Sustainable development and AI – inevitable trends of modern banking

Deputy Governor of the State Bank Pham Thanh Ha speaks at the seminar - Photo: VGP/HT

AI is the "key" to solving bottlenecks

At the seminar "Practicing Sustainable Development Reporting in the banking sector with AI solutions" jointly organized by the State Bank and Banking Times on May 21, in Hanoi , Deputy Governor of the State Bank Pham Thanh Ha affirmed: "Sustainable development is no longer a trend but an inevitable requirement."

The Party and State have issued many major policies, especially Resolution No. 57-NQ/TW on science , technology, innovation and national digital transformation development, along with Resolution No. 66-NQ/TW on sustainable development to 2030, with a vision to 2050.

In the process of implementing these Resolutions, the Banking sector is identified as one of the leading forces in promoting sustainable finance, digital transformation and innovation.

Deputy Governor Pham Thanh Ha emphasized the central role of the banking industry in shaping a green, inclusive and responsible economy . Therefore, the development and publication of sustainability reports is indispensable if we want to clearly demonstrate ESG commitments.

To implement this policy, the SBV has issued many specific policies such as Decision 1731/QD-NHNN on the 2030 agenda and Decision 1408/QD-NHNN on implementing the national strategy on green growth. Accordingly, commercial banks are tasked with integrating ESG criteria into their business strategies, while encouraging the publication of independent sustainability reports.

In 2024, the number of organizations preparing separate reports reached a record 33, a sharp increase compared to previous years. By early 2025, about 13-15 commercial banks had published independent sustainability reports, along with 6 new banks joining this trend. Notably, green credit also achieved significant growth, with 58 credit institutions having green outstanding loans of over VND 704,000 billion - equivalent to 4.3% of the total outstanding loans of the whole system, mainly focusing on renewable energy and green agriculture.

However, Deputy Governor Pham Thanh Ha also frankly pointed out the challenges: The legal framework is not complete, the capacity to collect and analyze data is still weak, not to mention the lack of human resources who understand both ESG and technology, making the implementation process difficult. This is when AI is considered the "key" to solving current bottlenecks.

With the ability to automate data collection, trend analysis, risk assessment and intelligent reporting, AI promises to revolutionize sustainability reporting.

"We expect AI to be not just a technological tool, but a strategic solution to make operations transparent, increase trust and improve the quality of sustainable development reporting," Deputy Governor Pham Thanh Ha emphasized.

Mr. Mike Suffield - Director of Policy and Advanced Research of ACCA Global - Photo: VGP/HT

Ethics, Data and Artificial Intelligence: Perspectives from International Experts

One of the important highlights at the Seminar was the speech of Mr. Mike Suffield - Director of Policy and In-depth Research of ACCA Global. Mr. Mike Suffield said: AI and sustainable development are no longer two separate concepts, but are merging into a strategic axis of the financial industry.

Mr. Mike Suffield introduced a model of the stages of sustainable development information production, from establishing context, identifying key information, to verification and improvement, each step can apply AI. In particular, technologies such as machine learning, natural language processing, computer vision and generative AI are effectively supporting the reporting process, from analyzing climate risks to customizing reports for different target groups.

However, Mr. Mike Suffield also warned of potential risks. First, if incomplete or biased data is used in training AI, the system can generate false information, leading to inaccurate financial decisions. Second, the uncontrolled use of AI can lead to "greenwashing" - painting a false image of sustainability.

ACCA has set out five ethical principles for using AI in reporting: Integrity, Objectivity, Competence, Confidentiality and Professionalism. According to Mr. Mike Suffield: AI cannot replace professional ethics. Reporters need to understand how AI works, check the output and ensure transparency in every line of information."

Additionally, Mr. Mike Suffield also raised a less-noticed issue, the "environmental footprint" of AI.

Delegates and experts discuss at the seminar - Photo: VGP/HT

According to research, modern AI queries consume 10 times more electricity than regular Google queries. If this trend continues, by 2030, global data centers could account for 4% of total electricity demand, resulting in greenhouse gas emissions doubling compared to 2022. In addition, the amount of water used to cool modern AI systems is also alarming.

Therefore, Mr. Mike Suffield emphasized: AI investment should not be based solely on financial efficiency, but also on environmental costs. CFOs should consider more energy-efficient models and integrate emissions management strategies into the technology selection process.

Concluding the presentation, Mr. Mike Suffield introduced ACCA's free online courses on AI and sustainability – to support the global accounting and finance community in the current period of dual transformation.

Mr. Minh

Source: https://baochinhphu.vn/phat-trien-ben-vung-va-ai-xu-huong-tat-yeu-cua-ngan-hang-hien-dai-102250521120425836.htm