| STATE BANK OF VIETNAM | SOCIALIST REPUBLIC OF VIETNAM |
| No. 1408/QD-NHNN | Hanoi, July 26, 2023 |
THE GOVERNOR OF STATE BANK OF VIETNAM
Pursuant to the Law on State Bank of Vietnam dated June 16, 2010;
Pursuant to the Law on Credit Institutions dated June 16, 2010; Law on amendment to the Law on Credit Institutions dated November 20, 2017;
Pursuant to Decree No. 102/2022/ND-CP dated December 12, 2022 of the Government on functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
Pursuant to Decision No. 1658/QD-TTg dated October 1, 2021 of the Prime Minister approving the National Strategy for Green Growth of 2021 - 2030 period and vision to 2050;
Pursuant to Decision No. 882/QD-TTg dated July 22, 2022 of the Prime Minister approving the National Action Program for Green Growth of 2021 - 2030 period;
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Pursuant to Decision No. 896/QD-TTg dated July 26, 2022 of the Prime Minister approving the National Strategy for Climate Change until 2050;
Pursuant to Decision No. 687/QD-TTg dated June 7, 2022 of the Prime Minister approving the Scheme for Circular Economic Development in Vietnam;
Pursuant to Decision No. 889/QD-TTg dated June 24, 2020 of the Prime Minister approving the National Action Program for Sustainable Production and Consumption of 2021 - 2030 period;
At request of Director of Department of Credit for Economic Sectors.
HEREBY DECIDES:
Article 1. The Action Program of banking sector for implementing National Strategy for Green Growth of 2021 - 2030 period and scheme for tasks and solutions for implementing results of the United Nations Climate Change Conference of the Parties - COP26 is attached hereto.
Article 2. This Decision comes into force from the date of signing.
Article 3. Chief of Office, Director of Department of Credit for Economic Sectors, heads of entities affiliated with the State Bank of Vietnam, Vietnam Banks Association, and credit institutions, foreign bank branches are responsible for the implementation of this Decision./.
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PP. GOVERNOR
DEPUTY GOVERNOR
Dao Minh Tu
IMPLEMENTING NATIONAL STRATEGY OF GREEN GROWTH OF 2021 - 2030 PERIOD AND SCHEME FOR TASKS AND SOLUTIONS FOR IMPLEMENTING RESULTS OF THE UNITED NATIONS CLIMATE CHANGE CONFERENCE OF THE PARTIES - COP26
(Attached to Decision No. 1408/QD-NHNN dated July 26, 2023 of the Governor of State Bank of Vietnam)
Implementing Decision No. 1658/QD-TTg dated October 1, 2021 of the Prime Minister approving the National Strategy for Green Growth of 2021 - 2030 period and vision to 2050; Decision No. 882/QD-TTg dated July 22, 2022 of the Prime Minister approving the National Action Program for Green Growth of 2021 - 2030 period; Decision No. 888/QD-TTg dated July 25, 2022 of the Prime Minister approving Scheme for tasks and solutions for implementing results of the United Nations Climate Change Conference of the Parties - COP26; Decision No. 896/QD-TTg dated July 26, 2022 of the Prime Minister approving the National Strategy for Climate Change until 2050; Decision No. 687/QD-TTg dated June 7, 2022 of the Prime Minister approving the Scheme for Circular Economic Development in Vietnam; Decision No. 889/QD-TTg dated June 24, 2020 of the Prime Minister approving the National Action Program for Sustainable Production and Consumption of 2021 - 2030 period, the State Bank of Vietnam (hereinafter referred to as “SBV”) develops action program to elaborate organization and effective implementation of the Decisions as follows:
I. OBJECTIVES AND REQUIREMENTS
1. Banking sector effectively participates in the National Strategy for Green Growth; implements sectoral tasks and solutions to respond to climate change, promotes restructuring of the economy and renovates growth model in order to achieve economic prosperity, environmental sustainability, social equality, green economy, circular economy, net-zero carbon emission, and contributes towards limitation of global warming.
2. Implementation of National Strategy for Green Growth, tasks, and solutions for responding to climate change is integrated during development of banking sector development strategy, regulation of monetary policies, promulgation of credit regulations and policies, banking operations of SBV and during orientation, development, and implementation of business strategies and plans of each credit institution in order to promote green credit, manage environmental and social risks, and aim towards green banking model development.
3. Increase awareness, role, and capacity of banking sector in granting credit extension for green sectors, managing environmental and social risks in credit extension for sectors with high emission; develop banking products and services, enable economic sectors to promote green growth.
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5. Develop digital banking model, extensively apply achievements of the Fourth Industrial Revolution in order to implement green banking operations, increase utilities, improve customer’s experience, and implement sustainable development on the basis of promoting application of new and advanced technology in administration, coordination, and provision of banking products, services in a manner that automates the process and optimizes professional operations.
II. PRIMARY TASKS AND SOLUTIONS
1.1. Develop legal framework regarding green credit appropriate to green growth objectives.
a) Review, amend, and improve regulations on credit extension of credit institutions for customers in order to generate consensus, continuity, and conformance with green growth and sustainable development trends; enable credit institutions to improve operating capability, diversify credit extension methods in order to increase access to bank loan capital of the general public and enterprises for manufacturing and business operations, including manufacturing and business projects, solutions that are beneficial to the environment and protect the environment. (Entities affiliated with the SBV shall implement within their functions and tasks).
b) Further study, develop regulations on environmental risk management in credit extension operation in a manner that complies with the law and practical operations of credit institutions (the Department of Credit for Economic Sectors shall take charge of implementation).
c) Review and improve foreign exchange administration policies, mobilize financial resources from other countries to serve green growth depending on level of development and openness of Vietnamese economy and in a law-compliant manner (the Foreign Exchange Management Department shall take charge and cooperate with International Cooperation Department, Monetary Policy Department, and relevant entities in implementation).
d) Review and amend strategies, action plans of banking sectors in order to integrate and adhere to objectives of National Strategy for Green Growth of 2021 - 2030 period and vision to 2050, Strategy for responding to climate change and reducing greenhouse gas emission until 2050, and Scheme for tasks and solutions for implementing results of the United Nations Climate Change Conference of the Parties - COP26 (the Banking Strategy Institute shall take charge and cooperate with relevant entities in implementation).
1.2. Further implement Scheme for green banking development in Vietnam of 2021 - 2025 period; study and propose development direction of green banking model in Vietnam appropriate to National Strategy for Green Growth of 2021 - 2030 period and vision to 2050 (the Banking Strategy Institute shall take charge and cooperate with relevant entities in implementation).
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a) Closely monitor development of the market and economy in Vietnam and in other countries, harmoniously cooperate with fiscal policies and other microeconomic policies in order to flexibly and synchronously coordinate monetary policy instruments and solutions in order to control inflation, stabilize microeconomics, stabilize monetary and foreign exchange markets, assist in green growth, adapt to climate change, and implement sustainable development (the Monetary Policy Department shall take charge and cooperate with relevant entities in implementation).
b) Guide credit institutions to grant credit extension in regard to List of green projects as soon as competent authority approve the List of green projects; provide guidance on listing outstanding green credit in banking system (the Department of Credit for Economic Sectors shall take charge and cooperate with Forecasting and Statistics Department and relevant entities in implementation).
c) Study international experience in order to propose climate risk management in banking operations (the Department of Credit for Economic Sectors, the Monetary Policy Department, the Banking Supervision Agency within their functions and tasks shall cooperate with relevant entities in implementation).
d) Coordinate credit growth reasonably, satisfy loan capital demand of the economy, contribute towards national green growth objectives; direct credit institutions to:
(i) promote mobilization of resources, including issuance of green bonds to fund projects under the List of green projects in order to protect the environment and adapt to climate change;
(ii) focus and prioritize funding sources for projects under List of green projects on the basis of evaluating capital use effectiveness and financial capacity of customers;
(iii) slowly increase percentage of loan capital invested, funded by banks for projects under the List of green projects, especially sectors such as: renewable energy, transport, construction material production, waste processing, low-carbon manufacturing and consumer sectors, etc. appropriate to Vietnam’s commitment to net-zero carbon emission by 2050;
(iv) implement regulations on environmental risk management in credit extension; study, update, develop green credit products, manage environmental, social, climate risks in credit extension in a manner that approaches international standards.
(the Monetary Policy Department, the Department of Credit for Economic Sectors, credit institutions and relevant entities shall implement).
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e) Study, finalize, and improve statistical report, application of digital transformation in statistical report system, green growth database of the sector (the Forecasting and Statistics Department and the Information Technology Department shall cooperate with relevant entities in implementation).
2. Implement international cooperation to promote resource mobilization for green growth
2.1. Entities affiliated with SBV and credit institutions shall promote international cooperation in order to mobilize international resources for green growth objectives, to be specific:
a) Increase cooperation with international organizations and international development partners in developing policies and mobilizing resources to support Vietnam, promote green growth and sustainable development, and implement net-zero emission commitment by 2050 and the Political Declaration for establishing Just Energy Transition Partnership (JETP) in accordance with principles and policies of the Government;
b) Assist credit institutions to access and receive international aid in order to promote funding for projects in List of green projects in a law-compliant manner;
c) Mobilize, receive, and implement technical support in order to improve planning, development, and enforcement capacity of policies and regulations on green finance and green growth of banking sector;
d) Cooperate with international partners in implementing programs, events, conferences, seminars, meetings to share experience, raise awareness, improve capacity regarding green finance, green growth, and sustainable development;
dd) Further exercise the role of banking sector in proposing, implementing initiatives, cooperating with international partners, and studying international organizations and forums regarding green growth, sustainable development in order to assist green growth mobilization.
(The International Cooperation Department, the Organization and Personnel Department, and credit institutions shall implement).
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2.3. Monitor and update international commitment of Vietnam relating to green growth, response to climate change on webpage dedicated to green growth - website of SBV. (The International Cooperation Department shall take charge of implementation).
3. Improve policies promoting digital transformation for sustainable development in banking sector
3.1. Develop legal framework and policies promoting payment and digital transformation in banking operations, focus on support for development of new business models, provision of banking service and products and utilities satisfying demand of the general public and enterprises.
3.2. Develop digital banking model, effectively implement Plan for digital transformation in banking sector until 2025 and orientation to 2030; in which, prioritize development of digital banking services satisfying demand of the economy in green transition, sustainable development, and response to climate change.
3.3. Develop modern banking products and services that utilize advanced technology, environmentally friendly technology to contribute towards green growth.
3.4. Develop new, modern payment facilities and methods that utilize advanced technology, environmentally friendly technology in order to generate consensus, facilitate, encourage cashless payment, restrict cash payments, and reduce bills in circulation.
(The Payment Department shall cooperate with relevant entities in implementation)
4.1. Organize surveys/internship in countries with advanced policies and activities regarding green finance-banking operations in order to improve knowledge, exchange experience with international organizations regarding issues relating to development and implementation of banking policies on green credit, response to climate change, and implementation of net-zero emission commitment by 2050 and the Political Declaration for establishing Just Energy Transition Partnership (JETP) (the Organization and Personnel Department shall take charge and cooperate with relevant entities in implementation).
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4.3. Implement scientific research and science topics to develop strategies and policies on green credit, green bank (the Banking Strategy Institute shall cooperate with the Department of Credit for Economic Sectors and relevant entities in implementation).
4.4. Credit institutions shall rely on practical capacity and conditions to develop training and improvement programs for officials engaging in green finance operations in banking sector (credit institutions shall implement).
5.1. Increase communication to raise awareness in banking sector regarding the role, meaning, and necessity for green credit, green bank, and sustainable banking development.
5.2. Promptly communicate results of banking sector operations contributing towards green growth and response to climate change; develop dedicated information section regarding implementation of green growth strategy of banking sector on website of SBV.
5.3. Encourage green, naturally friendly lifestyles and consumption associated with traditional cultural value, resistant to climate change and natural disasters in communication of banking sector.
5.4. Encourage credit institutions to develop and publish Report on sustainable development , publish their own “green” commitments.
(The Communications Department shall take charge and cooperate with relevant entities implementing 5.1, 5.2, and 5.3; credit institutions shall implement 5.4)
6. Study and establish common forum on green finance of banking sector to contribute towards green growth goals, respond to climate change, and implement net-zero emission by 2050 and enable credit institutions to share experience, assist members in implementation (the Vietnam Banks Association shall take charge of implementation).
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(The Finance and Accounting Department, relevant entities of SBV, and credit institutions shall implement).
III. RESOURCES FOR IMPLEMENTATION
Resources for implementation of the Plan shall conform to Decision No. 882/QD-TTg dated July 22, 2022 of the Prime Minister approving National Action Plan for Green Growth of 2021 - 2030 period.
1. Entities affiliated with SBV, the Vietnam Banks Association, and credit institutions within their functions, tasks, and operations shall organize implementation of tasks and solutions under this Action Plan of SBV.
2. Entities assigned to take charge of implementing tasks under this Action Plan are responsible for filing reports on implementation progress, attained results, difficulties, issues, and proposed solutions to the Department of Credit for Economic Sectors on an annual basis (before November 15) or on an irregular basis in order to develop report of banking sector on implementation of National Strategy for Green Grown, present to leaders of SBV, and send to National Steering Committee for Green Growth./.
File gốc của Decision No. 1408/QD-NHNN dated July 26, 2023 on promulgating Action Program of banking sector for implementing National Strategy for Green Growth of 2021 – 2030 period and scheme for tasks and solutions for implementing results of the United Nations Climate Change Conference of the Parties – COP26 đang được cập nhật.
Decision No. 1408/QD-NHNN dated July 26, 2023 on promulgating Action Program of banking sector for implementing National Strategy for Green Growth of 2021 – 2030 period and scheme for tasks and solutions for implementing results of the United Nations Climate Change Conference of the Parties – COP26
Tóm tắt
| Cơ quan ban hành | Ngân hàng Nhà nước Việt Nam |
| Số hiệu | 1408/QD-NHNN |
| Loại văn bản | Quyết định |
| Người ký | Đào Minh Tú |
| Ngày ban hành | 2023-07-26 |
| Ngày hiệu lực | 2023-07-26 |
| Lĩnh vực | Tài nguyên - Môi trường |
| Tình trạng | Còn hiệu lực |