Conference on "Green Banking toward Sustainability"

07/08/2018 - 2134 Views

Hanoi, 7 August 2018 - Today, the State Bank of Vietnam (SBV) in cooperation with the Vietnam Banks Association (VNBA) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) jointly organize the conference "Green Banking toward Sustainability ". This conference is part of German-Vietnamese cooperation activities under the "Macroeconomic Reforms/Green Growth" Programme, implemented by GIZ in Vietnam on behalf of the Federal Ministry of Economic Cooperation and Development of Germany (BMZ).

In September 2015, heads of state and government at the UN Summit in New York adopted the 2030 Agenda for Sustainable Development comprising the Sustainable Development Goals (SDGs). The 2030 Agenda for Sustainable Development provides a path forward for national and international sustainable development policies by explicitly linking economic, social and environmental development goals and combining poverty alleviation and sustainability. In Vietnam, in response to the UN Sustainable Development Goals, the Prime Minister issued Decision No. 622/QĐ-TTg dated 10/05/2017 on promulgation of the National Action Plan to implement Agenda 2030.

With its position as the most important funding channel for the economy, the banking system in Vietnam plays a vital role in transforming the national economy toward a development model which is characterised by green growth, low-carbon and sustainability. With this theme, the conference is an opportunity for experts from the Ministry of Planning and Investment, the State Bank of Vietnam, other line ministries, agencies and credit institutions and experts from related international organizations to discuss and share experiences of green and sustainable banking practices in the region, as well as in the international banking community, with special focus on banks’ responses to climate change and to requirements of supporting SDGs.  In the conference, the United Nations Environment Programme Finance Initiative (UNEPFI) together with the VNBA introduce the Guide to Sustainable Banking, which is translated into Vietnamese by the VNBA. This hands-on, practitioner – oriented book would help readers to formulate their understanding about a sustainable bank, and to define a suitable approach for their banks to be sustainable.

Opening the conference, Mr Nguyen Kim Anh, Deputy Governor of the State Bank of Vietnam highlighted the “decisive role of the banking sector in economic transformation through channelling funding sources to support sustainable development goals, and applying more rigorous  environmental and social risks management principles in credit activities“.  In this, it is important for Vietnamese banks to clearly identify key pillars for sustainable development and an approach to green and sustainable banking  which is suitable to the local context.

Dr. Michael Krakowski, Director cum Chief Technical Advisor of the Macroeconomic Reforms/ Green Growth Programme shares that “efforts and achievements of Vietnam toward green growth have been recognized internationally“ and commits to “further cooperation with State Bank of Vietnam in this process to contribute to successful implementation of the national strategies on green economy, climate change response and sustainable development”./.

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