Việt Nam News

VPBank praised for sustainability

January 07, 2021 - 08:45

VPBank was named among the top 20 listed companies with the highest Việt Nam Sustainability Index (VNSI) in the market in the evaluation period in July 2020.

Transactions at VPBank. VPBank has been one of the first commercial banks building a special department for social and environmental risk management. — Photo courtesy ò the bank

HÀ NỘI — VPBank was named among the top 20 listed companies with the highest Việt Nam Sustainability Index (VNSI) in the market in the evaluation period in July 2020.

According to the ranking announced by Hồ Chí Minh Stock Exchange (HOSE), VPBank scored in all aspects of the environment, society and management higher than the average level of the banking sector and that of the VN100. Notably, this has been the second consecutive year VPBank achieved such results.

VNSI aims to promote responsible investment activities of listed companies and measuring investment efficiency in the stock market.

The assessment has reflected VPBank's efforts in recent years to contribute to the elimination of projects that have negative impacts on the environment and society and promote the transition to an eco-friendly economy, minimising ecological footprints and combating climate change.

A representative from VPBank said: “We believe that sustainable development is the responsibility of businesses to the community. VPBank is acutely aware of being responsible for the environmental, economic and social impacts it generates throughout the value chain. VPBank is committed to selecting customers to comply with environmental laws and social principles, giving priority to sponsoring businesses that make positive contributions to the environment and climate. Such practices aim to bring about sustainable operational efficiency, positively affect the bank's reputation and financial performance as well as emotional responses and customer behaviour."

VPBank has developed Environmental and Social Management System (ESMS) following Performance Standards issued by IFC and co-operating to develop green credit with the Loan Market Association (LMA) Asia Pacific Loan Market Association (APLMA). Its green credit was evaluated by Sustainalytics to suit with its overall sustainable development strategy and contributing to the Sustainable Development Goals (SDG) of the UNDP.

VPBank was one of the first commercial banks to build a special department for social and environmental risk management since 2016 and a division for green credit development in 2020. — VNS

Tags Vietnam Prosperity Bank VPBank

VN's food processing industry struggles to improve quality and value chain integration

Economy

Aviation stocks waiting for takeoff as businesses soar

Economy

Monetary policy forecast unlikely to loosen further

Economy

PM attends Dominican Republic-Việt Nam business dialogue in Santo Domingo

Economy

New decree on using telecommunications accounts for payment proposed

Economy

Việt Nam resolved to boost digital economy with national action plan

More on this story

Economy

Shares rise on strong injection of cash flow

Vietnamese shares nudged higher on Wednesday as investors poured cash flow into blue-chip stocks.

Economy

Hanwha Life Vietnam strives to offer comprehensive solutions

Hanwha Life Vietnam, a life insurance company from South Korea, has achieved impressive growth since it entered the Vietnamese market in 2009. Last year was filled with challenges caused by the Covid-19 pandemic, but business remained steady for Hanwha Life Vietnam, which managed to sustain growth. Its CEO, Im Dong Jun, speaks about his plans to accomplish the targets set for 2021.

Economy

Vietjet named one of the world’s top 10 safest and best low-cost airlines

Other carriers on the list are Ryanair, EasyJet, Frontier, Wizz and Westjet.

Economy

Việt Nam expects to hit its GDP goal in 2021 with stable economic development

Việt Nam's gross domestic product (GDP) was estimated to increase 2.91 per cent in 2020 due to the Government's economic management experience over the past years, a safe and healthy macroeconomic environment and stable politics. In 2021, the economic growth is expected to reach the target of 6 per cent set by the National Assembly, although the world economy is forecasted to continue the slowing trend due to challenges from the COVID-19 pandemic. The General Director of General Statistics Office Nguyễn Thị Hương spoke to the Vietnam News Agency reporter about this issue.

Economy

Disbursement of public investment at record since 2016, still misses Gov’t target

The disbursement of public investment was estimated at VNĐ398 trillion as of the end of December, meeting 82.8 per cent of the Government’s plan – the highest rate in 2016-20 period, according to the Ministry of Planning and Investment.

Economy

HDBank first in Việt Nam to offer letters of credit on blockchain

HDBank, the first Vietnamese bank to enter the global financial and commercial network, has pioneered the issuance, document presentation and successful payment of letters of credit on the blockchain platform.

Economy

Investment funds beat the market in 2020

2020 marked an unexpectedly successful year for big investment funds in Việt Nam, with Pyn Elite Fund having the best performance.

Economy

City's retail market grew by 11.9 per cent despite pandemic

The retail market grew by 6.8 per cent last year to $172.8 billion despite the debilitating economic effect of the COVID-19 outbreak, according to the General Statistics Office.

Economy

Fintech forecast to be robust this year, driven by the creation of regulatory sandbox

The regulatory sandbox for financial technology (fintech) which is expected to be created this year, coupled with efforts to promote the use of digital financial services, are expected to accelerate the development of fintech in Việt Nam.