Date of publication: 24/01/2026
Category: Trends & Strategy / Banking and Finance
Prepared by: ESG Expert Team – Carbon Credit Viet Nam Joint Stock Company
In a quiet yet decisive shift, Vietnam’s banking system is reshaping the “rules of the game” for capital flows. According to the latest report from EY Vietnam (02/2026), 13-15 commercial banks have proactively published standalone Sustainability Reports (or deeply integrated them into their Annual Reports), approaching the world’s most rigorous standards such as GRI and TCFD.
This sends a clear signal to the business community: Banks are no longer concerned solely with “collateral” or “cash flow.” They have begun to scrutinize the “ESG profiles” of their borrowers. Businesses without a green strategy will find it increasingly difficult to access cheap capital, and may even be denied loans altogether.
1. THE BANKING SECTOR’S DIGITAL AND GREEN TRANSFORMATION LANDSCAPE
Five years ago, banks’ ESG activities revolved mainly around charitable programs (CSR). However, 2025-2026 marks a remarkable leap in governance maturity:
- Risk quantification: 80-90% of commercial banks have applied environmental, social, and governance (ESG) criteria to their credit appraisal processes at various levels.
- Organizational structure: 50% of banks have established dedicated Environmental Risk Management units, operating independently from credit departments to ensure objectivity.
The driving force behind this change comes not only from Circular 17/2022/TT-NHNN, but also from pressure exerted by foreign strategic shareholders (such as GIC, Mizuho, Sumitomo, etc.) – who require Vietnamese banks to “clean up” their lending portfolios to protect their investment value.
2. GRI AND TCFD STANDARDS: NO LONGER JUST THEORY
Pioneering banks (such as VCB, BIDV, ACB, and VPBank) are shifting decisively toward the two gold-standard reporting frameworks:
2.1. GRI (Global Reporting Initiative)
- Focuses on the bank’s impact on communities and the environment.
- What’s new: Banks have begun disclosing details on “Financed Emissions.” That is, they calculate the amount of CO2 emitted by their borrowing clients.
2.2. TCFD (Task Force on Climate-related Financial Disclosures)
- Focuses on the impact of climate change on the bank’s financial health.
- Example: Banks must assess: if sea levels rise, how many collateral assets (coastal real estate) in their portfolio would lose value? Or if the CBAM policy is applied, how many of their steel-industry clients would lose the ability to repay their debts?
3. DIRECT IMPACT ON BORROWERS (BUSINESSES)
This is the most important part: Why should manufacturing businesses care about banks’ reports?
Because of the concept of Scope 3.
- For a bank, more than 90% of its greenhouse gas emissions lie in its “Investment and lending portfolio” (Category 15 of Scope 3).
- For banks to achieve their own Net Zero targets, they are OBLIGED to push their borrowing clients to reduce emissions.
Practical consequences:
- Negative Screening: Projects using outdated technology, consuming excessive energy, or carrying high environmental risks will be placed on a “restricted list” (exclusion list).
- Positive Screening: Conversely, businesses holding green certifications (LEED, ISO 14001) or with clear emission-reduction roadmaps will enjoy preferential interest rates from green capital sources (as analyzed in Article No. 8).
- Data requirements: When submitting a loan application, in addition to financial statements, businesses will be required to complete detailed ESG questionnaires. Failing to complete them, or doing so superficially, means being rated as high-risk => Higher borrowing interest rates.
4. RECOMMENDATION: TURN ESG INTO THE NEW “COLLATERAL”
Businesses need to change their mindset: A strong ESG profile is itself a form of “intangible collateral” that helps raise credit limits and lower the cost of capital.
Step 1: Prepare an “ESG Capability Profile” (ESG Profile)
Don’t wait for the bank to ask. Proactively prepare a dossier including:
- The company’s environmental & social policies.
- Greenhouse gas inventory results (if available).
- Certifications of compliance with environmental, labor, and fire safety regulations.
Step 2: Seek Independent Verification (Second-party Verification)
Banks are highly wary of “Greenwashing” risks. A report bearing the verification seal of a reputable third party will significantly increase the confidence of credit appraisal officers, helping speed up the loan approval process.
Step 3: Engage in Dialogue with the Bank
Proactively share your company’s green transition roadmap with your partner bank. The bank can become a financial advisor, helping structure green loans or connecting you with international technical assistance funds.
5. CLOSING REMARKS: THE FUTURE OF THE BANK–BUSINESS RELATIONSHIP
The relationship between Banks and Businesses is shifting from “Creditor – Debtor” to “Partners in building sustainability.”
Against a backdrop of global capital flows tightening for “brown” industries and expanding for “green” ones, ensuring transparency of ESG information in line with international standards is no longer a luxury choice for businesses — it is a prerequisite for survival and growth.
“Smart money will always flow to where responsibility resides.”
About us: This report was prepared by the ESG Strategy & Policy Team of Carbon Credit Viet Nam Joint Stock Company. We support businesses in standardizing their ESG profiles to meet the stringent appraisal standards of the domestic and international banking system.
