Techcombank becomes the first private bank in Việt Nam to launch green bond framework
Techcombank becomes the first private bank in Việt Nam to launch green bond framework
Techcombank, one of the leading banks in Việt Nam, will launch a green bond framework, marking a pioneering milestone as the first private bank in Việt Nam to take this significant step toward sustainability.
Techcombank marks a pioneering milestone as the first private bank in Việt Nam to take this significant step toward sustainability. Photo courtesy of the bank |
The framework aligns with the International Capital Market Association’s (ICMA) Green Bond Principles (GBP) reinforcing Techcombank’s commitment to fostering sustainable development and supporting Việt Nam’s transition to a greener economy.
CEO of Techcombank, Jens Lottner, said: “We are immensely proud to be the first private bank in Việt Nam to publish a green bond framework aligning with the GBP by ICMA. This initiative is a testament to our unwavering commitment to promoting sustainable finance while contributing to a greener future for Việt Nam”.
Techcombank’s green framework has been developed with support and technical advisory from The Global Green Growth Institute (GGGI). The Green Bond Framework is a guiding document which ensures that the proceeds raised from the issuance of green bonds will be used by Techcombank to finance projects that provide actual environmental benefits to Việt Nam.
The framework has been independently reviewed by S&P Global, one of the leading rating agencies, which has assessed Techcombank’s green bond framework as 'Medium Green', the second-highest designation in their 'Shades of Green' rating system. This underscores the credibility, environmental benefits and alignment of Techcombank’s green initiatives with global standards. The eligible green activities under Techcombank's bond framework have been assessed by S&P as: “Contributing to address some of the most acute environmental issues facing the country.”
Techcombank’s leadership in launching this green bond affirms its commitment and signals a broader movement toward sustainable financing in the country. By mobilising capital for green projects, Techcombank aims to play a pivotal role in advancing Việt Nam’s environmental goals, while enhancing investor confidence in the burgeoning green finance market.
