Delivering his opening speech at the Forum themed “Sustainability reporting practice in banking with AI-driven solutions” co-organized by the Banking Times and the Association of Chartered Certified Accountants (ACCA) on May 21, 2025, Deputy Governor Pham Thanh Ha of the State Bank of Vietnam (SBV) emphasized the importance of the sustainable development practices and the role of artificial intelligence (AI) in improving the effectiveness of the ESG’s reporting, governance and practices in the banking system.
SBV Deputy Governor Pham Thanh Ha speaks at the Forum
The banking sector with the sustainable development practices
According to the Deputy Governor, sustainable development has become a key element in the development strategy of the finance and banking sector. In particular, the development and dissemination of the Sustainable Development Report is an important tool for financial institutions to demonstrate their commitments and affirm their pioneering roles in the process of building a green and inclusive economy.
Implementing the Government's orientations in the Development Strategy for the Banking Sector to 2025, Vision to 2030, the SBV has proactively implemented many policies and action plans to promote sustainable development. According to the Deputy Governor, the SBV has issued the Banking Sector’s Action Plan to implement the 2030 Agenda for Sustainable Development (Decision No. 1731/QD-NHNN), as well as the Plan to implement the National Strategy on Green Growth, and the Scheme to implement the results of the COP26 Conference (Decision No. 1408/QD-NHNN).
In addition, the SBV has promoted the training and awareness raising on green credit, and organized a lot of seminars and workshops to disseminate ESG experience and standards.
Notably, around 13 to 15 commercial banks have published their independent Sustainability Reports, and the trend has been rising fast particularly in 2024 and the early months of 2025, with an additional six commercial banks releasing their reports during this period.
In addition, green credit activities have also recorded positive results. By the end of Q1/2025, a total of 58 credit institutions had outstanding green credit balances, with the total combined value exceeding VND 704,244 billion, an increase of 3.57% as compared with that of the end of 2024, and accounting for 4.3% of the total outstanding loans in the economy. The majority of these loans were allocated to renewable and clean energy, and green agriculture, accounting for over 37% and over 29% respectively. From 2017 to 2024, green credit grew at an average annual rate of 21.2%, significantly outpacing the overall credit growth.
"Accelerating" ESG with AI
SBV Deputy Governor Pham Thanh Ha speaks at the Forum
Deputy Governor Pham Thanh Ha provided his instructions for the discussions at the Forum, focusing on the three sub-themes of: (1) Sharing domestic and international experience in developing and publishing Sustainability Reports in the banking sector, including the international standards and the connections with the requirements of international investors and partners; (2) Discussing about the difficulties, challenges and specific requirements of the credit institutions in Vietnam in the process of developing their Sustainability Reports, especially in relation to data systems, analytical capacity, and guiding legal frameworks; (3) Proposing solutions for applying AI and Big Data to support the sustainability reporting, including automating ESG data collection; standardizing and synchronizing data from multiple sources; analyzing environmental and social risks and performance; and developing smart reporting models, etc.
Deputy Governor Pham Thanh Ha also emphasized that the SBV always highly recognizes its role in guiding and supporting the banking system to enhance its social responsibility and apply modern technologies in the governance and reporting activities.
HY