Techcombank proactive with ESG and sustainability
Techcombank proactive with ESG and sustainability
Thai Minh Diem Tu, chief marketing officer of Techcombank, scrutinises Techcombank’s environmental, social, and governance (ESG) journey, focusing on how the bank integrates mass participation sport into its wider ESG approach and supports Vietnam’s sustainability goals.
How important is ESG in Vietnam and specifically to Techcombank?
Techcombank was founded 31 years ago with charter capital of only VND20 billion (now more than $830,000) and has since grown to become one of the leading private banks in Vietnam.
Thai Minh Diem Tu, chief marketing officer of Techcombank (middle). Photo: Techcombank |
Throughout the bank’s journey, we have tried to be an enabler of the country’s economic growth and development and to achieve success together with the Vietnamese people. Our goal is reflected in Techcombank’s brand promise to always ‘Be Greater’.
The Vietnamese people have a strong aspirational spirit, which means we are constantly striving to be greater and to achieve success on our own terms. This spirit has seen Vietnam’s GDP grow over the last 30 years from around $13 billion to $430 billion, as millions of Vietnamese achieved success.
Techcombank is proud to have been a partner to Vietnam’s growth over the past 30 years, providing financial products and services that have helped to empower the Vietnamese people.
As Vietnam’s economy has grown and people have become wealthier, sustainability has become increasingly important and the term ESG has gained prominence.
Today, Techcombank is committed to taking a lead on ESG and is embedding ESG factors into the heart of our business strategy and operations. We recognise that for Techcombank to continue to grow and succeed for another 30 years we must do so sustainably and help to protect the nation’s environment and make a positive contribution to society. We have begun our long-term ESG journey with the aim to be a pioneer of sustainability in Vietnam’s banking industry.
Techcombank is the strategic partner for the HCMC International Marathon, can you elaborate on why the bank supports this event?
The seventh Techcombank Ho Chi Minh City (HCMC) International Marathon was held from December 6-8 and was the best yet. Techcombank has been the strategic partner for the marathon for the past seven years because it is a fantastic event that enables the bank to uplift Vietnam and the community in Ho Chi Minh City.
Through our support for the marathon, we are helping to showcase Vietnam’s vibrancy to the world, provide an economic boost to the city, and give something back to the community through mass participation in the event and by promoting healthy lifestyles.
How does Techcombank integrate mass participation sport into its wider ESG approach?
Techcombank’s strategic partnership with the Ho Chi Minh City International Marathon is part of our wider ‘Run for a Greater Vietnam’ initiative that also includes support for the Hanoi marathon.
We recognise the positive impact mass participation sporting events can have in terms of engaging with the community, uplifting the economy, and linking Techcombank’s brand with achievement and the aspirational spirit of Vietnamese people.
Our support for the HCMC and Hanoi marathons is a key element of Techcombank’s ESG approach and particularly to the “S” – making a positive social contribution.
In 2024, the Hanoi marathon and HCMC marathons together attracted close to 30,000 runners. When the Techcombank HCMC marathon began seven years ago, it had only around 2,000 runners.
By partnering with local governments, we’ve turned these events into powerful experiences that inspire thousands to embrace active lifestyles and push beyond their limits. This phenomenal growth shows the power of mass participation sport to connect with people and to foster a spirit of community and social engagement.
What specific steps has Techcombank taken to integrate sustainability into the HCMC Marathon?
When Techcombank considers our support for mass participation sporting events like the HCMC Marathon, we look at maximising the positive impacts in relation to seven sustainability pillars: Partnership; Particiption; People; Planet; Power; Profile, and Prosperity. These are pillars defined by the organisation Global Sustainable Sport (GSS).
We believe our support for the Hanoi and HCMC marathons delivers significant positive sustainability outcomes across five of these seven pillars. Our support helps to foster partnerships with local governments and with community organisations, it encourages mass participation by the community, it delivers positive social impact by promoting physical fitness and healthy lifestyles, it uplifts the economy through tourism, and it helps to profile Techcombank’s brand and connect it with all aspirational Vietnamese.
How does Techcombank plan to develop its involvement in the HCMC Marathon and similar events to deepen its ESG impact?
I joined Techcombank in 2020 as CMO, and since then, the marathon has grown and changed so much and has become a truly spectacular and inspiring event.
HCMC should be hugely proud of the event which helps to showcase the city, the community, and all of Vietnam to the world. But we don’t want to stop here. Techcombank’s aim is to create one official city marathon that can become a truly world-class sporting event, comparable to the marathon in Singapore and even to major global events.
An official HCMC marathon, supported by Techcombank, would help to put the city on the global map and attract visitors from around the world, further boosting the economy and tourism industry.
Beyond Techcombank’s support for mass participation sport, what else is the bank doing to advance its ESG priorities and support Vietnam’s sustainability goals?
ESG and sustainability is now a key pillar of Techcombank’s transformation strategy and more important to the management team than ever before. As a leading Vietnamese bank, we want to be a partner to the country’s progress through sustainable growth and development.
There are two main areas where we can effectively deliver positive environmental impacts.
First is in the provision of debt financing for green projects. In 2023, Techcombank provided more green financing than ever before, and our funding for green projects in Vietnam has now reached over $5 billion.
Techcombank also just became the first private bank in Vietnam to introduce a Green Bond Framework to ensure that proceeds raised from the issuance of green bonds are used by Techcombank to finance projects that provide real environmental benefits to Vietnam.
Second, Techcombank is introducing policies to be more energy efficient in our operations and supporting our individual and business customers to be more sustainable in the way they live and operate.
We are also taking the lead in helping our customers be green and live more sustainably. For example, in 2024 we became the first bank in Vietnam to launch a Visa EcoCard. This EcoCard enables our retail customers to live greener lifestyles by helping them track carbon emission against their spending, easily offsetting their carbon footprint, and providing eco-friendly privileges like subscriptions to an EV taxi company.
