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BIZ GUEST

SERVING

EVOLVING

NEEDS

Ms. Michele Wee, CEO of Standard Chartered Bank
Vietnam, tells VET about how the bank promotes
sustainable development and the application of ESG
at businesses in Vietnam.

% Standard Chartered Bank Vietnam year. Per the bank’s Sustainable Finance bolstering onshore business operations
has committed to reaching net-zero car- Impact Report last year, Vietnam has through FDI. What are your specific
bon emissions from its operations by recorded over $50 million in renewable plans and strategy in this regard?
2030 and then from its financing by energy exposures and another $50 million We have built a strong business in
2050. What measures are being imple- in business banking loans supporting Vietnam and aspire to take it to even
mented to achieve this commitment? access to finance. greater heights. Standard Chartered Viet-
We are proud to drive the sustain- We have a strong team locally to offer nam is fully committed to supporting the
ability agenda and lead the way in sus- transition and adaptation financing as well country’s economic development and pros-
tainable development for our clients, as to introduce our product suite to clients perity in the years to come.
authorities, and the broader economy. in Vietnam. We stand ready to have these We have been investing significantly
Standard Chartered is a fervent supporter conversations and work with our clients in Vietnam over the last few years and
of the Vietnamese Government’s ambi- to fulfil their own net-zero ambitions. growing our business around the country.
tions, and looks to build upon successes At COP28 this year, we are a proud In late 2021, Standard Chartered injected
from COP26. Specifically, with regard to partner of the Vietnamese Government. an additional $120 million of Tier 1 capital
endeavors for a sustainable green future, Standard Chartered Bank will co-host an into its Vietnam franchise. In 2022, we
Standard Chartered signed three MoUs exclusive session for our clients and par- opened our new head office in Hanoi,
with three Vietnamese businesses on sus- ticipate in relevant sessions that see the strengthening our strong, long-term com-
tainable financing of up to $8.5 billion, investor community engage with senior mitment to and investment in Vietnam.
to support their sustainability goals. leaders from the Vietnamese delegation. The investment in more resources and
Together with all-encompassing stake- There is significant interest in the Just infrastructure in the local franchise aims
holder groups, from the government to Energy Transition Resource Mobilization to better serve its clients and deliver solu-
the private sector, the bank has been exe- Plan, and this will be a much anticipated tions that enable customer choice and
cuting different verticals of work under event in Dubai. access to the best and most innovative
the Just Energy Transition Partnership solutions to both the private and public
(JETP) to deliver on collective ambitions % Standard Chartered Bank Vietnam sectors. As one of the first foreign banks to
to reach net-zero emissions by 2050. announced in September a significant establish a presence in Vietnam, in 1904,
With increasing focus on helping clients milestone in its commitment to the Standard Chartered will celebrate 120 years
to decarbonize and transition, Standard country, marked by a substantial $60 of operations here next year, affirming our
Chartered expanded its sustainable finance million capital injection that under- long-term investment in and commitment
asset book to over $13 billion in 2022, scores its unwavering dedication to to the country. This is a significant milestone
representing 30 per cent growth year-on- Vietnam and its long-term strategy of that we are proud of.

24 | VIETNAM ECONOMIC TIMES | DECEMBER 2023 en.vneconomy.vn