With the goal of becoming a pioneering green bank in Vietnam and consistently pursuing a sustainable development strategy from an early stage, Orient Commercial Bank (OCB ) has received high praise and recognition from many prestigious organizations. Recently, OCB was again honored in the Top 100 Sustainable Enterprises in Vietnam (CSI 100) in 2024.
The Vietnam Sustainable Business Assessment Program 2024 (CSI 2024) aims to recognize businesses that excel in sustainable production and business practices across a comprehensive range of aspects: economic efficiency, corporate governance, social responsibility, and environmental protection. This year, nearly 500 businesses registered and submitted applications, from which the organizing committee initially shortlisted and selected 142 for final evaluation. Having met numerous stringent evaluation criteria, OCB was honored to be among the Top 100 Sustainable Businesses in Vietnam.
OCB was honored among the top 100 sustainable businesses in Vietnam in 2024.
This is the 9th year the program has been implemented by VCCI under the direction of the Government, in coordination with the Central Economic Committee, the Ministry of Natural Resources and Environment , the Ministry of Labour, Invalids and Social Affairs, and the Vietnam General Confederation of Labour. The evaluation and assessment process is organized rigorously and scientifically in three main stages: preliminary scoring of dossiers based on the CSI index; assessment through relevant agencies; and approval of proposals from the evaluation council by the steering committee. The 2024 CSI index is structured into six parts, comprising 153 indicators. Of these, 62% are compliance indicators, and 38% are advanced indicators, aiming to evaluate businesses comprehensively across various aspects: economic efficiency, corporate governance, social responsibility, and environmental responsibility. Each indicator is used to declare a specific content area. Each year, the CSI index will be updated to reflect important legal changes that Vietnamese businesses need to be aware of, or new trends from the international community.
Standing out among credit institutions, OCB has implemented a sustainable development strategy aimed at becoming a pioneering Green Bank in Vietnam for many years. With stable and efficient operations, OCB continuously receives funding packages from various international financial institutions such as IFC and DEG… to support small and medium-sized enterprises, women-owned businesses, and prioritize environmentally friendly sectors.
By 2024, OCB had made tremendous strides in its sustainable development activities. Specifically, in April 2024, it signed a strategic cooperation agreement with IFC on consulting for green banking transformation and digital banking services for retail and SME businesses. By September 2024, it pioneered the publication of an independent sustainable development report. In addition, it achieved a series of concrete results in implementing items related to the three pillars of environment, social responsibility, and governance.
"As a bank operating on the values of transparency, stability, and sustainability, besides boosting business, we also place special emphasis on implementing a sustainable strategy that not only increases economic value but also protects the environment and creates a better society. With thorough and systematic preparation over many years, along with decisive actions aimed at building a pioneering Green bank in Vietnam, today we are honored to continue to be recognized among the top Vietnamese businesses in sustainable development. This is a source of pride and also a testament to the bank's efforts in its operations, affirming its effectiveness, safety, and transparency over the past period." Mr. Nguyen Ba Ngoc, Director of Large Corporate Banking & Investment Banking Services at OCB, shared at the event.
Notably, OCB was also the only bank in the system to receive the 2024 Sustainable Development Report award at the Listed Enterprises Conference. OCB was highly praised for its reporting and information disclosure, not only for implementing regulations and good practices in governance and ESG but also for promoting the company towards advanced and transparent governance standards.
In the coming period, OCB will continue to promote and develop digital products; build criteria for green businesses, support and advise businesses and customers to meet the requirements to receive preferential capital financing packages; diversify products and optimize customer experience. In particular, it will explore and provide modern financial products for the customer ecosystem, thereby increasing the scale of green credit, saving resources and energy, reducing emissions, and building a safe and happy working environment… demonstrating the bank's strong commitment to the greening journey and accompanying the Government towards the Net Zero goal by 2050.
Source: https://thanhnien.vn/ocb-lot-top-cac-doanh-nghiep-ben-vung-nam-2024-185241201190635321.htm
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