[ti:Banks Required to Assess Environmental, Social Goals in Vietnam]
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[00:00.04]For several years, the worldwide financial crisis that began in 2008 had little effect on Vietnam's banks.
[00:11.64]That is not because its banks were stronger than the U.S banks that created the crisis.
[00:19.00]It was mostly because of the country's lack of international trade.
[00:26.12]But today, Vietnam does much more trade around the world.
[00:31.41]And the government is taking steps to make sure its banks can deal with a financial shock.
[00:40.48]The government, for example, is asking banks in Vietnam
[00:45.08]to look at environmental, social and governance risks, ESG, when considering credit risk.
[00:55.56]The State Bank of Vietnam says that every bank will create a unit for ESG analysis by 2025.
[01:06.64]ESG risk must be considered in all decisions.
[01:13.52]Seventeen banks in Vietnam have set up these units
[01:17.81]to analyze the environmental and social effects of their lending.
[01:23.66]Twenty-five banks have made such analysis so far, the central bank said.
[01:31.92]Nguyen Quoc Hung is a director of credit policies at the State Bank of Vietnam.
[01:39.05]Nguyen said Vietnamese banks are ready to create "sustainable finance,"
[01:46.13]which is important for finding new business opportunities.
[01:52.76]The push for banks and other businesses to consider their effects on the environment
[01:58.89]has created new expressions like "green finance" and "green bonds."
[02:05.87]Green finance means, for example, giving a loan to a business that provides wind power.
[02:15.12]Green finance is important to Vietnam;
[02:18.92]it considers itself one of the countries most threatened by the effects of climate change.
[02:27.60]The government is strengthening its banks because of its membership
[02:32.14]in the Sustainable Banking Network, SBN.
[02:36.60]That is a group of 38 developing countries pushing ESG rules.
[02:43.74]The World Bank's International Finance Corporation also supports the group.
[02:51.32]The 38 nations share ideas about green finance, said Imansyah.
[02:58.78]He is on the SBN working group. Like many Indonesians, he goes by one name.
[03:08.96]"Sharing lessons and knowledge among members has been an important (way)
[03:14.07]to drive finance reforms," Imansyah said.
[03:20.16]His country, along with China, is among the leaders of the 38 countries.
[03:25.72]Both Indonesia and China have started using many of the planned ESG policies.
[03:33.84]These include government financial support for green investments.
[03:41.00]Vietnam may soon be among the leading countries, too.
[03:45.24]A World Bank report said of the country, "Vietnam is one of the few SBN members
[03:53.24]to require (banks) to report the quantities and values of their green loans."
[04:02.52]Considering the social value of loans is much harder to measure.
[04:07.60]But Vietnam's banks want to avoid the kind of risky loans
[04:13.39]that led to the near-collapse of the U.S. housing market in 2008.
[04:20.08]I'm Susan Shand. 更多听力请访问21VOA.COM