Techcombank commits to supporting the goal of net-zero by 2050

Vietnam - one of the fastest growing economies in the world and also the 17th largest CO₂ emitter globally, is making a commitment to fast, green and sustainable economic growth, aiming for net-zero emissions by 2050.

On this journey, Techcombank is proud to be a pioneering private bank in Vietnam, with many specific initiatives and contributions, including joining hands with the Gaia Nature Conservation Center (Gaia) to "plant and restore forests", responding to the 1 billion trees project for the period 2021-2025.

Mr. Prasenjit Chakravarti - Director of Strategy and Banking Transformation at the event. Photo: Techcombank

As a private bank that is always a pioneer with the mission of "Transforming the financial industry, enhancing the value of life", in recent years, Techcombank has stepped up its commitment to implementing green credit projects. As of 2023, the bank has disbursed VND 13.9 trillion to finance projects in the fields of sustainable transport, green agriculture, renewable energy and many other fields. Aiming for the net-zero goal by 2050, in December 2024, Techcombank and Gaia planted nearly 12,000 trees at Phong Dien Nature Reserve (Thua Thien Hue province). This project not only helps restore upstream forests, protect biodiversity but also contributes to minimizing damage caused by natural disasters, balancing emissions and responding to climate change. In parallel, Techcombank has organized many seminars and internal engagement programs, contributing to raising awareness among employees about carbon footprint and encouraging actions to raise awareness of environmental protection. Notably, the "Dong Trao" event was held in the three regions of North-Central-South at the end of November 2024, attracting more than 9,000 employees to attend.

Techcombank and Gaia in the project "Afforestation and Forest Restoration". Photo: Techcombank

According to the World Bank, with emissions of up to 344 million tons of CO₂ in 2022, Vietnam is among the top 20 countries with the highest emissions in the world. PwC's Netzero Economy Index report also shows that Asia-Pacific economies emit up to 48% of global emissions. This reflects the strong growth of Vietnam's economy, while also posing a challenge in minimizing negative impacts on the environment, towards the goal of net zero emissions by 2050. Afforestation and promoting green lifestyles are two of the practical solutions to effectively and sustainably reduce carbon footprints. Recently, the bank has launched the Techcombank Visa Eco payment card product - a tool that helps users measure their carbon footprint through card payment transactions and proactively contribute to projects that help balance carbon. This is considered a breakthrough in raising community awareness and creating opportunities for customers to participate in environmental protection projects. This initiative has made Techcombank the first bank in Vietnam to be honored in the Sustainable Product Design – Vietnam category of the prestigious ESGBusiness Awards 2024, honoring businesses that have made important contributions to building a sustainable future and demonstrated a strong commitment to ESG activities.

Techcombank "Planting and restoring forests" with nearly 12 thousand trees in Phong Dien. Photo: Techcombank

Representative of Techcombank, Mr. Prasenjit Chakravarti - Director of Strategy & Banking Transformation, shared: "At Techcombank, ESG is integrated into the Bank's strategy and operations. In the organization's ESG journey, the environmental factor is always of concern to Techcombank and is one of the top priorities. The Bank has built an environmental and social management system (ESMS) linked to business decisions and risk management in credit granting activities. In addition, the Bank's digital transformation process has improved productivity and contributed to minimizing environmental impacts. Afforestation is an activity in the Bank's Organizational Culture project chain, contributing to the goal of zero net emissions, creating a long-term sustainable value platform for the community. At the same time, this meaningful activity also helps to motivate Techcombank's staff, contributing to building a sustainable and socially responsible corporate culture. Ms. Do Thi Thanh Huyen - Founder and Director of Gaia Nature Conservation Center said: "Reducing carbon footprint is a key factor to achieve the Netzero target of 0 by 2025. This requires not only the efforts of businesses, but also the cooperation from the community and the awareness of each citizen. We appreciate Techcombank's support in afforestation projects and raising public awareness in the journey of greening the economy, bringing practical impacts to the environment and society". In the coming time, Techcombank and Gaia will continue to promote the program "Contribute a tree to contribute a forest" with the goal of restoring upstream forests across Vietnam in Xuan Lien Nature Reserve, Phong Dien Nature Reserve, Ta Kou Nature Reserve, Dong Nai Nature and Culture Reserve... The forests will continue to be cared for and monitored by Gaia within 4 years to ensure a survival rate of 70-85%. At the same time, priority is given to the conservation of wildlife and nature in Vietnam. Source: https://thanhnien.vn/techcombank-cam-ket-dong-hanh-vi-muc-tieu-net-zero-vao-nam-2050-185241212154639089.htm