SHB hailed as “Best bank for sustainable finance” for 2 years in a row - Ngân hàng SHB
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SHB hailed as “Best bank for sustainable finance” for 2 years in a row

24-04-2024

For the second time in a row, SHB is the sole representative in Asia-Pacific honored by Global Finance as the “Best Bank for Sustainable Finance in 2024”. Green credit at SHB 2023 grew impressively compared to 2022, thereby affirming its position as one of the most active private joint stock commercial banks in green loans in Vietnam.

2024 is the second year in a row that Global Finance magazine has selected SHB as country winner for the Sustainable Finance Awards. The Bank is also the sole representative in Asia – Pacific region for the category of Best bank for sustainable finance.

In addition to policies, management goals and measurable achievements in sustainable financing activities, Global Finance highly appreciates SHB in CSR projects, notably the program “Support to mitigate the impact of COVID-19 for women-owned businesses” funded by ADB. By the end of 2022, SHB is leading among the 5 banks participating in the project with a total amount of non-refundable aid from ADB up to USD 1.7 million to directly support customers.

The Bank was also selected as the Bank with “Biggest ESG Impact in Vietnam 2023” by Asiamoney magazine and FinanceAsia magazine for its positive impacts on areas of environment, society and governance. At the Green Economy Forum for a Sustainable Development Nation organized by Vietnam Environmental Association, Vietnam Energy Association also named SHB among the Top 10 green and sustainable enterprises, and Top 10 most efficient banks in arranging investment capital for Vietnam’s energy projects in the period 2017-2021…

Promoting green capital flows, SHB accompanies the country’s sustainable development

As an important financial supply channel of the economy, the banking system in general and SHB in particular always determine their roles and responsibilities in “greening” capital flows for the goal of sustainable development, and actively coordinate with the Government towards the goal of responding to climate change.

Positioned as a top 4 private joint stock commercial bank, always accompanying the country in its sustainable development journey, in recent times, SHB has focused on promoting finance in the fields of agriculture, forestry, food processing, production, especially investing in green energy, renewable energy, and infrastructure development projects, building a circular economy for key regions across the country.

“For 2 years in a row, surpassing 13 countries and territories in Asia-Pacific to win the “Best Bank for Sustainable Finance” Award, SHB has affirmed the right direction in complying with IFC and State Bank’s on promoting green credit and applying environmental risk management measures in credit extension activities, base on which to develop regulations on social and environmental risk management in credit granting activities at the bank”, SHB representative shared.

SHB applies a set of social and environmental risk assessment tools with many stringent criteria issued by the State Bank and IFC. Accordingly, funded projects should meet strict conditions according to domestic and international standards on environmental protection, energy and resource saving. Not only providing capital support, SHB also accompanies project owners through technical safety consulting, capacity building, etc. contributing to helping customers meet the requirements of international organizations, providing carbon financing programs, training programs, and loan guarantees.

“We set a 10% target for green credit at SHB in the next 5 years out  of the bank’s total outstanding loans. This is a quite challenging target, yet affirms SHB’s sustainable commitment to a long-term, stable development strategy, responding to national policies, along with the Prime Minister’s commitment at the COP26 conference, bringing net emissions to “zero” by 2050″, SHB representative emphasized.

Realizing the vitality of sustainable development, SHB has cooperated with international partners such as WB, IFC, ADB… for a decade now and continuously sought for optimal medium and long-term capital sources, and at the same time provided advice on safety and techniques to support customers and the Bank in effectively financing projects.

In addition, SHB promotes capital flows into projects that accompany the national strategy, such as: sustainable agriculture projects, clean energy, key projects, logistics projects… Certain projects have been completed and highly appreciated by green economy expert, among which the Hanh Phuc rice factory – the largest investment project in Asia in An Giang, inaugurated in January 2022 is one of the most outstandings.

The factory was completed thanks to the VND 1,000 billion funding from SHB to gradually stabilize food security and increase the value of Vietnam’s agricultural exports. The factory totally applies European technological solutions in operation, processes rice according to international standards, meets the world’s stringent requirements on food safety, environmentally friendly, and contributes to enhancing the value of Vietnamese rice. The factory’s fresh rice drying capacity reaches 4,800 tons/day, milling and processing capacity is about 1,600 tons/day, total finished rice capacity reaches 1,000 tons/day.

Green energy projects are always among SHB’s priorities. Yang Trung Wind Power Plant, is one of the largest wind power clusters located in Gia Lai, with a total generating capacity of up to 145 MW, contributing nearly 1 million MWh to the national power network each year. With 36 wind turbines, the factory recorded a total expected investment of VND 6,246 billion, of which the majority of funding was from SHB.

In the Central Highlands, SHB also disbursed more than VND 584 billion, equivalent to 70% of the total investment capital of the Dak Sin 1 Hydropower Plant construction project. In the Northern and North Central regions, SHB also poured capital into Nam Luc Hydropower Plant (Lao Cai), Bai Thuong Hydropower Project (Thanh Hoa).

Besides agricultural and clean energy projects, SHB has also actively invested in key national projects and logistics projects. In 2013, the Bank sponsored VND 6,200 billion for key national transportation and infrastructure projects such as the three-story overpass at Hue – Da Nang intersection; National Highway 1 expansion project through Thua Thien Hue and Khanh Hoa,…

Logistics and seaport transportation are determined as the country’s key economic driver. Aiming to complete 6 goals in the “Action plan to improve competitiveness and develop Vietnam logistics services by 2025” set by the Government, SHB finances ICD Vinh Phuc Logistics Center – the opening project of the ASEAN Smart Logistics Network (ASLN), jointly implemented by Vietnam and Singapore under the promotion the two Prime ministers. The project has a scale of 83 hectares, investment capital totaled over USD 200 million, design capacity of customs clearance of about 530,000 TEU/year.

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