OCB leaders pose for a commemorative photo with the first group of members of the Green Commercial Banking Alliance - Photo: VGP/PD
With this move, OCB has become one of the first three Vietnamese banks to join the Alliance. This is a significant milestone affirming OCB's commitment to prioritizing business growth with sustainable development goals, contributing to the Vietnamese Government's efforts to realize the Net Zero 2050 target while creating sustainable and stable value for the domestic and regional communities.
Joining the Alliance opens up many opportunities for OCB to access knowledge in green finance investment, advanced climate risk management tools, and learn from international experience from IFC – a member organization of the World Bank Group – and other members and partners of the Alliance. Through training programs and connections with a network of pioneering banks in the region, OCB will gradually improve its capacity to develop products and apply international standards in assessing and managing risks for green projects.
This is not only a step forward for OCB to expand its cooperation, but also facilitates increased access to sustainable global financial opportunities, creating a foundation for the bank's more sustainable long-term development.
OCB focuses on green credit aimed at sustainable development.
Mr. Andrew William James Life, Chief Risk Officer (CRO) representing OCB's leadership at the event, shared: "Joining the IFC's Green Commercial Banking Alliance is a strategic step in OCB's journey to becoming a leading green and digital bank in Vietnam. This partnership will further our efforts to integrate sustainable development into all aspects of our business operations, while supporting our customers in their equitable transition to a low-carbon economy."
Over the years, OCB has proactively expanded its green credit portfolio, prioritizing funding for projects in key sectors such as high-tech agriculture, green buildings, and renewable energy. This approach not only creates economic value for businesses and customers but also contributes to the national greenhouse gas emission reduction process.
Compared to other banks in the system, OCB distinguishes itself through digital innovation and a sustainable development orientation. With a strong focus on green finance, comprehensive support for small and medium-sized enterprises (SMEs), and a "digital-first" operating model, OCB is building a foundation for long-term growth that harmonizes economic, social, and environmental values.
Over the years, OCB has been prioritizing capital allocation to clean energy projects, high-tech agriculture, and SMEs - Photo: VGP/PD
In 2024, OCB signed a strategic cooperation agreement with IFC to receive advisory support on green banking transformation. In the initial phase of this partnership, IFC allocated approximately US$95 million to OCB to support lending activities that meet internationally recognized green credit standards. These preferential loans have been disbursed to businesses in sectors such as renewable energy, environmentally friendly high technology, and other sustainable industries.
By joining the Green Commercial Banking Alliance, OCB continues to affirm its role as a responsible commercial bank, accompanying the Government and the business community in realizing the Net Zero 2050 commitment, while spreading sustainable values to the market and society.
The Green Commercial Banking Alliance is a platform designed to accelerate green commercial banking in emerging markets. It is a global initiative designed and managed by the International Finance Corporation (IFC), a member of the World Bank Group. The initiative acts as a selective membership platform, connecting commercial banks in emerging markets with global financial institutions and key industry leaders to promote green banking in countries most in need through knowledge exchange, thought leadership, and community building.
PD
Source: https://baochinhphu.vn/ocb-gia-nhap-lien-minh-ngan-hang-thuong-mai-xanh-102250910165455593.htm
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