Illustrative image (Source: VNA) Hanoi (VNA) – Deputy Governor of the State Bank ofVietnam (SBV) Nguyen Kim Anh has underscored the decisive role of bankingsector in economic shifting via targeting capital flows into sustainabledevelopment goals.
During a seminar co-hosted by the SBV and German Agency forInternational Cooperation (GIZ) in Hanoi on August 7, Anh urged banks to adoptsocial and environment risk management principles when it comes to credit supply.
Pham Xuan Hoe from the SBV’s Banking Strategy Institute saidclimate change, environment pollution and CO2 emission force banks to raisetheir sense of responsibility for the society.
According to the GIZ, Vietnam needs at least 30.7 billionUSD till 2020, or 15 percent of its gross domestic product in 2015, to fund itsgreen growth strategy.
It forecast that the country could reduce 85.12 milliontonnes of CO2 by 2020 and 197.9 million tonnes by 2030, or 25 percent of thetotal.
Head of the Department of Science, Education, NaturalResources and Environment Pham Hoang Mai suggested that the SBV issue frameworkpolicies on green finance, encourage banks to provide preferential loans forgreen projects, and regularly rally international green finance schemes.
He underscored the need to establish a green financial fundto access global funding such as the Green Climate Fund, adding that financialinstitutions should enforce internal policies on green banking and credit, aswell as risk governance policies while supporting the issuance of green bondsand attracting domestic and foreign investment in green projects.
Michael Krakowski, Director of the MacroeconomicReform/Green Growth Programme, hailed Vietnam’s efforts and achievements in theprocess towards green growth.
He pledged to continue partnering with the SBV to contributeto successfully realising national strategies on green economy, climate changeresponse and sustainable development.-VNA
During a seminar co-hosted by the SBV and German Agency forInternational Cooperation (GIZ) in Hanoi on August 7, Anh urged banks to adoptsocial and environment risk management principles when it comes to credit supply.
Pham Xuan Hoe from the SBV’s Banking Strategy Institute saidclimate change, environment pollution and CO2 emission force banks to raisetheir sense of responsibility for the society.
According to the GIZ, Vietnam needs at least 30.7 billionUSD till 2020, or 15 percent of its gross domestic product in 2015, to fund itsgreen growth strategy.
It forecast that the country could reduce 85.12 milliontonnes of CO2 by 2020 and 197.9 million tonnes by 2030, or 25 percent of thetotal.
Head of the Department of Science, Education, NaturalResources and Environment Pham Hoang Mai suggested that the SBV issue frameworkpolicies on green finance, encourage banks to provide preferential loans forgreen projects, and regularly rally international green finance schemes.
He underscored the need to establish a green financial fundto access global funding such as the Green Climate Fund, adding that financialinstitutions should enforce internal policies on green banking and credit, aswell as risk governance policies while supporting the issuance of green bondsand attracting domestic and foreign investment in green projects.
Michael Krakowski, Director of the MacroeconomicReform/Green Growth Programme, hailed Vietnam’s efforts and achievements in theprocess towards green growth.
He pledged to continue partnering with the SBV to contributeto successfully realising national strategies on green economy, climate changeresponse and sustainable development.-VNA
VNA
