Case Studies of 10 Vietnamese Commercial Banks
Fair Finance Vietnam assessed and analyzed the alignment of publicly disclosed policies by ten Vietnamese commercial banks with international ESG criteria. This assessment has been undertaken using the Fair Finance Guide International (FFGI) Methodology developed by Fair Finance International together with Profundo. This first assessment undertaken by Fair Finance Vietnam highlights that the assessed commercial banks are at a very nascent stage concerning ESG policy commitments. In other words, in the “race to the top“, these ten banks have just entered the race.
Based on the scores, recommendations have been made to commercial banks and banking regulators to nudge them towards ensuring their ESG commitments align with international conventions and standards, such as the United Nations Guiding Principles on Business and Human Rights (UNGPs). The scoring through the policy assessments and the emerging recommendations will help in guiding Vietnamese commercial banks to fulfil their environmental and social responsibilities, enhance their position in the ASEAN and global markets, and attract responsible investors.
Fair Finance Vietnam (FFV) is the creation of the collective efforts of several civil society organizations, including the Center for Water Conservation and Development (WARECOD), the Center for Education and Empowerment of Women (CEPEW), and Oxfam in Vietnam. They are currently active in the field of environmental protection and community development for sustainable development.
For more information, please contact:
Hoang Thu Trang, Programme Officer, Oxfam in Vietnam