Consultation Workshop on “UNEP FI-Principles for Responsible Banking”

01/04/2019 - 859 Views

Hanoi, 28th March 2019 - Today, the State Bank of Vietnam, the United Nations Environment Programme Finance Initiative (UNEP FI) and German Cooperation Development GIZ co-organise a Consultation Workshop on “UNEP FI-Principles for Responsible Banking”. The Consultation Workshop is held within the framework of the Macroeconomic Reforms/Green Growth Programme, implemented by GIZ Viet Nam on behalf of the German Federal Ministry of Economic Cooperation and Development (BMZ).

The UNEP FI Principles for Responsible Banking were established by 28 banks representing over USD 17 trillion in combined assets around the world. Any bank regardless of its starting point, context or size can decide to adopt the Principles. This set of Principles helps banks organize their own sustainability agenda, align their business with the objectives expressed in the Sustainable Development Goals and the Paris Climate Agreement. The Principles provide a guidance to integrate sustainability across all business areas of a bank at the strategic, portfolio and transactional levels. On 26th November 2018 at the UNEP FI Global Roundtable in Paris, the draft Principle was launched and entered a 6-month period of global public consultation before they will be signed by banks from around the world at the United Nations General Assembly in New York in September 2019. Vietnam is selected to be among the countries for in-depth consultation, which shows the appreciation by the international community for Vietnam’s progress, especially in the finance-banking sector given its initiatives in green finance-banking.

Participants in the Consultation Workshop are from the banking community of Vietnam, regulators and policy makers from the State Bank of Vietnam, as well as experts from international organisations. At the Workshop, participants are introduced to the draft Principles and shared by experts from regional banks on practical experience in their own sustainable journeys. They also have the opportunity to provide their feedbacks, comments on the draft, as well as to discuss how relevant the Principles are to their own banks.

Speaking at the Workshop, Associate Professor Nguyen Kim Anh, Deputy Governor of the State Bank of Vietnam expresses his confidence: “The results from this Consultation Workshop will be a significant contribution to UNEP FI’s global sustainable banking network in approving and applying the ‘Principles for Responsible Banking’ as well as to the Vietnamese banking system in implementing the country’s ‘Banking Development Strategy to 2025, with a vision toward 2030’ and the ‘Green Banking Scheme’, he said.

On his part, Dr. Michael Krakowski, Programme Director and Chief Technical Advisor of the Macroeconomic Reforms/Green Growth Programme said: “The development orientation of sustainable banking system in Vietnam is not only aligned with Vietnam’s priorities on Sustainable Development Goals, green growth and climate response; but also fits to the trend of Industry 4.0 and supports the Strategy on financial inclusion of Vietnam”. He also emphasises the commitment to further effective cooperation with the State Bank of Vietnam, and to stand hand-in-hand with Vietnam’s banking sector in this process to make significant contributions to the development of green and sustainable economy in Vietnam.

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