HSBC Vietnam extends green finance solutions

HSBC Bank (Vietnam) has enhanced and expanded upon its range of green loan products in a bid to help retail customers reduce their carbon emissions and contribute to shaping a zero-carbon future for the world.
The bank’s retail customers can now enjoy even more favorable conditions when applying for green rooftop solar energy loans and also experience HSBC Vietnam’s first home loan product for the Cardinal Court project - the Phu My Hung Development Corporation’s green building.

In an update to HSBC Vietnam’s green loan categories, the bank has focused on more favorable requirements for rooftop solar energy green loans - home loans for green construction.

On the corporate front, HSBC has been recognized as a pioneer in the market, with comprehensive sustainable financial products such as green term loans, green trade loans, and, recently, green deposits. Its evolving suite of green products highlights its commitment to supporting customers so they can make more sustainable choices and do their bit to build a greener Vietnam together. This green product line also underscores HSBC’s strong commitment to a net zero transition and building a healthier planet for future generations. 

According to HSBC’s “Tackling the next crisis” report, climate change is defined as the crisis of the century for Asia, not the pandemic, and Vietnam is among the countries that will be most impacted. Ho Chi Minh City is one of many cities in Asia, joining Mumbai, Shanghai, Bangkok, and Jakarta, to be increasingly threatened by rising sea levels. Asia is also not just on the receiving end of climate change; it is perpetuating the problem. It has accounted for 87 per cent of global greenhouse gases and 78 per cent of CO2 emissions growth since 1990. There is a reason HSBC and its customers have joined hands for a greener Vietnam.

“With our commitment to a transition to a global net zero economy, HSBC is well positioned to lead the public effort to build a greener, healthier Vietnam,” said Mr. Pramoth Rajendran, Head of Wealth and Personal Banking at HSBC Vietnam. “Some of the key initiatives we are undertaking include the migration of plastic card production to recycled plastics, preferential loans for green construction and rooftop solar energy, and greener lending.”