BIDV makes its mark in the green financial market

(Chinhphu.vn) - The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is the first commercial bank in Vietnam to be granted direct access to preferential capital by the Green Climate Fund (GCF) to implement domestic climate finance projects, contributing to the implementation of national green growth and sustainable development goals.

On October 28, the Joint Stock Commercial Bank for Investment and Development of Vietnam ( BIDV ) was officially recognized by the Green Climate Fund (GCF) as an Accredited Entity, becoming the first commercial bank in Vietnam to be granted direct access to preferential capital by GCF to implement domestic climate finance projects, contributing to the implementation of the national green growth and sustainable development goals.

BIDV becomes the first Vietnamese commercial bank to be recognized by the Green Climate Fund.

Milestone affirming capacity and reputation in the international arena

BIDV began submitting its application to become a GCF Accredited Organization in 2023. Over the past two years, the bank has completed its capacity-proving documents and participated in many bilateral working programs and important international forums such as the GCF Asia- Pacific Regional Dialogue (2023), COP28 in Dubai (2023) and the P4G Summit in Hanoi (2024).

On that basis, GCF conducted an in-depth assessment of BIDV's governance capacity, risk control, sustainable financial management and commitment to climate finance.

At the 43rd Meeting of the Green Climate Fund Council, GCF officially recognized BIDV as a recognized organization of the Fund - a milestone affirming BIDV's capacity and reputation in the international arena.

Key partner in promoting climate finance in Vietnam

Commenting on the event, Ms. Achala Abeysinghe, Head of Investment Services at GCF, said: “We are delighted to welcome the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) as an Accredited Institution of the Green Climate Fund (GCF). This new partnership reinforces GCF’s commitment to working with leading national banks and opens up opportunities to expand access to climate finance in Vietnam.”

According to Mr. Le Ngoc Lam, General Director of BIDV, being recognized by GCF is an important turning point in the bank's journey of sustainable development:

"As a GCF accredited institution, BIDV will have more preferential capital to finance renewable energy projects, increase climate resilience, encourage green innovation in Vietnam, promote just transition in industries and contribute to improving the lives of vulnerable communities."

A turning point in the development strategy "Big - Strong - Green"

Three strategic pillars in development orientation

BIDV identifies green growth as one of the three strategic pillars in its development orientation "Big - Strong - Green". The bank is synchronously implementing green transformation solutions in three aspects:

Mainly mobilize and supply green capital to serve economic transformation projects;

Internal greening, energy saving, emission reduction;

Encourage customers and partners to go green together.

By mobilizing preferential green capital from GCF, BIDV can provide loans with good interest rates for projects to reduce emissions and adapt to climate change. This is a promising start, opening a new era for BIDV in implementing sustainable finance and replicating ESG practices according to international standards, actively contributing to the implementation of the tasks and goals of green growth and sustainable development of the country.

BIDV's efforts to implement sustainable finance have initially achieved remarkable results. As of September 30, 2025, BIDV's Green credit balance reached more than VND 81,000 billion, financing 1,623 customers and 2,143 projects/business plans, accounting for 3.7% of BIDV's total outstanding loans.

This result not only reflects BIDV's strong commitment to sustainable finance, but also makes its mark on the market with an increasingly rich and effective ecosystem of sustainable financial products. With the leading green credit market share in Vietnam, BIDV has enough potential to effectively support the implementation of GCF's mission and climate goals in Vietnam.

The Green Climate Fund (GCF) is the world's largest climate finance fund established under the Paris Agreement, tasked with supporting developing countries to mobilize and realize their Nationally Determined Contributions (NDCs), towards a low-emission and climate-resilient development model. To date, the Fund has received a total commitment of 30 billion USD from 51 member countries, of which Vietnam pledged 1 million USD at the COP21 Conference in 2015 and will make its contribution in 2020.

GCF implements its activities through cooperation with a diverse network of accredited Organizations, including government agencies, multilateral financial organizations and Institutions such as World Bank, IFC, UNDP, ADB, EIB, AFD… and banks such as HSBC, Deutsche Bank, KDB, MUFG, SMBC…

Mai Chi

Source: https://baochinhphu.vn/bidv-ghi-dau-tren-thi-truong-tai-chinh-xanh-102251031101923762.htm