the bank's impact on environmental - social - governance aspects also contribute to the United Nations' sustainable development goals (SDGs). At the same time, proactively issuing an independent sustainability report for the 2023 fiscal year has demonstrated the bank's commitment to transparency, objectivity and honesty in all its activities. These are also the core values ​​that we have always strived to maintain throughout the journey of construction and development," said Mr. Pham Hong Hai, General Director of OCB.

OCB's activities are all aimed at sustainable development strategy - Photo: VGP/LN

The goal of becoming a "Green" Bank was laid down by OCB very early and built into an overall strategy with the support of many prestigious international organizations such as IFC. The Bank will take specific actions to contribute to increasing the efficiency and speed of green transformation. Provide financial products and services to stakeholders. Digitalize banking activities to improve service quality, reduce processing time, and save paper. Implement technical solutions (automatic devices, sensors), communication programs, ESG initiatives for the purpose of efficient use of energy resources (electricity, water). Upgrade and supplement the content of training programs to improve the "Green" capacity of staff to meet the needs of transformation, along with many other activities. We are committed to steadfastly pursuing the journey of sustainable development, integrating the principles of sustainable development into business activities, operations and governance in the bank: Governance according to best practices and standards; Operate banking activities on the principle of transparency, promoting responsibility and ethics in work. "Stable and sustainable growth through effective business operations; contributing economic value to the country, organizations, shareholders and customers. Positively impacting the environment through actions to conserve natural resources, mitigate climate change and green the economy. Contributing to the creation of a modern and civilized society through products and services of practical value and high customer experience as well as activities that contribute positively to the community and society", OCB General Director shared more about the bank's sustainable development strategy statement. The goal of sustainable development is not only to increase long-term economic value for the bank but also to protect the environment and create a better society. Therefore, OCB is constantly investing and developing to become a "Green" Bank with a vision, mission and specific goals to realize this ambition according to specific milestones, 2025 - pursuing the journey of sustainable business development, 2027 - pioneering bank in sustainable development and 2050 - accompanying the Government and Management Agency for the Net Zero goal. The bank's sustainable development strategy also provides clear programs and actions to achieve the goals according to the set roadmap. It is known that after publishing the independent sustainable development report, OCB will focus on promoting activities such as: Increasing the scale of green credit, saving resources, energy, reducing emissions, continuing to build a safe, efficient and happy working environment, accelerating the digitalization of operating processes and products and services, increasing information security and increasing credit for projects serving the community and society... Demonstrating a clear commitment in the journey of transforming "Green" Banking at OCB. Source: https://baochinhphu.vn/ocb-cong-bo-bao-cao-phat-trien-ben-vung-doc-lap-2023-102240922222411495.htm