Vietnam's best bank for ESG 2022: Standard Chartered
Standard Chartered’s credentials in the environment, social and governance field are well known. Like many others, the bank has committed to reach zero carbon emissions from its operations by 2030 and from its financing 20 years later.
In Vietnam, StanChart has become a sustainability leader, making it Asiamoney’s choice for this award. A key objective has been to support Vietnam’s government in its sustainability drive and ambition.
One way that StanChart – led by CEO Michele Wee in Vietnam – does this is by allocating more money for green financing, and offering low interest rates to firms that commit to providing green products to the market. For example, it launched an environment-friendly automobile loan last year, offering preferential interest rates for hybrid cars in a bid to promote the adoption of greener lifestyles and reduce carbon emissions.
It also launched sustainable trade finance last year, to implement more sustainable practices and build more resilient supply chains.
At a meeting with Vietnam’s prime minister during the UN Climate Conference COP26 last November, StanChart signed three memorandums of association worth $8.5