The State Bank of Vietnam, co-hosting a workshop on “unlocking green credit flows”, framed green credit and ESG implementation as central to Vietnam’s green transition and set out both progress and outstanding policy gaps. Senior Deputy Governor Dao Minh Tu highlighted that banks and firms still face practical constraints, including the absence of a national green classification list and a common ESG framework for corporate implementation. The central bank pointed to measures already taken, including credit policy direction towards priority and green growth drivers, a banking-sector action plan to implement the National Green Growth Strategy for 2021–2030 with seven task groups, and ongoing reviews to amend lending regulations to better align with green growth and sustainable development. It also cited 2024 coordination with the agriculture ministry and 13 Mekong Delta provinces to guide credit institutions in implementing the one million hectare high-quality, low-emission rice programme through 2030. By April 2025, 50 credit institutions had recorded green credit outstanding, up from 15 in 2017, with average green credit growth exceeding 22% per year over 2017–2024; workshop participants called for coordinated inter-ministerial work to complete the legal framework and support mechanisms, help banks mobilise longer-tenor, preferential international funding, and issue the national green taxonomy promptly.
State Bank of Vietnam 2025-04-26
State Bank of Vietnam reports 22% annual green credit growth to 50 lenders and calls for a national green taxonomy
At a workshop on "unlocking green credit flows," the State Bank of Vietnam emphasized green credit and ESG implementation as vital to Vietnam's green transition, highlighting progress and policy gaps. Senior Deputy Governor Dao Minh Tu noted constraints like the lack of a national green classification list and a common ESG framework. The central bank outlined measures including a banking-sector action plan and coordination with the agriculture ministry to support sustainable initiatives, with green credit growth averaging over 22% annually from 2017 to 2024.